{"id":141759,"date":"2020-12-26T00:53:00","date_gmt":"2020-12-25T21:53:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-enables-segwit-support-for-bitcoin-deposits-as-adoption-grows\/"},"modified":"2020-12-26T00:53:00","modified_gmt":"2020-12-25T21:53:00","slug":"binance-enables-segwit-support-for-bitcoin-deposits-as-adoption-grows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-enables-segwit-support-for-bitcoin-deposits-as-adoption-grows\/","title":{"rendered":"# Binance enables SegWit support for Bitcoin deposits as adoption grows"},"content":{"rendered":"<p>&#8220;<strong># Binance enables SegWit support for Bitcoin deposits as adoption grows  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTIvZmNmNmY5YmUtMDRjNy00NTliLTgzZWQtNzhkZmY1NjEzZmJkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Binance, one of the world\u2019s largest cryptocurrency exchange by volume, has incorporated Segregated Witness, or SegWit, support for Bitcoin (BTC) deposits.\u00a0<\/p>\n<p>The SegWit support was extended to deposits on Christmas Eve, Binance said in an official statement. The protocol upgrade was initially enabled only for withdrawals. <\/p>\n<p>Effective im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely, Binance users can transfer funds to a SegWit (bech32) address by selecting the BTC (SegWit) network. Binance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/0fee417cefff41a8a8fbfeaf23d0ae01\">explained<\/a>:<\/p>\n<blockquote><p>\u201cPlease note SegWit should help reduce fees; however, if you incorrectly send incompatible assets to the address, your funds will not be recoverable and will result in permanent loss.\u201d<\/p><\/blockquote>\n<p>Implemented in 2017, SegWit is a Bitcoin protocol upgrade designed to help scale the network and fix associated bugs. SegWit is known for the way it updates data on the blockchain, namely, by segregating signatures from transaction data. This protocol upgrade allows more transactions to be stored in a single block, thus increasing transaction capacity. <\/p>\n<p>Data from transactionfee.info <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/transactionfee.info\/charts\/payments-spending-segwit\/\">show<\/a> that roughly two-thirds of Bitcoin payments currently use SegWit. Although Bitcoin has emerged as a monetary instrument for storing value, it continues to face scalability limitations, which some argue has impeded adoption for everyday use.<\/p>\n<p>The Lightning Network has been offered as a viable layer 2 scaling solution for Bitcoin as a payment protocol. Unlike SegWit, which was a soft fork update to the Bitcoin protocol, the Lightning Network is an additional layer that could enable instant, lower-cost transactions.<\/p>\n<p>Despite limited transaction capacity, Bitcoin remains the de facto leader of the digital currency market. Its dominance over other crypto assets recently hit one-year highs. At the time of writing, Bitcoin\u2019s dominance rate was 68.7%, according to CoinMarketCap.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-enables-segwit-support-for-bitcoin-deposits-as-adoption-grows\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Binance enables SegWit support for Bitcoin deposits as adoption grows &#8221; Binance, one of the world\u2019s largest cryptocurrency exchange by volume, has incorporated Segregated Witness, or SegWit, support for Bitcoin (BTC) deposits.\u00a0 The SegWit support was extended to deposits on Christmas Eve, Binance said in an official statement. The protocol upgrade was initially enabled&#8230;<\/p>\n","protected":false},"author":1,"featured_media":141760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/fcf6f9be-04c7-459b-83ed-78dff5613fbd.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75029,87818,117],"class_list":["post-141759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-lightning-network","tag-segwit","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=141759"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/141760"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=141759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=141759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=141759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}