Segwit adoption is rising to 25% right now

in #bitcoin7 years 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...

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

hehe cute girl right

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

Good information post, keep it up!
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@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

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.

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