The number of Bitcoin transactions now using Segregated Witness (SegWit) has just passed the 50% threshold. Over half of all activity on the network now incorporates the soft update which helps to lower transaction fees and block congestion.
With Bitcoin’s hash rate seemingly going parabolic, another one of Bitcoin’s fundamentals is also steadily improving. The network for the leading cryptocurrency has just reached a milestone with 50% of all its transactions being on SegWit now. This is a steady uptick from July when it peaked at around 48%.
SegWit was released in August of 2017 but has been slow to be implemented by exchanges and wallets. However, it has just passed the 50% threshold, a milestone which has been over two years in the making. The SegWit update was meant to ‘soft fork’ the network as to make blocks more efficient. Fees have slightly decreased as a result. There is some evidence that SegWit adoption tends to increase when fees are higher on the Bitcoin network. For example, when Bitcoin transaction fees rose from $0.54 to $2.36 in May, SegWit payments also increased from 40.4% on May 1 to 45.7% on May 18.50% of all #Bitcoin transactions are now #segwit ✅ pic.twitter.com/ULMILjpvv9
— Dave Parker (@Xentagz) September 16, 2019

Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored