Gemini has introduced full Segregated Witness (SegWit) support to its wallet, according to a blog post.
The SegWit protocol provides a way to store digital signature information separately from the transaction data, making bitcoin transactions weigh around 30–40 per cent less and hence cheaper. According to Gemini software engineer Brian KimJohnson, "As block space is limited, any decrease in transaction size allows for more transactions per block and greater overall throughput in the network."
As Gemini now fully supports SegWit, it also allows native SegWit deposit addresses.
“Our team views SegWit as a positive step forward for crypto and the broader future of money,” writes Brian KimJohnson. “As SegWit’s use, support, and adoption grows, it will help reduce fees, wait times, and network congestion. Critically, SegWit transactions lay the groundwork for more advanced technologies; of which the Lightning network is the most well known.”