How has segwit preformed vs bitcoin cash big block upgrade?

in #bitcoin8 years ago (edited)

Let compare the use of the two "upgrades". 

In UAHF: Bitcoin cash forked from bitcoin. Big blocks were added. Big block let you cram in more Tx in a block. This changes is system wide. 

In UASF, Segwit was added in the bitcoin chain. Segwit is a small 2 mb block optional increase with malleability increase thus allowing second layer ie LN to happen. This upgrade has the mode nodes and hashpower and exchanges backing. Segwit is not system wide and such must be adopted by users.

Segwit and big block were active in both chains for 7 months.

 The transaction volumes of Bitcoin Cash and SegWit address in bitcoin are reasonably similar. 

However remember bitcoin was going to 2x? So you could argue segwit was active for 6 months instead. 

  SegWit has 31.5% more cumulative transaction volume than Bitcoin Cash, larger than 20.1% but still reasonably close.  

 Although the data suggests that SegWit transaction have been adopted slightly faster than Bitcoin Cash, resulting in more transaction volume, Bitcoin Cash advocates could argue that the Bitcoin Cash token is more about a philosophy of larger capacity in the long term, rather than the speed of the actual increase in transaction volume in the short term. Therefore Bitcoin Cash supporters can still claim that Bitcoin Cash will eventually have more transaction volume than Bitcoin, once adoption of the coin increases.
 

However segwit has only just recently been passed the 30% mark.  

The SegWit upgrade was more gradually adopted vs the bitcoin cash fork. This is likely to be related to the investment flows and excitement of the new Bitcoin Cash coin, which may have driven short term adoption, as some of the spikes in the chart illustrate. Three months after the launch of Bitcoin Cash, on 31 October 2017, SegWit transaction volume overtook Bitcoin Cash and has remained in the lead ever since. 

 The chart below shows that the adoption of SegWit has continued to grow since August 2017, perhaps increasing in steps as large corporate entities switch to SegWit. Adoption currently hovers around 30% as a proportion of the number of transactions, although the adoption rate only measures around 22% as a proportion of block space.

This change is likely due to major exchanges like coinbase adopting segwit.  This data does not take in account of bech 32 an updated version of segwit which is 20% more efficient. 

 SegWit has begun to meaningfully impact system-wide capacity, potentially reducing fees and benefitting even users who choose not to upgrade to the new transaction format. 

Other techniques such as batching are not taken into account. 

 This is exciting news and with the fact other companies will be adding segwit soon. Segwit usage will increase. 

Coinbase is also said to be adding batching to bitcoin making the bitcoin chain more efficient. 

 My bitcoin lessons
How segwit is actually a big block increase= https://steemit.com/bitcoin/@sames/how-segwit-is-actually-a-big-block-increase
Why big blocks are not the answer= https://steemit.com/bitcoin/@sames/why-big-blocks-are-not-the-answer
LN nodes are NOT banks or like banks= https://steemit.com/bitcoin/@sames/ln-nodes-are-not-banks-or-like-banks
What is the lightning network= https://steemit.com/bitcoin/@sames/bitcoin-s-lightning-network-simply-explained
What is Schoor signatures= https://steemit.com/bitcoin/@tipu/the-next-big-thing-in-bitcoin-network-schnorr-signatures or https://medium.com/@SDWouters/why-schnorr-signatures-will-help-solve-2-of-bitcoins-biggest-problems-today-9b7718e7861c
Bitcoin’s ethereum killer-rsk.co= https://steemit.com/bitcoin/@sames/bitcoin-s-ethereum-killer-rsk-co
Bitcoin newest scaling method adding bech32 plus others= https://steemit.com/bitcoin/@sames/bitcoin-newest-scaling-method-adding-bech32-plus-others
Batching : https://steemit.com/bitcoin/@sames/how-bitcoin-fees-will-get-cheaper-with-out-a-block-increase
Adding privacy to bitcoin with softforks or compatible software: https://steemit.com/privacy/@sames/making-bitcoin-have-fungibility-privacy-again
Transaction speed count using the new tech coming to bitcoin=
https://steemit.com/bitcoin/@sames/segwit-bech32-batching-others-will-lead-to-bitcoin-reaching-passing-ethereum-on-chain-tps-level


My bitcoin privacy post series. Post #3 coming out this week!Introduction post: https://steemit.com/bitcoin/@sames/how-bitcoin-plans-on-adding-privacy-fungibilityOnchain privacy: https://steemit.com/privacy/@sames/on-chain-privacy-how-bitcoin-plans-on-adding-privacy-fungibility See ya!Have a nice day.
Off chain privacy: https://steemit.com/bitcoin/@sames/offchain-privacy-how-bitcoin-plans-on-adding-privacy-fungibility 


Article source: https://blog.bitmex.com/the-segwit-transaction-capacity-increase-update/

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