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SegWit Transaction Percentage on BTC Blockchain Dips Below 10% Again

Avatar newsbtc 2 years ago

The activation of Segregated Witness on the Bitcoin network hasn’t done too many favors so far. The number of SegWit-capable transactions is still incredibly low. Without proper support form wallets and other service providers, this will not change. According to the charts, less than 10% of all transactions use this scaling solution. It is a very worrisome trend, to say the very least. Solving this problem will not be easy by any means.

Segregated Witness is designed to make Bitcoin scale in a major way. After a full year of opposition, the solution has now been active on the network. In fact, it has been for several months already. For some reason, there is a low number of SegWit transactions on the Bitcoin blockchain. This number is decreasing below 10% once again as well. For some reason, the lack of native support is not being resolved whatsoever. This has been a problem for many months now and only gets worse.

SegWit Adoption Struggles to Surpass 10%

According to recent statistics, less than 10% of Bitcoin transactions use Segregated Witness. Although this is not a big change compared to a while ago, it’s not positive either. Some blocks show a slightly higher percentage, but it’s pretty bleak overall. Until service providers and wallets finalize integration, the number will not change. These companies have struggled to finalize this process. Not entirely surprising, as the code is still pretty messy right now.Integration this project has been cumbersome, to say the least.

It is unclear if any big changes will occur before the year is over. Until we see some big improvements, the Bitcoin ecosystem will continue to struggle. Moreover, it also shows the Bitcoin Cash team may not have been entirely wrong in their decision. Scaling comes in many different ways, although SegWit seemingly presented the best solution. It seems a lot of people tend to disagree, otherwise, we would have seen better integration already. A very problematic turn of events, to say the very least.

It will be interesting to see how this situation evolves in the coming weeks and months. Bitcoin can easily be attacked with spam transactions.  Such an attack occurred not too long ago. Without a real scaling solution, issues like these will continue to occur on a regular basis. A solution has to be found sooner or later. That is much easier said than done, unfortunately.

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