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Segwit and Tx Batching

Hooray! Lower fees

CoinCorner are thrilled to announce that we have integrated both transaction batching and Segwit functionality into our platform.

What is transaction batching?
Transaction batching is the procedure of grouping together our pending bitcoin withdrawals and pushing them into just one transaction before sending them out to the bitcoin network.

In addition to helping lower fees for our customers, this change also supports the overall bitcoin network by reducing the amount of individual transactions sent out by CoinCorner (helping avoid network congestion).

What is Segwit?
Segwit (short for Segregated Witness) is an upgrade to the bitcoin protocol that changes the way in which data inside a transaction is stored. The Segwit upgrade removes the signature data out of the transaction hash and stores it in a separate ‘transaction witness’.

By restructuring the way data is stored in a transaction, Segwit essentially allows for smaller sized transactions which means more transactions can be included in a block.

How does this benefit me?
Down go the fees and up goes the speed!

The advantages of having both batching and Segwit integrated into CoinCorner means we have been able to substantially lower the fees for our users (You!) without sacrificing transaction confirmation times.

How do I get my Segwit address?
In order to generate your own CoinCorner Segwit address, all you have to do is navigate to your receive bitcoin page and click the button that says ‘Generate New Address’. 

Once you have done this, your new CoinCorner receive address should begin with a 3, this indicates that it is a Segwit enabled address. What are you waiting for? Login and generate your Segwit address now!