Faces Pressure To Offer 31M Bitcoin Wallet Users SegWit
news Faces Pressure To Offer 31M Bitcoin Wallet Users SegWit

THELOGICALINDIAN - Bitcoin and altcoin wallet provider Blockchaincom is adverse beginning burden for forcibly authoritative its users pay college transaction fees

Reddit Mod Decries 31 Million New Legacy Bitcoin Wallets

Blockchain, aforetime accepted as, is one of a cardinal of Bitcoin wallets which does not abutment Segregated Witness (SegWit) technology.

SegWit allows for faster and cheaper Bitcoin affairs by alteration characteristics of the transaction itself, including its size. 

Despite actuality accessible back 2024, the advance has appear up adjoin criticism from some, who accept accurate assorted apropos about its implementation. 

Blockchain CEO, Peter Smith, ahead said he was a adherent of SegWit, but as of August 2024, its users accept no advantage but to use bequest Bitcoin addresses.

That, commentators accept continued claimed, agency they additionally accept no best but to pay over the allowance to accept their affairs confirmed.

“Since Segwit was activated on Aug 1st 2017, Blockchain(.)info claims to accept created 31 actor new wallets,” BashCo, the adjudicator of Reddit subreddit r/Bitcoin, wrote on Twitter August 27. 

“That’s 31 actor wallets that don’t abutment Segwit!”

Blockchain Not Alone In SegWit Avoidance

Blockchain’s absolute user abject currently stands at about 41 million. Despite actuality amid the oldest wallet providers, the aggregation has consistently admiring altercation over its business practices.

The agitation over SegWit abutment has raged back backward 2017, while added moves accept admiring agnate scorn. Most recently, it was Blockchain’s accommodation to partner with acquittal processor BitPay on a wallet affiliation which annoyed the community.

As Bitcoinist reported, BitPay’s own attitude on SegWit and altcoin Bitcoin Cash has affronted huge pushback. 

A PR blooper aftermost anniversary added hit the account back BitPay bootless to acquiesce a Bitcoin user to accelerate a $100,000 donation to a alms angry the Amazon Rainforest fires.

Yet Blockchain and BitPay are far from the alone businesses to abstain SegWit. Binance, the cryptocurrency barter which has enjoyed a ‘positive’ acceptability in contempo times, additionally does not action SegWit addresses for traders.

In May, CEO Changpeng Zhao (known as CZ) said that while the technology would acceptable arise on the belvedere in future, it was not an burning affection for developers.

“SegWit is on the alley map, but it’s affectionate of a lower antecedence because Bitcoin affairs do assignment appropriate now, abnormally with Lightning Network, which accept taken the amount of Bitcoin capital network,” he explained during an AMA session. 

“We appetite to strive to accept the safest deposits and withdrawals, so [SegWit] is not a cool aerial antecedence for us[;] we accept got so abundant being that’s activity on.”

What do you anticipate about SegWit uptake? Let us apperceive in the comments below!

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