SegWit Continues To Gain Support Among Bitcoin Community Members

Ever since the signaling for Segregated Witness began, there have been some doubts regarding its chances of success. Looking over the Bitcoin Core adoption page, it is clear quite a few companies and mining pools are in favor of embracing this solution. Several of them have completed the process, whereas others are still adding the final touches. But does all of this even matter if the community remains divided on this course of action?

Consensus Means Community Support

Reaching an agreement over whether or not Segregated Witness is the best course of action for bitcoin development will be virtually impossible. Even though the number of companies and mining pools supporting SegWit is growing, the community remains divided. Bitcoin is a protocol that hinges on its community, and any division among members is a cause for concern.

Although the eventual “decision” will be made by the Bitcoin miners, they have a responsibility to bear as well. Miners are well aware of how the community feels about SegWit right now, and pools should not signal support of not all of their members are on board. The only Bitcoin mining pool honoring this decision is Slush pool, which is partially in support of SegWit, and partially not.

As far as the community goes, the majority of SegWit support seems to come from wallet providers and mining pools. Bitcoin Core remains the largest branch of Bitcoin development, and they have gained a lot of support in the past few years as well. However, they only represent a part of the community, and should not necessarily be used as a metric to say people’s minds. To check the updated list of companies supporting SegWit, click here.

For all of the arguments debating against Segregated Witness, it remains to be seen how seriously most of these efforts should be taken. Bitcoin Unlimited, while a significant competitor, seems to suffer from a lack of support in recent weeks. The ViaBTC mining pool hashrate has dipped, although that could only be a temporary change.

In the end, it all comes down to advancing Bitcoin as a protocol. Segregated Witness seems to be the best chance we have at achieving success in the long run. Then again, it is not without drawbacks, but so is any other solution. For the average consumer who is not into Bitcoin just yet, all of this bickering makes cryptocurrency appear even less appealing than before. It is due time to put all of these problems to rest once and for all, and larger blocks need to be introduced before the end of the year.

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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.