Category Archive: segwit

HolyTransaction-bech32-segwit-wallet

Send to Bitcoin SegWit bech32 addresses!

HolyTransaction-bech32-segwit-walletSegWit on HolyTransaction
We are very excited to announce that HolyTransaction has implemented support for Bitcoin bech32 address formats on its platform. You can now enter a bech32 address when sending bitcoin from HolyTransaction. When depositing, you can also transfer the bitcoins to HolyTransaction from a bech32 address. HolyTransaction is the first web wallet to implement the native SegWit address format.

Native SegWit address bech32
Bitcoin bech32 addresses start with “bc1”. Segwit bech32 format has some technical benefits over the already used SegWit address format, which includes decreased transaction fees and increased throughput. Moreover, the new address format is case-insensitive and consists only of lower cases so the chance of typing an error is lower.

SegWit
SegWit makes it possible to rearrange the information in a block. Consequently, the block can contain more information and it makes transaction processing more cost-effective. Therefore, the blockchain can process much more transactions per second. This is a big step for the entire cryptocurrency community.

We believe this improvement will be welcome by the community. Tell your friends!
Check your wallet and try it out.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
rocket-batch

Batching Bitcoin and Litecoin transactions

HolyTransaction implemented SegWit on Bitcoin and Litecoin back in November 2017; and now we are glad to announce another upgrade to help the BTC network, as well the LTC network, reduce its transaction fee costs.

We implemented batching of transactions to help reduce fees for the entire network in order to strengthen the ecosystem.

Batches now allow grouping similar transactions and processing them together, as one transaction in one single moment. Thanks to this process, HolyTransaction is able to help conserve precious blockspace on the Bitcoin network.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
HolyTransaction SegWit Bitcoin bech32

SegWit transactions are here

When checking your Bitcoin address from your balance page, you may have noticed that the address currently displayed differs from one you have seen listed in the past.

Thanks to the latest improvements in Bitcoin Core, we are happy to announce that HolyTransaction implemented the SegWit technology to improve the Bitcoin network capacity and reduce the network fees.

All new addresses generated for Bitcoin and Litecoin by the HolyTransaction wallet will be SegWit addresses.

We believe this change will be welcome by the community and will also help HolyTransaction reach new users. Check your wallet and try it out.

 

What’s SegWit?

SegWit makes it possible to rearrange the information in a block. Consequently, the block can contain more information and it makes transaction processing more cost-effective. Receiving payments on these SegWit addresses does not differ from typical addresses in any way. As of now, around 10% of all Bitcoin transactions pass in SegWit.

HolyTransaction SegWit Bitcoin Litecoin

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
bitcoin segwit

Infographic: What is Segregated Witness?

Open your free digital wallet here to store your cryptocurrencies in a safe place.

jorge