Segwit adoption is rising to 25% right now

in bitcoin •  7 months ago

We're starting to see more and more blocks with over 25% SegWit transactions. Here are the latest 10 blocks on the Bitcoin blockchain.

Block HeightTransactionsWitness txPercent SegWit
5111482,41670429.1%
5111472,06353726.0%
5111461,67547628.4%
5111451,91044323.2%
511144127422717.8%
511143178345425.5%
511142160337723.5%
511141166434020.4%
511140902022.2%
5111395529517.2

You can find the latest blocks here. Toggle 'Witness tx count' to see the amount of SegWit transactions.

Chart

This chart shows the latest 144 blocks average. It is at 18% right now, but the latest blocks contain even more SegWit transactions so I expect the 144 average to rise to approximately 25% in the coming hours.

Why is Segwit adoption rising?

  • The Bitcoin Core development team has released version 0.16.0 yesterday which introduces full support for segwit in the wallet and user interfaces.
  • Bitcoin exchange Bitfinex announced to adopts SegWit a week ago.
  • Coinbase announced last week it will implement SegWit for all customers on Coinbase this week.

Why is this good news?

SegWit improves the overall transaction capacity of the Bitcoin network.

SegWit reduces the size of transactions by separating signature and transactional data. This creates more room in each block and thereby increases the volume of possible transactions on the Bitcoin blockchain. This results in lower transaction costs and shorter waiting times for the first transaction confirmation.

You can read more about SegWit on Wikipedia.


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This is awesome news...

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Yes .. it's true @doccrypto

penguin news is good news!

This is extremely good news! Bitcoin Core devs are the best in the world and build complicated stuff with security as first priority. Building good things while keeping the network safe takes time and more and more in the community started to complain about this (with Bcash and 2x as result). Now finally the scaling tech start to be rolled out and adopted and exponential scaling will be the result!

Amazing News

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hehe cute girl right

This is good news because like the Internet which keeps on speeding-up from 2G to 5G. Bitcoin transactions just needs to be developed like with the SegWit for it to make a viable for using as a currency with regards to using it with much faster speed.

Wow Cool news,let's see what will be further after next realese!

Thank you @penguinpablo for this exciting information This, I am very happy for your participation in helping us share useful information.

Do you think Bitcoin will eventually die off as other better cryptocurrencies take the lead? A bit like how vinyl records gave way to tapes and cd's?

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No, I don't think so. Bitcoin is the most secure blockchain for payments because it has by far the most mining power behind it. And this is still growing.

Some crypto projects pretend to be better than Bitcoin, but in most cases the only reason they are faster is because nobody uses them. Bitcoin Cash for example. I don't believe raising the block size is a long term solution to scale a blockchain.

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i have read that proof of stake is as secure as proof of work and obviously it is much more sustainable and faster to execute and therefore lower cost. I'm betting that it dies out in the long run. There's just no incentive for new investors to buy in as the growth potential isn't there because the utility isn't there compared to newer crypto's. I think it's just a question of whether there is one more big rise in price before the ultimate big fade or whether we have already passed that point.

Thanks for cryptocurrency news sharing....I like bitcoin. keep it up

And does SegWit do anything to make Bitcoin consume less power? Because at the moment it's an environmental disaster.

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No, unfortunately. I wonder if this will ever be better.

Very good, thanks for your information, i always waiting for Your next information

wau Excellent .....
thanks.....

your post so informative i like you post so.much..thanks for sharing..

I know something new from your post.

Nice :) it benefits individuals in their transaction costs. Atleast they can gain more from that part.

Thank you for sharing this information .
Best of luck .

What exactly is SegWit?
could you explain?
Looks like it is something beneficial for Crypto and bitcoin traders.

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SegWit improves the overall transaction capacity of the Bitcoin network. I've explained it shortly in my post. More info here: https://en.wikipedia.org/wiki/SegWit or Google 'segwit' :)

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so we can say it fasten the bitcoin transaction.
Thanks for the information.

So call it Segwit, core, or whatever you want but as long as Bitcoin (BTC) is recognized by institutions and people as such, Bitcoin is here strong. Scam coin clones will never survive.

@penguinpablo Thanks for the useful information. I just hope the transaction keeps going well so as not cause the issue with massive drop coz right now it can be seen that the btc is doing well

Very good information @penguinpablo

sir i am a very poor Man. So, I am not give upvote for you. keep it.
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Hello!!, I'm new to the platform and even more so with the cryptocurrency theme. What you say means, that in the near future these decisions improve the behavior of Bitcoin and other alternative currencies like Steem?

@penguinpablo I am very happy for the increase in Segwit implementation, the effect of reduce in transaction fee and speed can not be over emphasize to bring bitcoin to the expected glory. BTC to the moon

Congratulations @penguinpablo.
Thank you very much for your post.
04.Nice post waiting to get more post with more information .............jpg

good news dear friends

DQmYK3tyh6RjdjpBibgF1mBtC5e4Bk2zhUv9dFcNV2NSxf3.gif Graphics gave a lot of good examples. good job and keep it up!

This is great news as not only does it support a less congested transaction pipeline but it also supports reduced transaction costs. This is also a prerequisite of scaling the network with resources like the Lightning Network.

That is awesome news.......>

Segwit will help BTC recovering from this dip, we already broke out of the downtrend line, which can mean very good news.

Personally, I was waiting for Coinbase to add Segwit so I can test the platform and see how better it works based on this development.

Good information post, keep it up!
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