Coinbase and Bitfinex Announce SegWit Adoption

Two of the largest cryptocurrency exchanges in the world, Coinbase and Bitfinex, have simultaneously announced their support of Segregated Witness (SegWit) protocols. The launch promises Bitcoin investors faster transaction times and lower transactions fees, which have recently dropped from over …

Two of the largest cryptocurrency exchanges in the world, Coinbase and Bitfinex, have simultaneously announced their support of Segregated Witness (SegWit) protocols. The launch promises Bitcoin investors faster transaction times and lower transactions fees, which have recently dropped from over $35 to less than $1.

Highly popular trading platform Bitfinex announced the implementation via Medium:

“Today Bitfinex is delighted to announce support for bitcoin deposit and withdrawals using P2SH Segregated Witness (SegWit) addresses… The SegWit implementation means Bitfinex users can benefit from lower BTC withdrawal fees (approximately 15%) and improved processing times on transactions across the Bitcoin network.

Bitfinex noted in the announcement that SegWit is now implemented for Bitcoin only, and not for Bitcoin Cash. This is an important distinction, as any Bitcoin Cash sent to a Bitfinex SegWit address will be lost. The Bitfinex platform processes more than $1 billion in daily trading volume, and is one of the largest exchanges by volume online.

Bitfinex CEO Paolo Ardoino released a statement on the implementation:

“SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development. By supporting SegWit addresses, Bitfinex is tackling three of the biggest crypto-enthusiast concerns: transaction fees, transaction speed, and total network capacity.”

Coinbase has not yet completed the rollout of SegWit, announcing a phased implementation over the next week with a 100% launch finalized by the end of February:

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

Wait — What’s SegWit?

For the uninitiated, SegWit (Segregated Witness) is a solution to the Bitcoin scalability problem. Block sizes on the Bitcoin blockchain are limited to 1 MB. This limits the number of transactions that can be processed on the Bitcoin blockchain to between 5 and 7 transactions per second. Bitcoin’s block size limit has caused significant issues over recent months as user adoption rates increase, with transaction fees inflating to over $35 and transactions taking days to process.

Bitcoin Cash, a “hard fork” of the Bitcoin blockchain, was created on August 1, 2017, and was designed to solve the scalability problem by increasing the block size to 8 MB, thereby speeding up transaction processing rates and lowering fees.

The SegWit solution, however, is more of a “hack” than a complete solution to the issue. SegWit works around block size by splitting a transaction into two segments—appending signature, or “witness” data from the original transaction and attaching it.

An End to High Transaction Fees

Bitfinex and Coinbase, together with Coinbase’s GDAX exchange, account for almost 10% of all international Bitcoin trades, with both platforms ranked in the top 10 exchanges worldwide. Although many wallet solutions already support SegWit, the integration of the solution by two of the biggest industry players is likely to spark increased adoption of the workaround.

Bitcoin median fees from October courtesy of BitInfoCharts.

The announcements follow the release of the latest major Bitcoin Core Client update, which includes, for the first time, full SegWit support. SegWit adoption isn’t the only factor driving down Bitcoin transaction costs, however. A reduction in user activity has recently seen Bitcoin transaction fees drop significantly from over $35 to under $1.

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Bitcoin Gold (BTG) Reaches Market Capitalization of $2.14 Billion

Bitcoin Gold logo Bitcoin Gold (CURRENCY:BTG) traded down 2.3% against the U.S. dollar during the 1-day period ending at 23:00 PM E.T. on January 30th. One Bitcoin Gold coin can currently be purchased for approximately $126.95 or 0.01181600 BTC on popular cryptocurrency exchanges …

Bitcoin Gold logoBitcoin Gold (CURRENCY:BTG) traded down 2.3% against the U.S. dollar during the 1-day period ending at 23:00 PM E.T. on January 30th. One Bitcoin Gold coin can currently be purchased for approximately $126.95 or 0.01181600 BTC on popular cryptocurrency exchanges including Fisco, Bitcoin Indonesia, GetBTC and Upbit. Bitcoin Gold has a total market cap of $2.14 billion and approximately $41.16 million worth of Bitcoin Gold was traded on exchanges in the last day. Over the last week, Bitcoin Gold has traded down 2.3% against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last day:

  • Zcash (ZEC) traded 4.4% higher against the dollar and now trades at $444.63 or 0.04138470 BTC.
  • ZClassic (ZCL) traded 4.5% lower against the dollar and now trades at $148.46 or 0.01381800 BTC.
  • Komodo (KMD) traded 6.6% lower against the dollar and now trades at $4.53 or 0.00042123 BTC.
  • ZenCash (ZEN) traded up 5.6% against the dollar and now trades at $37.76 or 0.00353503 BTC.
  • Hush (HUSH) traded 5.8% lower against the dollar and now trades at $2.14 or 0.00019999 BTC.
  • Zero (ZER) traded 1.8% higher against the dollar and now trades at $1.73 or 0.00016237 BTC.

