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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.

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Three and a half years after the activation of SegWit, adoption of the space-saving transaction format is still far from ideal.

88% of all BTC transfers are overpaying transaction fees

2021-02-11T02:07:18+00:00

11783

Traders on Binance can now deposit and withdraw to SegWit (bech32) addresses.

Binance enables SegWit support for Bitcoin deposits as adoption grows

2020-12-25T21:53:00+00:00

30717

The Taproot conversation is continuing with the Bitcoin community having to decide how to begin the months-long activation process.

Six Months Later, Bitcoin Community Finally Debates How to Activate Taproot

Andrey Shevchenko

2020-07-15T19:30:00+01:00

4337

The 2017 ASICBoost controversy, which accused Bitmain of unfair mining practices, has resolved itself.

AsicBoost Dominates Bitcoin Mining, Solving Bitmain’s 2017 Controversy

Andrey Shevchenko

2020-03-12T19:25:00+00:00

5386

Data suggests that up to two-thirds of all Bitcoin transactions now use SegWit, as more exchanges begin supporting the protocol.

Bitcoin Network SegWit Adoption Hits 66% After BitMEX Embraces Upgrade

2020-01-05T14:30:00+00:00

7409

Cryptocurrency exchange BitMEX added support for native SegWit addresses for Bitcoin withdrawals, which lets users pay lower transaction fees.

Cryptocurrency Exchange BitMEX Enables Native SegWit Support

Adrian Zmudzinski

2019-12-12T11:49:00+00:00

3149

Bitfinex adds Bitcoin bech32 address deposits and withdrawals as its the exchange’s CTO hints at integrating Lightning Network in the near future.

Bitfinex Adds Bitcoin Bech32 Support — Hints at Lightning Network Next

2019-11-04T13:36:00+00:00

2769

A Twitter exchange between Binance CEO Changpeng Zhao and famous bitcoiner Udi Wertheimer could lead to long-awaited features being added to the platform.

Udi Wertheimer Offers to Promote Binance in Exchange for SegWit Support

2019-10-03T09:33:00+01:00

2921