Segwit will reduce fees, but only after you move your coins to a segwit address (in a segwit capable wallet).
So it will still take some time until we reap the full benefits.
Hello Elebit, may i ask you something? What does segwit means? I kept on searching on some search engines still, it's hard to understand for me as a newbie. any explanations for me to keep it simple for a newbie? So it will still take some time until we reap the full benefits.
Cheers!
Well it would really hard to explain if you dont know other of the basic terms and trades in blockchain and the community. But to give you an idea if it helps, SegWit stands for Segregated Witness where 3 parties are involved. 1. sender 2. receiver 3. and a witness or the confirmations or miners. This can ease transactions and fees suppose to be if once activated. Well this is just the basic definition so better start reading for more infos.