SegWit (Segregated Witness) – an update to the Bitcoin protocol, which allows for faster and cheaper transactions, currently received more than 50% acceptance. The previous record was set at the end at 48.1%.
This protocol, introduced two years ago, requires less data to process a transaction than the classic format, using a block size of about 1 MB and an average network speed of about 4 transactions per second.
In addition, SegWit brought a slight increase in block size, which, according to Diar, reaches an average size of 1.2 MB.
According to some studies, if the implementation of SegWit reaches 100%, the throughput of the Bitcoin network can be increased by 4 times.
Unfortunately, there are too many wallets that have not been upgraded to SegWit, despite the fact that the protocol was released about two years ago. Major wallets, including Trezor and Ledger, quickly integrated the update, but many exchanges dragged on the process to ensure complete security when switching protocols.
To understand whether the exchange or wallet has implemented the update, it is enough to check the figure with which the BTC address starts: all SegWit addresses start with the number 3 instead of 1.
Despite the fact that the implementation of SegWit has achieved good results in the Bitcoin network, they have not yet reached the Litecoin level.
In fact, LTC adopted SegWit before Bitcoin, acting as a testing ground for the new technology. As a result of an earlier introduction, Litecoin can count on a acceptance rate of about 69%.