Though the much - hyped technology is well - known for two things - boosting average block size and paving the way for a secure Lightning Network - when SegWit finally activated on August 23, the code change didn't immediately trigger these benefits. (coindesk.com)
Despite the fact that a years - in - the - making change called Segregated Witness (SegWit) activated on the network just over six weeks ago (with businesses and users now slowly updating and average block sizes inching upward), the upgrade has already started a chain reaction of work on other optimizations geared toward accommodating more users. (coindesk.com)
Despite having less than 2 percent of the network's transactions SegWit - enabled, the solution has led to a 0.8 MB average block size, substantial drop in the size of bitcoin mempool from 150 million to 6 million bytes, and most importantly, the elimination of bitcoin blockchain congestion. (dailybitcoinnews.com)