Many things can happen soon in the world of Bitcoin. The solution to the scaling problem, known as SegWit, has finally improved its market position. Although this feature has been in place for over a year, it has only begun to influence.
Increase SegWit's Adaptation
Ever since the launch of SegWit on Bitcoin network, interest in it has been very small. In particular, its use remained below or around 10% for several months. Things have finally changed in a positive direction. Bitcoin needed this scaling solution. Otherwise, users have to pay large transaction fees. SegWit also increases the speed of transactions.
By adapting SegWit, things look a lot better now. There are several reasons why this is happening right now. Some of the key service providers have successfully integrated this solution into the scaling problem.
As things look like, almost 30% of all transactions with Bitcoin use Segregated Witness (SegWit). This increase is extremely positive for the entire network, but it is far from enough. In the ideal situation, this percentage should be at least 65%. Whether this will happen or not, remains to be seen. The new Bitcoin Core wallet client makes it easy to send transactions with SegWit, and this should help increase the percentage of transactions using Segregated Witness.
Can SegWit Keep Bitcoin?
Although this positive function is adapting more and more, there are still some spirits about the future of Bitcoin. Even with SegWit's adaptation, a lot of criticism has emerged over Bitcoin in recent months. Alternative coins are cheaper to use, provide almost the same benefits, and have great potential for price increases.
You have to keep in mind that SegWit is just the foundation for bigger things. Thanks to the Lightning Network, micropayments will become real on Bitcoin network. When this happens, there will be dozens of new opportunities ahead of Bitcoin. For now, the Lightning Network is still in beta testing, but there are already dozens of successful transactions. Nobody knows if Lightning Network will be a reality this or next year.
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