Hi there!
Five days ago SegWit was finally activated on the Bitcoin Network. Without going into details - it should allow us to not only pack more transactions per block but what's even more important - build a second layer on top of Bitcoin protocol for handling super-fast low-fee transactions - like Lightning Network.
Of course there are many concerns about the new technology but SegWit is in its very early days and it was very hard to say how many people are using it.
Thankfully, as always, there was some geek that decided to make our lives a little bit easier and created:
http://segwit.party/charts/
A very nice chart view of the SegWit Adoption. Currently you can see that the SegWit transactions are at 1% compared to all Bitcoin transactions. This is indeed a small number but it will be interesting to see how quickly in can rise. If we want to see Lightning Network working, we're gonna need a much wider usage of SegWit. Let's see if it happens :)
See you next time!
Other useful Bitcoin posts:
TradeBlock - Awesome Live Bitcoin Blockchain Viewer
How To Check Bitcoin Transfer Speeds (and how busy the Bitcoin Network is)
I was looking for this chart! Thanks
Thanks for the post. Upvoted and followed.
Adoption is always the key. How soon until most wallets are configured for Segwit? Is this even a part of the solution to the slow pace of processing transactions.
Time will tell.
Already the 2 hardware wallets - Trezor and Ledger are supporting SegWit :)
It is a start...two of the more common ones it seems.
Did coinbase set their wallets to accept SegWit do you know?
No idea, probably not yet :/
Nice and useful post.
Followed and upvoted.hope you will do the same.Let's help eachother.
Thank you.
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If Segwit is a progress, we have to accept it. So far, so good. All the main coins last week were increasing its value. So probably Segwit had some positive impact in that direction. Even Litecoin, that has not been over $50 for a while, this time was over passing $60.
This post has received a 2.21 % upvote from @booster thanks to: @cardboard.
It will significantly increases when exchanges start using.
What are your thoughts about BCH and SegWit2x? We are going to have another hard fork in november as part of the 'new york agreement'. I get the feeling that the soon to be 3-way bout will not be sustainable - people are looking to back the winner, not hedge on confusion.
Currently I got 95% of my crypto investments in BTC, anticipating a bull rally from the segwit activation, and possibly an adoption of free coins from another hard fork. However, looking at the finer points, the question comes to mind - is segwit enough of an upgrade? or has BCH got the right idea by 'over compensating' on expanding the block size?
If I have this correct, BCH with its already 8mb blocks can 'soft fork' into segwit down the track, but if BTC with segwit would need to hard fork in order to increase the block size?
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