Bitcoin, Crypto currency, Blockchain

SegWit adaptation reaches new High

For about nine months, a Witness is Segregated on the Bitcoin Blockchain now active. In this time, the adaptation of the update started slowly, because the Nodes passed only gradually, SegWit. Meanwhile, 40 percent of all the Bitcoin run, however, transactions on SegWit – and the trend is rising.

24. August 2017, the Bitcoin Upgrade Segregated Witness has been successfully activated on the Blockchain. Shortly after the split of the Bitcoin network in the course of the Hard Fork to Bitcoin to Cash, also Bitcoin Core presented his solution to the scaling problem. With SegWit data is to be processed faster, per Block of transactions and General transactions, counterfeit-proof.

There was in the Community, however, major conflicts of interest, particularly between developers and miners, it took from the initial idea up to the activation SegWits a whole three years. As SegWit was finally implemented on the Bitcoin Blockchain, it can’t be immediately going on with all of the promised benefits. It just needed time to use up the Nodes after and after started SegWit transactions. It also played a role, Offering increasingly more Exchanges and Wallet on SegWit-overs, this year, among other things, Coinbase, and Bitfinex.

SegWit already at 40 percent

So could spread SegWit all in all, steadily and successfully, and for an increasingly large share of the Bitcoin network. SegWit transactions to the beginning of the year accounted for only about 10 percent of all transactions in the network, so you now already have a share of well over 40 percent. The number of SegWit use transactions can be followed on the Website transactionfee.info post.

Among the last providers, the implemented SegWit in your product, Bitcoin Wallet provider Xapo. CEO Ted Rogers announced via Twitter last week that he was pleased that his company now supports SegWit transactions.

It is estimated that about 7 percent of the total Bitcoins are in Xapo Wallets. Other Hardware-Wallet providers, such as Ledger and Trezor support for the technology has been around since the beginning.

SegWit is on a good path to take very soon, the majority of the transactions in the bitcoin network. The more the Support increases, the more difficult it is for the others to escape.

Leave a Comment