2018: The Year of Cheaper Fees?
Bitcoin fees are likely to remain a hot topic throughout 2018 as efforts to lower the median cost of transacting the decentralized currency intensify. With the Lightning Network now having been successfully tested live, there are hopes that the off-chain scaling solution could be introduced sooner than initially expected, bringing with it the prospect of lower fees for all.
The high cost of sending bitcoin has forced many to look elsewhere, either to bitcoin cash, with its famously low fees, or to other altcoins which can be sent for less than a cent in many cases. In bitcoin’s earliest days, when blocks were empty, it was equally easy to complete lowcost transactions. the cryptocurrency markets are no exception to Metcalfe’s law, however, and should any altcoin start to approach the size of the bitcoin network, it will succumb to the same problem: a growing number of users trying to use a resource that can only process a finite number of transactions per second.
Speaking of laws, prominent bitcoin thinker Tuur Demeester cited Kleibers law, which governs the size of the world’s largest cities. Applying it to cryptocurrencies, he tweeted:
If Bitcoin City remains the largest of cryptocurrencies, Kleiber’s law suggests that over the long run it will be the ecosystem where resources are allocated in the most efficient way.
Fees and transaction times are still higher than desired, but if Kleiber’s law applies, it’s only a matter of time until the bitcoin metropolis becomes a model in city planning.
The following is a list of companies and software projects that are ready or preparing for segregated witness.
Name
Status
Notes
Depends
#1
1200wd
wip
library
#2
Abe
wip
block explorer
#3
Abra
planned
remittance
#4
AirBitz
ready
wallet
#5
Altana
ready
wallet
GreenAddress
#6
AnycoinDirect
wip
broker
bitcoin core
#7
Armory
ready
wallet
bitcoin core
#8
Authparty
planned
authentication library
bitcoin core
#9
Bcoin
ready
library
#10
Bernstein
wip
notarization saas
bitcoinjs-lib
#11
BetKing
wip
gambling
bitcoin core
#12
BFGMiner
ready
mining software
#13
BHB Network
ready
r&d incubator
bitcoin core
#14
BitBay
wip
exchange
#15
BitCloak
deployed
mixer
bitcoin core
#16
Bitclub
ready
mining pool
ckpool
#17
Bitcoin Embassy
ready
community hub
bitcoin core
#18
Bitcoin India
ready
exchange, pool
bitcoin core
#19
Bitcoin Knots
ready
node, wallet
n/a
#20
bitcoin-lib
ready
library
n/a
#21
bitcoin-ruby
ready
library
n/a
#22
bitcoin-s
ready
library
#23
BitcoinJ
wip
library
n/a
#24
BitcoinJS
ready
library
n/a
#25
BitcoinML
ready
library
n/a
#26
BitcoinReminder.com
ready
service
#27
bitcore-lib
wip
library
n/a
#28
Bitfinex
ready
exchange
#29
Bitfury
ready
mining pool
bitcoin core
#30
BitGo1
deployed
wallet
bitcoinj, bitcoinjs
#31
Bither Wallet
planned
wallet
#32
BitKong
ready
gambling
NBitcoin
#33
BitLox
wip
hardware wallet
#34
BitmainWarranty
ready
miner
#35
Bitminter
ready
mining pool
#36
Bitonic
ready
broker, exchange
#37
Bitrated
planned
wallet
#38
Bitrefill
ready
merchant
bitcoin core
#39
BitRocket
ready
ATM operator
#40
Bitsler
ready
gambling
bitcoin core
#41
Bitso
ready
exchange
bitcoin core
#42
Bitsquare
ready
exchange
n/a
#43
Bitstamp
deployed
exchange
#44
Bitstop
ready
atm operator
bitcoin core
#45
Bittylicious
ready
exchange
#46
Bitwala
wip
remittance
Bitgo
#47
BitWasp
ready
library
#48
Bity
planned
broker
bitcoin core
#49
Blockchain.info
ready
wallet, block explorer
#50
Blockonomics
ready
bitcoin tracker, block explorer
bitcoin core
#51
Blockstream
ready
satellite, wallet
#52
Blocktrail
planned
wallet, block explorer
#53
BreadWallet
wip
wallet
#54
BTC.com
wip
block explorer, wallet
#55
BTCC
ready
exchange, mining pool, wallet
#56
btcd
ready
full node
#57
btcpool
ready
pool software
#58
bustabit
wip
gambling
bitcoin core
#59
Bylls
wip
payment processor
bitcore
#60
cgminer
ready
mining software
#61
Ciphrex / mSIGNA
ready
wallet, library
#62
