The release of Bitcoin Core client version 0.16.0 has accelerated the implementation of SegWit support among the leading players of the bitcoin infrastructure. Shortly after a new client version came to the public, the two largest cryptocurrency exchanges, Coinbase and Bitfinex, informed about their immediate support of Segregated Witness.

Bitfinex, the Hong Kong-based crypto-exchange, and the US-based Coinbase platform announced their adoption of Segregated Witness (SegWit). The first one was Bitfinex, publishing a statement, according to which SegWit support will lead to the increase of bitcoin transaction speed and will help to lower withdrawal fees by approximately 15%.

To begin, users will need to generate a new deposit address from their Bitcoin deposit page to receive a SegWit-enabled address, which will start with 3.

“As a premier exchange, Bitfinex is committed to improving its market-leading offering for our loyal and discerning customers. 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. 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,” said Paolo Ardoino, Bitfinex CTO.

Bitfinex warned its customers that SegWit is designed only for the bitcoin network, not for Bitcoin Cash. If these coins are mistakenly sent to SegWit-addresses, they will be lost.

After several hours after Bitfinex's statement, Coinbase came out with the same announcement. The US-based exchange via Twitter also notified its customers that it had completed SegWit testing. The exchange plans to move all its customers to SegWit-addresses by the middle of the next week.

The implementation of SegWit by both crypto-exchanges will have a significant impact on the market, taking into account their trading volumes. According to the data of CoinMarketCap, Bitfinex and GDAX (a subsidiary of Coinbase) are in TOP-10 of the world's largest crypto-exchange sites, occupying the 5th and 8th positions respectively.

Recently, both exchanges experienced increased pressure from the crypto community due to the lack of SegWit support.

The Bitcoin Core team published a client updated version on 20 February. Bitcoin Core 0.16.0 support Segregated Witness by default, as SegWit functions are added to the command line and the wallet interface. It simplifies the use of SegWit by ordinary users without special skills.