The share of bitcoin transactions using the Segregated Witness protocol increased by 45% over the year.
According to the service transactionfee, On January 1, the share of SegWit transactions in the network of the first cryptocurrency amounted to a little more than 40%. Now this indicator is at around 58.18%.
Segregated Witness (SegWit) solution was activated August 24, 2017. The protocol eliminated a number of problems that stood in the way of Bitcoin, opening up opportunities for network scaling, including through Lightning network (LN).
In particular, with the introduction of SegWit, the method of storing data in blocks of the first cryptocurrency was optimized, which made it possible to increase network bandwidth and eliminate the problem of transaction plasticity.
Twitter user Rui Gomes noted that since the beginning of the year, the capacity of the LN network has grown from 515 BTC to 850 BTC, the number of nodes has increased from 4,800 to 10,900, and the number of public channels from 16,000 to 35,000.
2019 in bitcoin
? On-chain:
SegWit adoption from 40% to 58%
Hash Rate from 44EH / s to 100EH / s
118M + total transactions⚡️ Lightning Network:
Public network capacity from 515 BTC to 850 BTC
Public nodes from 4,800 to 10,900
Public channels from 16,000 to 35,000– Rui Gomes (@ 8bitgomes) December 30, 2019
Also, according to his observations, the bitcoin network hash has increased over the year from 44 EH / s to 100 EH / s, and the total volume of transactions exceeded 118 million.
The development of the Lightning Network is largely dependent on the adoption of this decision not only by individual users, but also by large exchanges and other popular services. So, recently a trading platform has added support for payments using this second-level solution Bitfinex.
“It is important that exchanges play the role of technology leaders and supporters of LN, – Paolo Ardoino, Bitfinex Technical Director shared his opinion. – Wait another one or two years and the channel limits will increase or eventually disappear, and the degree of reliability will increase significantly. ”
Recall that in the first half of December, support for native SegWit-addresses in bech32 format added BitMEX cryptocurrency exchange.
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