Crypto Wallet App 'Mobi' to Support Segwit, Following Coinbase and Bitfinex

Multi-currency mobile wallet app Mobi has announced that it now supports SegWit Bitcoin addresses, and “[encourages] all Mobi customers to switch their Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC) addresses to SegWit addresses.” Mobi has also offered coupon incentives for users who switch to SegWit before June 30th.

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Mobi, which BTCC’s Bobby Lee called crypto’s “killer app” in March of 2017, has branded itself as “a highly secure and versatile digital currency wallet that brings next-generation UX to crypto users worldwide.” The app allows users to send and receive Bitcoin, Bitcoin Cash, Litecoin, and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term using only their phone numbers; users can also use Mobi to convert crypto into more than 150 fiat currencies.

SegWit is the controversial and long-anticipated software upgrade for the Bitcoin network that was designed to improve scalability, reduce transaction fees, and increase transaction speed.

SegWit Already Adopted by Coinbase, Bitfinex

The app is the latest in a series of high-profile crypto exchanges and applications to support the integration of SegWit. Coinbase and Bitfinex announced that they would be integrating SegWit in December of 2017 and February of 2018, respectively.

Our engineering team has finished testing of SegWit for Bitcoin on Coinbase.

We will be starting a phased launch to customers over the next few days and are targeting a 100% launch to all customers by mid next week. — Coinbase (@coinbase) February 20, 2018

Upon the announcement of the integration, Bitfinex CEO Paolo Ardoino said: “SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development...We are delighted that through this implementation we can provide our customers with bitcoin withdrawal fees that are up to 20 percent lower, as well as faster-than-ever transaction speeds.”

However, Coinbase was later criticized for “faulty” SegWit implementation. Crypto Insider reported that customers claimed that their funds were lost due to them being sent to “random legacy addresses” instead of the appropriate SegWit addresses. The bug has since been repaired.