About Bitcoin Gold

BTG is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 25th, 2017. Bitcoin Gold’s total supply is 16,939,324 coins and its circulating supply is 16,839,324 coins. Bitcoin Gold’s official Twitter account is @bitcoingold and its Facebook page is accessible here. The Reddit community for Bitcoin Gold is /r/bitcoin and the currency’s Github account can be viewed here. Bitcoin Gold’s official website is bitcoin.org. The official message board for Bitcoin Gold is bitcointalk.org.

According to CryptoCompare, “Bitcoin Gold is a fork of the Bitcoin blockchain that occurred at block 491407. It implements a new PoW algorithm, Equihash, which makes it ASIC-resistant and can only be mined by GPUs rigs. The purpose of Bitcoin Gold is to make mining decentralized again following Satoshi Nakamoto’s vision of “1 CPU = 1 vote”. “

Bitcoin Gold Coin Trading

Bitcoin Gold can be purchased on these cryptocurrency exchanges: CEX.IO, OKEx, Mr. Exchange, GetBTC, BX Thailand, Negocie Coins, Lbank, Bit-Z, ACX, Zaif, Liqui, Korbit, WEX, BTCTurk, CoinsBank, Coinrail, BigONE, Coinroom, Luno, Coinsquare, Bitonic, itBit, Independent Reserve, Kraken, BtcTrade.im, EXX, CoolCoin, Bitfinex, BitMarket, Tidex, BitBay, Foxbit, Cryptopia, xBTCe, ZB.COM, BitMEX, LakeBTC, BL3P, bitFlyer, Bibox, Gate.io, HitBTC, Bittrex, Poloniex, BTCC, CoinExchange, CoinEgg, Bitbank, Livecoin, Binance, BTC Markets, Quoine, Bitstamp, GDAX, RightBTC, Coinone, Upbit, Gatecoin, Paribu, Bitso, Bithumb, Coinnest, QuadrigaCX, BitGrail, Fisco, Bitcoin Indonesia, Kucoin, YoBit, Coinfloor, Allcoin, BTCBOX, Bleutrade, Huobi and Gemini. It is not possible to purchase Bitcoin Gold directly using U.S. dollars. Investors seeking to trade Bitcoin Gold must first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Bitcoin Gold using one of the exchanges listed above.

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Litecoin Price Down 3.9% Over Last 7 Days (LTC)

Litecoin logo Litecoin (CURRENCY:LTC) traded down 3.3% against the US dollar during the 1-day period ending at 23:00 PM ET on January 30th. During the last week, Litecoin has traded down 3.9% against the US dollar. Litecoin has a market cap of $12.09 billion and approximately $1.05 billion …

Litecoin logoLitecoin (CURRENCY:LTC) traded down 3.3% against the US dollar during the 1-day period ending at 23:00 PM ET on January 30th. During the last week, Litecoin has traded down 3.9% against the US dollar. Litecoin has a market cap of $12.09 billion and approximately $1.05 billion worth of Litecoin was traded on exchanges in the last 24 hours. One Litecoin coin can now be bought for approximately $218.54 or 0.02034120 BTC on exchanges including VirtacoinWorld, Bitbank, Coinsquare and BTC-Alpha.

Here is how related cryptocurrencies have performed during the last 24 hours:

  • Verge (XVG) traded 0.4% lower against the dollar and now trades at $0.0684 or 0.00000637 BTC.
  • Dogecoin (DOGE) traded 5.4% lower against the dollar and now trades at $0.0068 or 0.00000063 BTC.
  • Bytom (BTM) traded down 1% against the dollar and now trades at $0.36 or 0.00003306 BTC.
  • Syscoin (SYS) traded down 5.7% against the dollar and now trades at $0.65 or 0.00006058 BTC.
  • Polymath (POLY) traded 8.4% higher against the dollar and now trades at $1.37 or 0.00012737 BTC.
  • GameCredits (GAME) traded 5.4% lower against the dollar and now trades at $2.59 or 0.00024096 BTC.
  • BridgeCoin (BCO) traded down 2.5% against the dollar and now trades at $4.69 or 0.00043676 BTC.
  • Einsteinium (EMC2) traded 0.6% lower against the dollar and now trades at $0.36 or 0.00003382 BTC.
  • CyberMiles (CMT) traded 4.4% lower against the dollar and now trades at $0.17 or 0.00001600 BTC.
  • Viacoin (VIA) traded 6.3% lower against the dollar and now trades at $2.72 or 0.00025348 BTC.