cixbg
ready
broker, financial services
BitGo, Kraken, Bitstamp
#63
CK solopool
ready
mining pool
bitcoin core, ckpool
#64
ckpool
ready
pool software
#65
Coinbase
planned
wallet
#66
CoinCheck
ready
exchange
#67
CoinCorner
wip
exchange
#68
CoinFalcon
ready
exchange
#69
Coinfloor
wip
exchange
#70
CoinGate
ready
payment processor
#71
CoinMall
ready
marketplace
bitcoin core
#72
Coinomi
planned
wallet
#73
Coinsource
ready
bitcoin atm network
#74
Colored-coins
planned
wallet, block explorer, blockchain-protocol-layer
bitcoinjs-lib
#75
Colu
planned
wallet, blockchain-application-layer
Colored-coins, bitcoinjs-lib
#76
CoPay
planned
wallet
bitcore-lib
#77
Counterparty
ready
wallet, blockchain-protocol-layer
bitcoin core
#78
CryptoBG
ready
exchange
#79
Cryptobuyer
planned
wallet
n/a
#80
CryptoGames
ready
gambling
bitcoin core
#81
Digitalbitbox
ready
hardware wallet
#82
DigitalMint
ready
on-demand, cash-to-bitcoin exchange
bitcoin core
#83
Dotbit.me
ready
dot-bit registrar, wallet
Bitcoin Core
#84
EI8HT
planned
wallet
bitcoin core, bitcoinjs
#85
Electrum
ready
wallet
#86
Eloipool
ready
pool software
n/a
#87
Exodus
planned
wallet
bitcoinjs
#88
F2Pool
ready
mining pool
#89
Fairlay
planned
Bitcoin Prediction Market
#90
Gatecoin
ready
exchange
bitcoin core, nbitcoin
#91
GDAX
planned
exchange
#92
Gemini
ready
exchange
#93
GreenAddress2
ready
wallet
pycoin, bitcoinjs
#94
GreenBits
ready
wallet
bitcoinj
#95
Hardblock
ready
Broker
bitcoin core
#96
HolyTransaction
wip
wallet, crypto-to-crypto exchange
bitcoin core
#97
inbitcoin
ready
payment processor
bitcoin core
#98
JoinMarket
ready
library, privacy solution, wallet
#99
Kaiko
planned
explorer
#100
KeeeX
ready
notarization and document proofs
#101
Keepkey
ready
hardware wallet
#102
Lamassu
ready
atm manufacturer
#103
learn me a bitcoin
ready
block explorer
bitcoin core
#104
Ledger Wallet
deployed
hardware wallet
#105
libbitcoin
planned
library
#106
libblkmaker
ready
mining library
n/a
#107
libbitc
ready
library
#108
libbtc
planned
library
#109
LocalBitcoins
ready
P2P Exchange
#110
Lykke
planned
exchange
NBitcoin
#111
Magnr
ready
broker, financial services
BitGo, Bitfinex, Bitstamp
#112
Mana
wip
wallet
BitcoinSPV
#113
MoneyBadger
ready
exchange, tipping, remittance
bitcoin core
#114
Mycelium
wip
wallet
#115
NBitcoin
ready
library
n/a
#116
NiceHash Solo
ready
solo mining pool
#117
NOMP
ready
mining software
#118
OKLink
wip
wallet, block explorer
#119
Omni Core
ready
wallet
#120
OpenBazaar
ready
marketplace
OpenBazaar SPV wallet
#121
OpenDime
planned
hardware wallet
#122
OtikaTV
ready
social video platform
#123
OXT
ready
blockchain analysis
#124
p2pool
wip
mining software
#125
Parity Bitcoin
ready
full node
#126
Paxful
ready
P2P Exchange
#127
Paymium
planned
exchange
#128
Purse.io
ready
e-commerce
wallet
#129
pycoin
ready
library
#130
python-bitcoinlib
wip
library
#131
Samourai Wallet
deployed
wallet
bitcoinj
#132
Satoshi Counter
ready
broker
bitcoin core
#133
ShapeShift
deployed
exchange
bitcoin core
#134
Simple Bitcoin Wallet
planned
wallet
bitcoinj
#135
SimpleFX
ready
broker, financial services
bitcoin core
#136
Slush Pool
deployed
mining pool
#137
Smartbit
ready
explorer
#138
SpicePay
wip
exchange, merchant
#139
Stampery
ready
blockchain notarization
#140
stratum-mining
ready
pool software
#141
TREZOR
deployed
hardware wallet
#142
UNOMP
ready
mining software
#143
Vaultoro
wip
exchange
#144
WageCan
wip
exchange
#145
Walltime
ready
exchange
#146
Woleet
planned
Data anchoring platform
bitcoin core
#147
XotikaTV
ready
adult social video platform
#148
Yogh
ready
block explorer
bitcoin core
#149
MiningRigRentals
ready
mining pool/rental services
n/a
#150
HitBTC
ready
exchange
Segwit status: deployed: 7, ready: 91, work-in-progress: 25, planned: 24
1 BitGo provides wallet services to exchanges such as Bitstamp and Kraken.
2 GreenAddress provides wallet services to TheRockTrading exchange, BitBoat and CoinBR.
wip: work-in-progress