Bitcoin and altcoin pockets supplier is dealing with recent strain for forcibly making its customers pay increased transaction charges.

Reddit Mod Decries 31 Million New Legacy Bitcoin Wallets

Blockchain, previously often known as, is certainly one of quite a few Bitcoin wallets which doesn’t help Segregated Witness (SegWit) know-how.

SegWit permits for quicker and cheaper Bitcoin transactions by altering traits of the transaction itself, together with its measurement. 

Regardless of being obtainable since 2017, the advance has come up in opposition to criticism from some, who’ve voiced numerous issues about its implementation. 

Blockchain CEO, Peter Smith, beforehand mentioned he was a supporter of SegWit, however as of August 2019, its customers don’t have any choice however to make use of legacy Bitcoin addresses.

That, commentators have lengthy claimed, means in addition they don’t have any alternative however to pay over the percentages to have their transactions confirmed.

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

“That’s 31 million wallets that don’t support Segwit!”

Blockchain Not Alone In SegWit Avoidance

Blockchain’s complete person base at the moment stands at round 41 million. Regardless of being among the many oldest pockets suppliers, the corporate has repeatedly attracted controversy over its enterprise practices.

The controversy over SegWit help has raged since late 2017, whereas different strikes have attracted related scorn. Most not too long ago, it was Blockchain’s determination to companion with cost processor BitPay on a pockets integration which irked the neighborhood.

As Bitcoinist reported, BitPay’s personal stance on SegWit and altcoin Bitcoin Money has provoked enormous pushback. 

A PR blunder final week additional hit the headlines when BitPay failed to permit a Bitcoin person to ship a $100,000 donation to a charity combating the Amazon Rainforest fires.

But Blockchain and BitPay are removed from the one companies to keep away from SegWit. Binance, the cryptocurrency alternate which has loved a ‘positive’ popularity in current instances, likewise doesn’t provide SegWit addresses for merchants.

In Could, CEO Changpeng Zhao (often known as CZ) mentioned that whereas the know-how would possible seem on the platform in future, it was not an pressing characteristic for builders.

“SegWit is on the road map, but it’s kind of a lower priority because Bitcoin transactions do work right now, especially with Lightning Network, which have taken the load of Bitcoin main network,” he defined throughout an AMA session. 

“We want to strive to have the safest deposits and withdrawals, so [SegWit] is not a super high priority for us[;] we have got so much stuff that’s going on.”

What do you consider SegWit uptake? Tell us within the feedback beneath!

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