Xapo enables SegWit in its moment of greatest adoption

The Xapo cryptocurrency portfolio has begun to support SegWit for the processing of its transactions. The adoption of SegWit in recent months has increased its use to almost 40%.

Through his Twitter account, the current president of the company Xapo, Ted Rogers recently said that the transactions carried out with this portfolio already enable SegWit, an announcement that received numerous positive reactions.

Segregated Witness or Segregated Witness in Spanish, is a software update that emerged as an alternative of scalability and solution to possible problems of malleability of transactions in the Bitcoin network. The development was carried out by the Bitcoin Core team and activated in August of 2017 after a soft bifurcation of the network, after almost two years of testing. This solution separates the signatures of those involved in a transaction and moves them to a structure called a witness, to free space in the blocks.

In addition to Xapo, SegWit has been previously implemented by Trezor, Ledger, BitGo cryptocurrency portfolios and also by major exchange houses, such as LocalBitcoins, Binance, Coinbase at the end of February and ShapeShift in October of last year, house of change that by that time was considered one of the main receivers and senders of transactions with SegWit, being responsible for 3% of the transactions made with Bitcoin in the world.

Because SegWit is an optional software, its implementation has been quite slow. According to the data thrown by a website called Transactionfee.info, page that is dedicated to tracking the behavior of transactions made with Bitcoin; The adoption of SegWit has grown considerably in recent months, from a 15% in January of this year to a peak of 38% on May 24, the day on which the announcement was made. adoption of the software by Xapo, although in previous days it had already reached 37%.

The Xapo cryptocurrency portfolio, located in Hong Kong, has a particular feature compared to other wallets: in 2014 the team of this company developed a maximum security system to protect the private keys of its users, building physical vaults around the world. The exact location of the vaults has not been disclosed so far, although in October of 2017 a reporter named Joon Ian Wong managed to gain access to one of these security cameras, installed in a former Swiss military bunker.