Of all the decentralized exchanges (DEX), Bisq is probably the biggest name on the market today. And this past Friday afternoon I finally know ad a major enhancement to the platform, support for SegWit.
Bisq Network explained via Twitter that while this update had been around for BTC for a long time, it was only rolled out to the file containing the Bitcoin code that Bisq uses, bitcoinj, last year.
Since then, DEX has started collaborating with developer Oscar Guindzberg to make SegWit work on both Bisq wallets and the app's business protocol.
Then an anonymous donor drafted the terms so that if Guindzberg finished the rollout before April 1, 2021, he would compensate the developer $ 40,000. The payment will be made in Bitcoin and is guaranteed by different entities that have a multi-subscription wallet.
So… it’s happening.
We’re elated that the resources to develop, review, test, fund, and make this happen finally came together.
🎉
– Bisq (@bisq_network) September 4, 2020
In February of this year, Bisq he claimed that Segwit hadn't been forgotten, but that the implementation didn't seem realistic at this point. Apparently due to a lack of funds and the need for a thorough and comprehensive implementation in bitcoinj. Instead, they focused on improving support and increasing the liquidity of the platform.
SegWit was a major improvement to the Bitcoin protocol, but it requires individual adoption of each application that uses BTC. While this update was released in August 2017, many wallets and services are not yet using the technology.
