Coinbase is announcing that they are going to implement Segwit. Apparently, Coinbase plans Segwit release in few weeks. This change has been expected for a while now and it seeks to diminish transaction fees for Coinbase and GDAX.
Coinbase is currently dominating the cryptocurrency exchanges industry and many users have hoped in the past that they will be adding Segwit, even though there were some rumours regarding this addition.
Coinbase has announced on their Twitter account that their developers team have almost finished Segwit testing for Bitcoin. Segwit transfers will be available for customers within several weeks.
According to numerous standards, Coinbase has delayed too much the addition of Segwit and due to massive pressure from the users, they decided to add it.
The well-known exchange currently possesses billions of dollars and they are obliged to safely manage their customers accounts, this might be one of the reasons why Coinbase is so considerate when it comes to adding another protocol upgrade to their team.
The scalability technology aims to reduce the transaction fee for Bitcoin so that more data are cramped inside a block. All Bitcoin transactions are based on byte fees, so with a smaller transaction, you benefit from a smaller fee. Even though Segwit is known to be compatible with older versions, the code change is necessary for this, but it would be an easy one.
It is a matter of the future if the total figure of Coinbase will be change according to this addition or no.