THE VOLUME OF SEGWIT TRANSACTIONS IN THE BITCOIN NETWORK REACHED 90%

Portal p2sh.info tracking the performance of the Bitcoin network reports that the total volume of transactions that were sent using SegWit technology has reached 90%. At the same time, in quantitative terms, such operations occupy only 45%.

This difference in numbers is due to the fact that almost all major exchanges have already switched to the use of SegWit, and it is from the wallets of various exchanges is a large volume of transactions. In the near future, this protocol will be supported by other exchanges, for example, the Gemini platform plans to add support for SegWit in the first quarter of this year.

It is noteworthy that the use of SegWit transactions, most likely, led to a significant reduction in fees in the Bitcoin network to the level of 2014, although the daily number of transactions increased to the level of January 2018, when the rate of the first cryptocurrency reached $20,000.

Recall that SegWit technology was activated on August 24, 2017. It is designed to scale the Bitcoin network and improve security. It allows you to approximately double the total “weight ” of transactions in the block. This technology is backward compatible with network clients that do not support the protocol.