Coinbase releases mobile updates supporting SegWit and Lightning
Coinbase updates its mobile apps to support SegWit addresses and Lightning Network payments, enhancing user experience.
On October 15, 2018, Coinbase announced a major update to its mobile applications for iOS and Android, introducing support for Segregated Witness (SegWit) Bitcoin addresses and experimental Lightning Network payments. The update allowed users to send and receive Bitcoin with lower fees and faster confirmation times, leveraging the Lightning Network for micropayments and small transactions.
Coinbase provided tutorials on using SegWit addresses and integrating Lightning payments into their wallets. The release was widely covered by CoinDesk, The Block, and Bitcoin Magazine, highlighting Coinbase’s efforts to improve usability while promoting network efficiency. Industry observers noted that these enhancements were a critical step in mainstream adoption, enabling retail users to experience Bitcoin transactions with speed and cost comparable to traditional payment methods.
The update also included improved security measures for private key storage, transaction signing, and in-app authentication. User feedback was collected via the Coinbase community forums and social media, influencing future iterations of the platform.This release reinforced Coinbase’s position as a leading provider of accessible, regulated, and secure cryptocurrency services for retail and institutional clients.