Bitcoin, this year is a year of polarization: although prices fell 83% in 2018, but it still made great progress. When speculators see prices continue to fall, they will not see the bitcoin network achievements — but no matter how the price, the development of bitcoin continues.
In the past 1 years, the popularity rate of bitcoin is more wide, institutional investors began to participate, improved code also continued, which proved its good future.
This is a list of the upcoming 2019, bitcoin glory years in 2018 “”.
1. isolated witness penetration rate
Isolation of witness (SegWit) is the bitcoin protocol upgrade, officially activated in last summer. The number of upgrades to the bitcoin trading block has been improved.
Isolated witness through so that transactions become more “light” to reduce the required capacity, because it no longer needs to contain the witness information, and also supports lightning network layer 2 technical scheme.
The main obstacle is that the popularity of isolation to witness the wallet and the exchange must be compatible from traditional bitcoin address to witness the address transformation and isolation. This year, almost all the major exchanges and wallet manufacturers have begun to accept the isolation witness address, including Coinbase, Bitfinex, Ledger and Trezor etc.. The isolation rate of witness popularity increased from 10% to 40%.
This is a great progress in bitcoin, especially when the witness is activated isolation has experienced many twists and turns.
2. institutional investors
This year, bitcoin ETF did not pass is considered to be a major shortcoming, but we certainly see more and more institutional investors began to accept bitcoin. Fidelity Investments, Yale University, the New York stock exchange and Square Inc. are interested in this field.
Fidelity Investments specifically for institutional investors to launch a bitcoin and etheric Fang assets such as service platform, the investment company currently manages assets has reached 7.2 trillion.
Yale has established a $30 million endowment fund, made a strategic investment in the field of encryption (it is reported that bitcoin assets accounted for the largest proportion of investment).
The New York stock exchange parent company Intercontinental Exchange announced the establishment of a dedicated digital asset of the company Bakkt. Bakkt will launch a one-day delivery bitcoin futures products in January 2019. The company also said it will Boston Consulting and Starbucks, Group and Microsoft together, to provide support for the development of this industry.
The mobile payment service The Cash Square Inc. research App from the beginning of this year to allow the United States to users in the trading of bitcoins. Square CEO Jack Dorsey is also on twitter CEO. The The Cash App had been on board the iOS and Android equipment downloads list of the first – this is a very significant development, because investors bitcoin become more convenient.
Lightning network penetration rate of 3.
For most bitcoin supporters, lightning network is their preferred layer 2 expansion project. The pledge on the network bitcoin value has more than 200 million, the number of nodes also realized the leap from 0 to 4400.
This year, the bitcoin network is increased by nearly 60%, which means the important infrastructure investment is more and more big, the bitcoin network safety and predictability will be more and more high.
Is the network promotion means more and more health, launched 51% attacks will be more difficult. Bitcoin network force growth is likely because the mining giant admission brought more equipment caused by. This year we also witnessed the stress and difficulty of high.
5. progress code
Progress in Schnorr Signatures and repair some significant vulnerabilities is the focus of the development of bitcoin this year. In the short term may not be integrated into the Schnorr Signatures Bitcoin Core, provides a solution for privacy but progress of this code for bitcoin expansion, indicates that the digital books privacy technology is an important step.
In this code let bitcoin transaction privacy become possible, privacy is the bitcoin missing link. Bitcoin Core developers are constantly seeking to improve the network programs, never stop “toss”.
In addition, Core developers have successfully repaired a legacy code problem for two years in the Bitcoin Core, and the information publicity. They also help Bitcoin Cash to repair the vulnerability.
6. more independent users
Address number usually measure for the popularity of bitcoin rate, the number increased by 50% in the year.
However, note that this is not a measure of accurate method of penetration, because a user can hold multiple address; but it is still the most effective statistical method.
Even if the market in the winter, the popularity of bitcoin still did not stop. “What is bitcoin bitcoin 2018 boarded the hot search list in some countries.
7. fierce competition
2017 years, we have witnessed the most controversial bitcoin history of hard – Bitcoin (BCH) Cash bifurcation bifurcation. After the bifurcation, many people think that BCH can go beyond bitcoin in price.
By 2018, BCH prices fell sharply, there is a split network. Although everyone will have different views, but many community participants believe these differences are positive for the future development of the network.
BCH is not the only bitcoin “Challenger” – and ICO in 2017 after the fever, bitcoin market value accounting has increased by 16%, reaching a record high.
8. lower fee
This year, bitcoin average fee reduced from 28 dollars to 0.3 dollars, this is bitcoin prices due to a great extent. In order to calculate the bitcoin network, the average transaction cost decreased by about 97%, which is obviously more friendly to the admission of new users.
Lower fees for bitcoin is a good thing? Maybe. On the one hand, the fee for the protection of network security is very important, in addition to the factors outside the driving action of the miners block award. After the total bitcoin reaches the upper limit, block reward does not exist, the incentive fee will be the only income of miners…… The only way to protect the network security of both: fees or inflation.
On the other hand, last year bitcoin fees soared to $50, and the transaction confirmation need to wait several hours, therefore, bitcoin transaction cost and speed has become the object of criticism of the people.
In order to optimize the user experience and security, network cost baseline is undoubtedly a crucial point in 2018, we may have reached a reasonable range.
The road is long, Hodl
The 8 progress bitcoin indicates that it will have a more bright future. A year later, maybe we will recall one of the greatest achievements of bitcoin achieved in 2018 during the bear market, the price is low enough to allow us to hoard more.
In 2019 we can see the Bakkt delivery bitcoin bitcoin ETF futures products; perhaps by lightning; network will also face more rapid growth.
Hold the hands of bitcoin, perhaps next year is the volatility of the year.