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SegWit Network Facilitates 66% of BTC Transactions, Following BitMEX Embrace Efforts

By Warren Hayes | January 5, 2020

A new tech – dubbed “Segregated Witness”, or “SegWit” for short – has reportedly hit an unprecedented number of rate chosen to facilitate Bitcoin (BTC), latest data revealed. 

Specifically, as disclosed by SegWit.Space and other sources, the adoption rate of the protocol has witnessed a major incline, account for 66% of all Bitcoin transactions, up to January 4. 

The protocol experienced a surge in the amount of trading volume facilitated towards the end of last year, which went from roughly 40% in September to closing to 60% only a month after.

Different research has produced different statistics, however, SegWit.Space – a chart specialized to supervising these types of numbers – marked the existing SegWit propagation as 66%, other charts, nominally transacationfee.info and Woobull, the number stands at 59% at the moment. 

Nevertheless, the trio of charts all confirmed the bullish state of the general trend currently for SegWit, which was required to put in extensive efforts to get their acceptance, since officially rolled out in 2017. 

Specifically, SegWit – a tool particularly created to make Bitcoin transactions faster and more efficient, as well as to bring down BTC bulk – has suffered from a low level of implementation in the initial phase. Bitcoin proponents claimed that crypto exchange platform was hesitant with trying out the new tool has placed unnecessary pressure on the Bitcoin network.

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