Segwit adoption has hit an all time high of 18.3%

alyssa85

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Just to update on this: Coinbase say they are in the final stages of testing to enable segwit on their wallets:

https://twitter.com/coinbase/status/960656993122844673

Quote

Our engineering team has begun the final testing phase of SegWit for Bitcoin on Coinbase. SegWit compatible Bitcoin sends/receives will be available for customers in the next few weeks.

I think they are the last big exchange left that hasn't got segwit.

jseverson

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That's great, but I don't think any major exchange had anything to do with it. We were quite near that amount some blocks ago, as we can see, and it just plummeted. I don't see a constant gradual rise since that drop either. Segwit use is probably just as volatile as Bitcoin is. I wish we had a better way of measuring adoption because simply looking at the transactions in blocks is somewhat unreliable.

I guess something like this happening is good though, because it raises awareness. It might help fast track the development of exchanges' Segwit adoption.

filharvey

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Yes nowadays more people are getting aware of Segwit to avoid high transaction fee. It's a good development.

onnz423

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The mempool is definitely in better shape than previously, which is excellent news for bitcoin as even super low fee transactions are being confirmed quickly now, I sent a 40sat/b transaction earlier, and it confirmed within an hour, just a few weeks ago this would have taken a month to confirm. Definitely a welcome development.

Photographer

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Good news. If Bitcoin doesn't resume acceptable fees and an reasonably empty mempool more and more people would just drop it for something else.

HeRetiK

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Quote from: alyssa85 on January 28, 2018, 06:02:03 PM

[...]

See how it spikes up on the right hand side of the chart. This is probably the reason the mempool is almost cleared. Not sure who it is who has adopted segwit (one of the exchanges perhaps?), but it is a welcome development.

Great news. Mempool has declined for about a week now, even before the current spike of SegWit adoption, so I think it's the other way round. It seems more like people have taken advantage of the last few days of lower fees to move their coins to new SegWit addresses, so now a larger amount of people are able to send SegWit transactions. Keep in mind that for most of December Bitcoin was barely usable, so everyone who still had coins in legacy addresses was well advised to wait the congestion out before moving on to SegWit.

herecomesjohnny

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That growth has just revoked Roger Ver Segwit adoption theory about the slow progress!

https://twitter.com/rogerkver/status/906200085926522880

Clap, clap for unbelievers!

alyssa85

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Hat-tip for the following image to reddit:

See how it spikes up on the right hand side of the chart. This is probably the reason the mempool is almost cleared. Not sure who it is who has adopted segwit (one of the exchanges perhaps?), but it is a welcome development.

Topic: Segwit adoption has hit an all time high of 18.3% (Read 163 times)