SegWit And Bitcoin Unlimited Support Remains Equally Flat

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It is evident Segregated Witness support is not advancing as most people would have liked to see me. Over the past few weeks, the adoption rate has stagnated, and even shows signs of a decline on the charts. Despite Japanese Bitcoin exchange Coincheck openly stating they plan to support SegWit, the bigger question remains if this solution will ever be activated on the network.

/r/BTC Has Little Confidence In Segregated Witness Activation

The discussion revolving around Segregated Witness has been going on for quite some time now. A part of the Bitcoin community welcomes this solution, whereas another part thinks it is a waste of time and development. Moreover, considering the number of companies supporting SegWit, it only seemed to be a matter of time until this fork would activate on the network.

That being said, the developers who created this solution have put in a lot of time and effort to make sure the code is viable. Although there is always room for improvement where bitcoin development is concerned, there’s no reason for the Bitcoin community to slag off developers either. Everyone is welcome to contribute to Bitcoin and attempt to gain enough support to make sure their changes get activated on the network.

On the same note, it appears Bitcoin Unlimited is not gaining the much support either as of late. Everyone knows Bitcoin needs to scale if the network wants to grow, yet it seems the vast majority of miners are not for either solution right now. That is not a positive development for Bitcoin by any means and highlights a larger underlying problem that needs to be addressed as soon as possible.

To put this “news” into perspective, the SegWit support levels have not decreased all that much. Instead, the percentage seems to hover between 25% and 30% for quite some time now, with no real progress being made as of late. What does matter, however, is how the solution remains long ways away from the 95% activation threshold that is required. Although this arbitrary number can be changed by the developers if needed, it appears a majority consensus is nearly impossible to achieve anytime soon.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

View all posts by JP Buntinx

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