Ive tested it on the test net sending a few transactions. Also seen people test it out as well with the fake starbucks store. Exchanges will most likely not be the first to adopt it, more than likely something smaller and easier to implement. I mean some smaller exchanges might but we havent been able to get all exchanges to agree on segwit yet. I think with lightning we will eventually see many more merchants start accepting bitcoin because it will be hypothetically possible to do microtransactions. Cant know for sure though. The devs also need to have a wallet that is easy to use or wallets need to implement it as well.
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