According to figures issued at the beginning of 2020, SegWit manages to achieve 66 % in adoption levels in all transactions made with Bitcoin.
Recent data show that transactions made with Bitcoin (BTC) using the technology called Segregated Witness (SegWit) managed to reach a unique point in its history, reaching an adoption level of 66 %.
An especial study which records information about the adoption levels and also about the use of transaction platforms, determined that since January 4th, more than half of all the transactions and operations made using BTC are conducted through SegWit. Besides, other portals which track the operations, such as SegWit.Space, also concluded that the platform remains above 60 % of all transactions made with Bitcoin.
Since the end of 2019 SegWit, an actualization of Bitcoin would have reached high levels of adoption. Since last September, 40 % of transactions would have been achieved so in October its use increased to 50 % of all transactions with BTC. When the 50% barrier was overcome, some analysts and experts pointed out that the adoption of this protocol for transactions with BTC would have achieved its establishment as a leader in transactions with this cryptocurrency.
It is currently the most used for transactions with BTC, so 2 out of every 3 transactions are made through this protocol. Some expert opinions indicate that shortly all transactions made with this digital asset will be made using SegWit.
Although these data point to the platform as the closest to achieving final adoption, there are still other portals which determine that it has not yet reached such high levels. For example, portals such as transacationfee.info and Woobull, the statistics initiative of Willy Woo, determine that SegWit only has 59% usage levels. Some data are comparable with others, but statistics may be determined by different variables that may or may not be summed up to current data.
Although these mentioned data do not coincide entirely with those of many others that place SegWit above 65% of the use in transactions with BTC, the vast majority certify that the protocol has a high tendency towards adoption over others. This manages to give positive results to the transaction protocol that since its launch in 2017 has improved its performance and loyalty with users.
Houses of Change Want to Implement SegWit in Their Services
When this protocol was launched in 2017, it might seem a luxury to implement it in the services offered by cryptocurrency exchange houses, but the high use of this tool today could now be a great necessity if users want to survive the accelerated changes of the cryptocurrency market.
SegWit is a protocol that was developed to improve the efficiency and speed of transactions with BTC. In this way, the high volume of transactions can be reduced.
Despite the obvious advantage of using this protocol for the network, its adoption proved to be slow and laborious. Some users accused the intermediaries and the exchange office of imposing a pressure that could be avoided by implementing this solution.
An example of this is found in the numerous complaints about companies such as Binance, which although it is currently one of the largest exchange houses in the crypto world, does not yet implement SegWit, which in many cases supposes a great weight to the network causing many criticisms from users to the exchange platform.
In response to these complaints, Changpeng Zhao, who is CEO of Binance, talked to the public in May 2019. He assured that developers and technical teams are in the task of solving these problems. Then, in October of last year, the Bitcoin support Udi Wertheimer said it would officially announce when Binance manages to implement SegWit in its processes.
Despite this need manifested by users, there is not an official pronouncement by the company. In this regard, this year promises that the adoption of this protocol will reach a higher level of use, even above the current level and many more platforms use it in their changes and services.
By María Rodríguez