News
Three and a half years after the activation of SegWit, adoption of the space-saving transaction format is still far from ideal.
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SegWit News
Segregated Witness or SegWit is a soft work protocol that changes the method of storing data. It was presented in December 2015 by Pieter Wiulle as a solution to Bitcoin’s scalability problems.
The core concept of SegWit is a segregation of the digital signature from the transactions data. As the digital signature is 65 percent of transaction, removing it from the data will increase Bitcoin’s blockchain maximum size from 1MB to a little under 4MB. SegWit could also help with fixing a bug called “transaction malleability,” which is when anyone could change some small details and modify the transaction ID. This bug prevented the development of new features for Bitcoin.
Segregated Witness was activated on August 24, 2017. Still, not everyone who accepts SegWit as Bitcoin can still work using the old protocol. Only around 30 percent of transactions are using a new format at the day of writing this article.
- News
Traders on Binance can now deposit and withdraw to SegWit (bech32) addresses.
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The Taproot conversation is continuing with the Bitcoin community having to decide how to begin the months-long activation process.
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The 2017 ASICBoost controversy, which accused Bitmain of unfair mining practices, has resolved itself.
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Data suggests that up to two-thirds of all Bitcoin transactions now use SegWit, as more exchanges begin supporting the protocol.
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Cryptocurrency exchange BitMEX added support for native SegWit addresses for Bitcoin withdrawals, which lets users pay lower transaction fees.
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Bitfinex adds Bitcoin bech32 address deposits and withdrawals as its the exchange’s CTO hints at integrating Lightning Network in the near future.
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A Twitter exchange between Binance CEO Changpeng Zhao and famous bitcoiner Udi Wertheimer could lead to long-awaited features being added to the platform.
2921 - Explained
SegWit is an often misunderstood concept in the blockchain sphere, and for those just now entering, it’s crucial to get it right.
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The percentage of Segregated Witness-spending Bitcoin transactions has reached an all-time high of 50.5%.
3844 - Explained
The block size debate is among the most contentious discourse in Bitcoin, having spawned numerous community rifts and contested proposals.
1276 - News
New report says after its hard fork on May 15, bitcoin cash experienced a 2-block reorganization possibly resulting in a 3,392 BCH (over $1.35 million) double spend.
9323 - News
Two miners have purportedly executed a 51% attack on the bitcoin cash blockchain.
26362 - News
Average bitcoin transaction fees increased by nearly 200% in April compared to March.
5350 - Analysis
Bitcoin was brought to life in Satoshi Nakamoto’s white paper 10 years ago and Cointelegraph takes a look at the whirlwind decade since its inception.
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