Blockchain Wallet Will Support BCH and SegWit Soon

Blockchain Wallet Will Support BCH and SegWit Soon

Bitcoin cash together with Segwit to be in the Blockchain wallet

There is a near-term roadmap to add Full Bitcoin Cash (BCH) support and SegWit to popular Cryptocurrency wallet which already supports Bitcoin (BTC) and Ethereum (ETH) according to Blockchain Company.

Blockchain, the Bitcoin wallet service, in a blog post explained that bitcoin had proven to be a top tier and viable cryptocurrency after being hard forked from bitcoin.

Bitcoin cash has held the top four market cap ranking position since its launch, and it even registered the second spot over the last weekend.

BCH Analysis

According to analysts, bitcoin cash will be embraced by businesses and individuals that hope for bitcoin acceptance as a currency and then as a store of value. Following an indefinite suspension of SegWit2, which sought to increase the nominal bitcoin blocksize thereby easing transactions, for community consensus deficiency, SegWit will find its way into the wallet products.

Through a soft fork, SegWit upgrade became activated into the bitcoin network in the late August enabling it to reduce the transaction fees significantly. Although, due to some political reasons, Blockchain together with other businesses that favored Segwit2x have lagged in adopting the Segwit.

Way forward

Critics had hinted that with the advent of the new cryptocurrencies like Litecoin and Ethereum, congestion on the bitcoin blockchain was relieved as a large chunk of users moved from bitcoin to those altcoins. However, that is not the case as the daily transaction shows that bitcoin transactions have been on the rise. When SegWit is encompassed into the bitcoin wallets, it will help reduce transactions size and act as security for casual wallet users.