**Electrum**, our personal favorite Bitcoin desktop wallet, just released the latest version of their software! Version `3.0` (dubbed "Uncanny Valley") includes **SegWit Support** (with all-new SegWit addresses) and **lock-timed transactions** (a method to stop fork replay attacks). Read on to learn all about it!
 
<center>![Image result for modern background copy.jpg](https://res.cloudinary.com/hpiynhbhq/image/upload/v1509581770/ndyadoxpbkbhakq2hrnm.jpg)
</center>

# SegWit Support
Electrum 3.0 includes full support for Segregated Witness. You can now create your own SegWit-supported wallet using the `New` tool (Wallet Creation Wizard), with addresses that look like this:
<center>![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1509581288/wkk7qrmasik8ckiwkk6i.png)</center>
These `bech32` addresses fully support SegWit, following the standard set by `BIP 173`. However, `BIP 173` is still a draft, so Electrum adds:
> You should keep a non-segwit wallet in order to be
      able to receive bitcoins during the transition period. If BIP173
      ends up being rejected or substantially modified, your wallet
      may have to be restored from seed. This will not affect funds
      sent to bech32 addresses, and it will not affect the capacity of
      Electrum to spend these funds.

Segregated Witness provides access to faster confirmations, lower fees, and other exciting features. Try using SegWit transactions and addresses with Electrum!

# Automatic Fork Replay Protection
Electrum 3.0 now includes **lock-timed transactions**, such that the `lock time` field is automatically set to the current block. This provides for a level of automatic replay protection and helps deter against replay attacks, if you choose to use it properly.

### How does this work?
Let's say that Bitcoin (BTC) is the main chain (with the highest hashpower) and is currently at block `600,000` while Bitcoin Example (BEX, just an example) is a fork without replay protection, which is currently at block `599,500` (500 blocks behind BTC). 

<div class="pull-right">https://res.cloudinary.com/hpiynhbhq/image/upload/v1509582653/hbxnycearavv2exmyinc.png</div>

Lock-times in transactions basically tell miners that the transaction _cannot_ be included in the blockchain until a certain block has been reached.

For example, if I broadcast a transaction on the BTC blockchain with a lock-time of 600,100 it can't be confirmed for another 100 blocks, since the current block number is 600,000.

Here are the steps to transact BTC without worrying about replay attacks on the BEX chain, even though BEX doesn't have replay protection:
1. Create a transaction `T` with a lock-time of `600,000` (Electrum will automatically apply the locktime)
2. Spend `T`, and wait for it to be confirmed on the blockchain
3. Immediately after `T` is confirmed, create a transaction `U` that spends the same coins from `T` on the BEX blockchain (or the other chain). `U` should send the coins to another address (probably owned by yourself)
4. If `U` gets confirmed on the BEX blockchain before block `600,000`, your coins are replay-protected. 

The reason that this is highly likely to work is because BTC is so ahead of BEX (500 blocks). Transaction `T` cannot be spent on BEX for another 500 blocks due to this gap, and we take advantage of that by getting in another transaction on BEX before a replay of `T` can catch up.

## Conclusions
Electrum 3.0 is an exciting update to the premier Bitcoin light client, and the addition of SegWit provides access to more opportunities for users. You can download the latest version [here](https://electrum.org/#download), and if you aren't sure what Electrum is or how it works, make sure to check out this [series](https://steemit.com/bitcoin/@mooncryption/electrum-bitcoin-wallet-part-1-why-electrum-is-the-king) on why Electrum is the best light Bitcoin wallet!

----- 
<div class="pull-right">
<a href="https://facebook.com/mooncryption/"><img src="https://res.cloudinary.com/hpiynhbhq/image/upload/v1509291482/n2cpe4whgkecrneyd8t9.png" /></a>
<a href="https://twitter.com/@mooncryption/"><img src="https://res.cloudinary.com/hpiynhbhq/image/upload/v1509291335/igz3x53xikqiafldawjm.png
" /></a>
<a href="https://steemit.com/@mooncryption/"><img src="https://res.cloudinary.com/hpiynhbhq/image/upload/v1509291555/x0run6mvktdqykpdsti4.png
" /></a>
<a href="https://www.youtube.com/channel/UCN83ldeo5Z148Xpq3pIB7cw"><img src="https://res.cloudinary.com/hpiynhbhq/image/upload/v1509291608/rlml4gna5ytrpfckn1fr.png" /></a>
</div>

Thanks for reading, 
— @mooncryption 

**image sources:** [all](https://electrum.org), [cover](https://images.freecreatives.com/wp-content/uploads/2016/04/Triangle-Shiny-Modern-Background-.jpg), [locktime](http://lh3.googleusercontent.com/cwzZePguL56jywIgTlnK1Rwa4Dn-u8GO6yvOw-en0sBTItJGaGWDBAb_UkIwVwptKFQ=w300)