Litecoin Coin Profile

Litecoin (LTC) is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its launch date was October 8th, 2011. Litecoin’s total supply is 55,324,483 coins. Litecoin’s official Twitter account is @LitecoinProject and its Facebook page is accessible here. The Reddit community for Litecoin is /r/litecoin and the currency’s Github account can be viewed here. The official message board for Litecoin is litecointalk.io. The official website for Litecoin is litecoin.com.

According to CryptoCompare, “Litecoin LTC – provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have – which are its main differentials to Bitcoin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. The coin was created by a Google employee, Charles Lee. Litecoin is in second spot to Bitcoin and has spawned numerous clones – however it has a solid base of support and dedicated development team.The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support.In May 2017, Litecoin became the first of the Top 5 (By Market Cap) cryptocurrencies to implement the SegWit scaling solution. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second.”

Litecoin Coin Trading

Litecoin can be purchased on these cryptocurrency exchanges: Bibox, Huobi, QuadrigaCX, BITHOLIC, CryptoBridge, Exmo, Coinsquare, Bitstamp, WEX, Gate.io, Kucoin, Koinim, Bitsane, COSS, Coinhouse, Bits Blockchain, GDAX, RightBTC, Bittylicious, LiteBit.eu, Coinroom, YoBit, Mr. Exchange, Tripe Dice Exchange, HitBTC, BtcTrade.im, Braziliex, Tidex, FreiExchange, BigONE, Exrates, BTC Trade UA, Bitcoin Indonesia, Binance, Cryptopia, C-CEX, GOPAX, RippleFox, CoinEgg, BTC-Alpha, CoinsBank, Bithumb, ChaoEX, Bitso, Coinbene, TDAX, OpenLedger DEX, Gatecoin, VirtacoinWorld, TOPBTC, Bitlish, Bitbank, Coinone, LocalTrade, BitKonan, Coinut, Poloniex, Livecoin, Bitfinex, DSX, CoinEx, Tux Exchange, Bleutrade, BitMarket, Bit2C, Bittrex, Bitinka, Koineks, Coingi, Bit-Z, Negocie Coins, OKCoin.cn, Abucoins, Dgtmarket, Stocks.Exchange, BitFlip, Bisq, Trade Satoshi, BitGrail, The Rock Trading, EXX, Upbit, Cryptomate, OKEx, xBTCe, Liqui, Qryptos, NIX-E, Allcoin, Koinex, BX Thailand, Mercatox, CoolCoin, BCEX, CoinFalcon, Bitmaszyna, SouthXchange, ZB.COM, OkCoin Intl., BitBay, Altcoin Trader, CoinExchange, Cryptox, Waves Decentralized Exchange, Mercado Bitcoin, Coinrail, Kraken, AEX and BTC Markets. Investors seeking to acquire Litecoin using U.S. dollars directly can do so using GDAX, Changelly or Gemini.

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Infinity Economics (CRYPTO:XIN) Price Hits $0.0209 on Major Exchanges

Infinity Economics (CURRENCY:XIN) traded up 7.3% against the U.S. dollar during the 24 hour period ending at 22:00 PM ET on January 30th. One Infinity Economics coin can now be purchased for $0.0209 or 0.00000195 BTC on cryptocurrency exchanges. Over the last seven days, Infinity Economics …

Infinity Economics (CURRENCY:XIN) traded up 7.3% against the U.S. dollar during the 24 hour period ending at 22:00 PM ET on January 30th. One Infinity Economics coin can now be purchased for $0.0209 or 0.00000195 BTC on cryptocurrency exchanges. Over the last seven days, Infinity Economics has traded up 47% against the U.S. dollar. Infinity Economics has a total market capitalization of $0.00 and approximately $173,008.00 worth of Infinity Economics was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

