The share of bitcoin transactions using the Segregated Witness (SegWit) technology has reached a historic high and has approached 40%, Bitcoinist reports.
Data on the transactionfee.info portal, which show a rapid increase in the percentage of such transactions since the beginning of May, also attracted the attention of investor and entrepreneur Alistair Milne in his Twitter.
According to Milne, the main reason for the changes was the integration of SegWit operator of wallets and cold storage Xapo. President of the company Ted Roger confirmed the information on integration on May 24.
In the blockchain of bitcoin SegWit was launched in August of last year, but initially large operators such as Coinbase did not hurry to add support for the technology on their side, because of what its spread was slowed down. Currently, 38% of the transactions in Bitcoin’s blockchain use SegWit technology.
To further reduce the pressure on the bitcoin blockchain, the Exchange’s cryptocurrency also resorts to grouping transactions, minimizing the number of unspent transaction outputs (UTXO). Although the commission and the burden on the blockchain of the largest cryptocurrency fell along with its rate in early 2018, one of the recent studies suggests that grouping transactions can help further scaling bitcoin.
“If we encourage a culture of economical use of resources, bitcoin will be able to store more data in its blocks, and ordinary users will be able to continue to service their nodes in the foreseeable future,” the analyst writes. “We consider this a very fruitful development. Members of the community who advocated adding SegWit support and grouping transactions on the crypto-currency exchanges should be proud of themselves.”
Bitfinex, Binance and Shapeshift already group transactions, while Coinbase and Coinbase Pro only plan to start using the mechanism.