As SegWit activates today on the Bitcoin network, we are happy to announce that BitGo is starting to roll out SegWit to all BitGo wallets. Our plan is to immediately launch with a few select customers while we observe production operation. Assuming it works as expected for a few days, we will release final versions of our SDK and begin rollout of SegWit to all BitGo wallets.
BitGo Web Wallet users do not need to do anything to take advantage of SegWit as it will be automatically enabled.
BitGo API customers can activate SegWit at any time by upgrading their copies of BitGoJS, BitGoD, and BitGo Express once the final SegWit-activated versions are released.
There are two immediate benefits of SegWit for BitGo users:
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BitGo's multi-signature transactions will cost about half the fee that they used to cost prior to SegWit.
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By enabling SegWit, you will be reducing the transactional weight of your transactions on the blockchain, freeing space for other transactions and helping Bitcoin scale.
Note that your trading counterparties do not need to upgrade their software, as anyone can send to SegWit addresses or receive money sent from SegWit funds.
If you have any questions, please contact us!
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BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide.