Blockchain .info announced Segregated Witness support

According to the announcement of one of the most popular Bitcoin wallets, SegWit will be implemented in the 2018 Q1
16 November 2017   23864

Team of the Blockchain .info, one of the most popular Bitcoin wallet, announced that full Segregated Witness (SegWit) support will be implemented in the first quarter of 2018. Also, Bitcoin Cash support is coming in December.

SegWit protocol was activated in August this year, but a number of services and companies have not yet implemented it into their codebase. On the background of a mempool, full with spam transactions and an unprecedented growth in commissions, the representatives of the bitcoin community have recently begun to appeal to large companies like Blockchain .info, Coinbase and BitPay with questions when this happens.

The official answer of Blockchain.info was given on Wednesday, November 15, and although it talks about the upcoming support of SegWit, some points in the statement of the British company raise questions.

In 2018 we will be rolling out support for SegWit within our wallet products. This will be a major and complex update to some of the most sensitive parts of our codebase, across a wide variety of platforms and devices, affecting billions in user transactions with potentially significant privacy implications. We will do this cautiously but also with consideration for the rising miner’s fees within the bitcoin ecosystem. We are excited about the advances SegWit offers and we plan to begin making it available within our wallets in as soon as possible in 2018, with an eye towards rollout in Q1.
 

Blockchain .info Team

At the same time, the company notes a steady demand for Bitcoin Cash and plans to add full support for the altcoin. Until the end of 2017 BCH will appear in the web version of the wallet, and until the end of the first quarter of 2018 - in mobile applications for devices on Android and iOs.

Also, interesting thoughts can be found about the canceled SegWit2x. It is also worth reminding that CEO of Blockchain. info, Peter Smith was one of six supporters of SegWit2x, on behalf of whom last week a statement was issued to cancel this hardfork.

We recently communicated that our service would be unavailable during the Segwit2x hard fork. While plans for the hard fork have been suspended, there may be some network instability at block height 494,784.
We’ll be monitoring the network closely. Should network instability threaten the safety of our users’ funds, we may briefly suspend outgoing bitcoin transactions but anticipate any suspension to last no more than 1h.
 

Blockchain .info Team

 

Bitmain to Reduce BTC Mining Hashrate by 88%

Total hashrate of Bitmain equipment used for mining on the SHA-256 is 237.29 PH\s; month ago it was 2072 PH/s
08 May 2019   241

The leading manufacturer of mining equipment Bitmain in the past 30 days has reduced the hashrate of bitcoin mining by 88%. This is evidenced by data reporting, which the company publishes monthly.

As of May 7, the total hashrate of the equipment used by Bitmain for mining cryptocurrencies on the SHA-256 algorithm (Bitcoin and Bitcoin Cash) is 237.29 PH/s.

Bitmain's Hashrate on Different Algorithms
Bitmain's Hashrate on Different Algorithms

At the same time, just a month ago, the volume of the respective capacities was 2072 PH/s.

Based in Beijing, Bitmain not only manufactures equipment that is popular among miners, but also mines cryptocurrency using its own resources. The company began to publish reports on the available mining facilities in July last year. At that time, the hashrate of SHA-256 equipment was 1692 PH/s.

By October 2018, the hashrate had risen to 2339 PH/s, but by March it had already dropped to 1700 PH/s. Against this background, the share of Bitmain's computational power in the total bitcoin hashrate decreased from 4% to 0.4%.

After the April BTC price recovery, the amount of computing power of Bitmain began to grow again. At the same time, the total hashrate of the first cryptocurrency network, which has updated the six-month maximum by the beginning of May, began to recover with confidence.