  • Bitcoin (BTC) traded 2.3% lower against the dollar and now trades at $10,913.90 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 4.4% lower against the dollar and now trades at $1,337.24 or 0.12459400 BTC.
  • Steem (STEEM) traded down 4.7% against the dollar and now trades at $3.84 or 0.00035736 BTC.
  • Emercoin (EMC) traded 1.2% higher against the dollar and now trades at $4.59 or 0.00042738 BTC.
  • Experience Points (XP) traded 6% lower against the dollar and now trades at $0.0007 or 0.00000006 BTC.
  • BitcoinDark (BTCD) traded 5.6% lower against the dollar and now trades at $107.00 or 0.01000160 BTC.
  • Peercoin (PPC) traded down 2.8% against the dollar and now trades at $3.63 or 0.00033975 BTC.
  • PACcoin (PAC) traded down 2.9% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Counterparty (XCP) traded 0.1% higher against the dollar and now trades at $27.18 or 0.00254057 BTC.
  • BitBean (BITB) traded down 1.5% against the dollar and now trades at $0.0255 or 0.00000172 BTC.

Infinity Economics Profile

Infinity Economics (CURRENCY:XIN) is a Proof-of-Stake (PoS) coin that uses the SHA-256 hashing algorithm. It launched on January 10th, 2017. Infinity Economics’ total supply is 9,000,000,000 coins. Infinity Economics’ official message board is forum.infinity-economics.org. The official website for Infinity Economics is www.infinity-economics.org. Infinity Economics’ official Twitter account is @XIN_Foundation and its Facebook page is accessible here.

Infinity Economics Coin Trading

Infinity Economics can be bought or sold on these cryptocurrency exchanges: . It is not possible to purchase Infinity Economics directly using US dollars. Investors seeking to trade Infinity Economics must first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Infinity Economics using one of the aforementioned exchanges.

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ArtByte (ABY) 1-Day Volume Reaches $27316.00

ArtByte can be purchased on the following cryptocurrency exchanges: YoBit, Bittrex, LiteBit.eu and Cryptopia. It is not presently possible to purchase ArtByte directly using US dollars. Investors seeking to acquire ArtByte must first purchase Bitcoin or Ethereum using an exchange that deals in US dollars …

ArtByte logoArtByte (CURRENCY:ABY) traded 4.9% lower against the dollar during the 1 day period ending at 22:00 PM ET on February 14th. ArtByte has a total market capitalization of $10.59 million and $27,316.00 worth of ArtByte was traded on exchanges in the last 24 hours. Over the last week, ArtByte has traded down 3.3% against the dollar. One ArtByte coin can now be purchased for approximately $0.0134 or 0.00000124 BTC on popular exchanges including Cryptopia, LiteBit.eu, Bittrex and YoBit.

Here is how similar cryptocurrencies have performed over the last 24 hours:

  • Litecoin (LTC) traded down 3.5% against the dollar and now trades at $219.78 or 0.02054390 BTC.
  • Verge (XVG) traded 3.2% lower against the dollar and now trades at $0.0678 or 0.00000634 BTC.
  • Dogecoin (DOGE) traded 5.9% lower against the dollar and now trades at $0.0067 or 0.00000063 BTC.
  • Bytom (BTM) traded 2% lower against the dollar and now trades at $0.35 or 0.00003305 BTC.
  • Syscoin (SYS) traded down 6.4% against the dollar and now trades at $0.65 or 0.00006087 BTC.
  • Polymath (POLY) traded up 5.8% against the dollar and now trades at $1.33 or 0.00012465 BTC.
  • GameCredits (GAME) traded 5.5% lower against the dollar and now trades at $2.60 or 0.00024329 BTC.
  • BridgeCoin (BCO) traded down 5.7% against the dollar and now trades at $4.52 or 0.00042239 BTC.
  • Einsteinium (EMC2) traded down 1.9% against the dollar and now trades at $0.36 or 0.00003377 BTC.
  • CyberMiles (CMT) traded down 4.8% against the dollar and now trades at $0.17 or 0.00001605 BTC.

About ArtByte

ArtByte is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. It was first traded on May 1st, 2014. ArtByte’s total supply is 792,537,250 coins. ArtByte’s official Twitter account is @artbyteme and its Facebook page is accessible here. ArtByte’s official website is www.artbyte.me. The Reddit community for ArtByte is /r/ArtByte.

According to CryptoCompare, “Artists can receive and spend (cash in) ArtByte , just as you would cash-in airline mileage points or credit card bonus points. This provides real financial support for their careers. Additionally artists gain increased exposure (at no cost) on ArtByte’s social media and forum. “

Buying and Selling ArtByte

ArtByte can be purchased on the following cryptocurrency exchanges: YoBit, Bittrex, LiteBit.eu and Cryptopia. It is not presently possible to purchase ArtByte directly using US dollars. Investors seeking to acquire ArtByte must first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase ArtByte using one of the aforementioned exchanges.

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