66% of Bitcoin transactions have adopted Segregated Witness (SegWit), more mainstream exchanges will support

According to Cointelegraph reported on January 6, more Bitcoin transactions now use SegWit technology. According to data from SegWit.Space, as of January 5th, the agreement reached a proportion of all Bitcoin transactions. 66%.

bitcoin-3510168_960_720 (Image source: pixabay )

Nearly two-thirds of Bitcoin transactions now use segregated witness technology

The proportion of Bitcoin transactions using Segregated Witness technology has increased significantly by the end of 2019, jumping from about 40% in September to nearly 60% in October.

However, the statistical results of different data resource websites are not the same. SegWit.Space is a website dedicated to monitoring the adoption of Segregated Witness, which shows that Bitcoin transactions using Segregated Witness account for 66%. Other data sources, such as transitionfee.info and Woobull, a data resource provided by statistician Willy Woo, think this ratio is about 59%.

Nevertheless, all three companies believe that the general trend of Segregated Witness development is very optimistic. Since its release in 2017, it has taken a long time for Segregated Witness to be gradually accepted by users.

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Bitcoin network transactions using segregated witness technology continue to grow. Source: SegWit.Space

More exchanges start supporting Segregated Witness

Segregated Witness was originally designed to improve the speed and efficiency of Bitcoin transactions, while reducing the number of Bitcoin transactions, but it was initially less accepted by users. Proponents of Bitcoin believe that exchanges that are unwilling to try this technology have placed unnecessary pressure on the Bitcoin network.

Binance, one of the world's largest trading exchanges, has not upgraded to Segregated Witness technology. Currently, the exchange is still using traditional Bitcoin addresses.

In May last year, Binance Chief Executive Zhao Changpeng said that developers will work to solve this problem. Last October, well-known Bitcoin supporter Udi Wertheimer even promised that if Binance began supporting SegWit technology, he would personally advertise the exchange.

Just last month, derivatives giant BitMEX added support for Segregated Witness.