{"id":20284,"date":"2019-04-16T16:07:40","date_gmt":"2019-04-16T16:07:40","guid":{"rendered":"http:\/\/ci027cfe6ae0082697"},"modified":"2025-10-02T15:07:29","modified_gmt":"2025-10-02T20:07:29","slug":"gemini-exchange-announces-full-adoption-segwit-protocol","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/gemini-exchange-announces-full-adoption-segwit-protocol","title":{"rendered":"Gemini Exchange Announces Full Adoption of the SegWit Protocol"},"content":{"rendered":"
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Per an official announcement<\/a>, the cryptocurrency exchange Gemini Trust has confirmed full integration of Segregated Witness (SegWit) addresses to its wallet infrastructure. Gemini hopes its users will benefit from improved processing times and lower bitcoin withdrawal fees.<\/p>\n

\u201cWe believe SegWit will become the standard, and in doing so, will create extensive benefits for all participants on the Bitcoin network,\u201d Brian KimJohnson, a Gemini software engineer, stated in the post.<\/p>\n

The SegWit protocol update was activated in 2017 and, in short, it separates transaction data and digital signature information. As a result, each transaction on the Bitcoin blockchain weighs about 30 to 40 percent less, and general transaction fees are also significantly reduced.<\/p>\n

\u201cAs block space is limited, any decrease in transaction size allows for more transactions per block and greater overall throughput in the network,\u201d as explained in Gemini\u2019s post.<\/p>\n

The announcement also contained a bold claim that SegWit represents a step forward in the broader future of money.<\/p>\n

\u201cAs SegWit\u2019s use, support, and adoption grows, it will help reduce fees, wait times, and network congestion,\u201d Gemini promised.<\/p>\n

While other exchanges, including Coinbase<\/a> and Bitfinex<\/a>, have integrated the protocol update into their infrastructures, Gemini claims to be the first exchange to “launch full support of SegWit, complete with native SegWit deposit addresses.”<\/p>\n

Gemini\u2019s announcement ended with a call to action, as the exchange implored all of its customers to adopt SegWit addresses.<\/p>\n

\u201cAfter extensive testing and development, we know that launching SegWit support is the right decision for our customers at the right time,\u201d per the post.<\/p>\n

Gemini has made several recent attempts to differentiate itself from other cryptocurrency exchanges and to attract new clients. From its offline ad<\/a> campaign, which positioned the exchange as the go-to solution for investors, to the launch<\/a> of its retail investment mobile app that lets users buy and sell crypto on the go.<\/p>\n

In a tweet following Binance\u2019s recent decision<\/a> to delist Bitcoin SV, Gemini co-founder Tyler Winklevoss jokingly noted<\/a> that his exchange never listed the Bitcoin Cash fork coin in the first place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gemini Trust has confirmed full integration of Segregated Witness addresses to its wallet infrastructure, potentially improving processing times and lowering bitcoin withdrawal fees.<\/p>\n","protected":false},"author":3435,"featured_media":8837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[357,888,1079],"class_list":{"0":"post-20284","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-exchanges","9":"tag-gemini","10":"tag-segwit"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/gemini-exchange-announces-full-adoption-of-the-segwit-protocol.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=20284"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/8837"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=20284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=20284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=20284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}