Crypto Expert: 2018 Is Most Successful Year For Bitcoin
Despite the long-term downtrend in the crypto market, 2018 was the best year for Bitcoin in the entire history, the cryptocurrency enthusiast and bitcoin trader Mark Doe stated on his Twitter account. In particular, he pointed out the success of the first cryptocurrency in terms of the network efficiency.
The technical director of the CasaHODL project and cryptopunk Jameson Lopp also twitted that 2018 was a very favorable period for the development of Segregated Witness, or SegWit. This protocol is a software add-on above the main chain, which frees up space to put more transactions into each block.
It is reported that the number of transactions in the SegWit network has increased fivefold — from 10% to 50% — since January 2017, when bitcoin price was on its annual maximum. SegWit has a number of benefits. For example, with its help, users can pay less transaction fees.
Moreover, 2018 was a breakthrough year for another technology of the second level — the Lightning Network. Its capacity increased to more than 500 bitcoins. The achievements of Bitcoin do not end here, as the developers released Bitcoin Core version 0.17.0.
As previously reported, the Blockstream project team expanded its satellite data transfer service on the Bitcoin network for the countries of Southeast Asia and the Pacific.