Why is the SegWit adoption rate bullish? Some sources report there is data that indicates a growing number of all Bitcoin transactions are using Segregated Witness or SegWit. That number is as high as 66% according to multiple reports.
There are three main benefits to using SegWit. Segregated Witness is described by CoinTelegraph.com as a “soft work protocol that changes the method of storing data” proposed in 2015 as a way to address scalability issues for Bitcoin.
How SegWit Works
SegWit operates by “segregation of the digital signature from the transactions data”. CoinTelegraph’s description of the process reminds, “digital signature is 65 percent of transaction” and removing that from the data “will increase Bitcoin’s blockchain maximum size from 1MB to a little under 4MB”.
SegWit innovations have also improved security–it was possible before to alter the digital signatures on transactions but under SegWit such signatures are no longer part of the data. No corruption is possible (in this specific context) when the signatures simply aren’t available to modify.
Do you want to learn how to buy Bitcoin using Amazon gift cards? There is really not much to the process; you find a website serving as an exchange platform, you get matched or find matches for those seeking Amazon gift cards in return for Bitcoin, and make your transaction. Easy, right?
Except that people asking “How do I buy Bitcoin using Amazon gift cards” might not have the experience dealing in cryptocurrency to know the reputations of the platforms involved, the people buying and selling there, etc. How do you know if you are being scammed? How do you avoid getting ripped off?
Investing in Bitcoin (and other types of cryptocurrency) has definite pros and cons. Are you a newcomer to Bitcoin and digital currency in general? Here are some things to keep in mind when exploring your options for Bitcoin mining, spending, and investing.
Being digital, there are claims that Bitcoins can’t be counterfeited like paper money. That would seem to be a definite check in the “pro” column, but remember that while cryptocurrency may have some advantages in this department over physical currency, there are plenty of scammers out there operating everything from botnet spam email scams to bogus websites designed to look like legitimate operations–this “con” requires Bitcoin users to be more vigilant about the sites they visit and the offers they respond to.