Segregated Witness, Segwit - Discussion

I guess topic does not have direct connection to Segwit but, here Kirobo Startup found out the way to cancel transaction after sending. I think it doesn’t take any btc protocol changes but only wallets and exchanges

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Ok, that makes sense, thank you!

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I do have one question. In the segwit reading assignment, question 3 asks how Segwit and lightning are connected. What information I can only find, is that layer two solution connects them but past that, I did not find a more detailed explanation. Usually I do not ask many questions but I was interested in seeing if there was more to this answer. Thoughts? @filip

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Hey Mick.

To understand how they are connected we must first remember what issues segwit solved. It made the transactions smaller and it fixed a critical bug known as transaction malabilty. Transaction malabilty allowed an attacker to change the transaction ID while it was still unconfirmed. With the segwit update, we have made this manipulation impossible.

Lightning network operates strictly on unconfirmed transactions. All transaction that happen on the lightning network are off chain, and only the final result will be updated on the chain. As you can already tell, if there was no segwit, the lightning network would not be possible due to the transaction malabilty.

This is why we say that segwit enabled the second layer solution such as lightning network. :smiley:

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Segwit was a really creative solution. Is the what developers do or engineers and architects?

@filip Why do you write m (milli) when you talk about M (mega)?

Hello Community
Does anyone know in % terms approx how many more TXs can now fit into 1 block since the signatures were removed by the segwit update.

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Hey @BERGLUND can you tell me where did you saw that so I can notify him. Filip doesn’t have much time rn to answer on forum :slight_smile:

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This really depends on the tx itself. But witness data can be quite large and can take up to 60% of it. :slight_smile:

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More than once, almost everytime he is mentioning blocksize.

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I do not know if there are more but I think so.

Hi @BERGLUND I talked to Filip :slight_smile: he told me the same thing that teachers sometimes do that when writing on the board to test them…which I think you told me you do the same :wink:
By the way the problem is also with the b that should be capital B.
I must admit I didn’t notice that when I watched his videos way back when they were new. Guess I didn’t pay attention since I knew what he was talking about.
Anyway he promised me he’ll fix it when he redoes the videos. I’ll make sure of it! :wink:

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I need clarification on 2 things:

  1. How can the signature be changed by Bob, since it is already in the hashed code, so it would need to be brute forced. No?
  2. In the segwit transaction is the signature hashed?

I think I understand everything discussed about SegWit.

What I am wondering is when I set up my Ledger Nano wallet I was asked if I wanted my account to be SegWit or Native SegWit. What does this mean and what is the difference?

How are transactions verified when the siganture is not in there? And where are the signatures stored?

No, one could change some small part of data like for example switching the order of the locking script.

No this is the part that was replaced with a hash.

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How old is your Ledger? I didn’t have that option when I initialized mine. However the native Segwit is a bit improved version of Segwith which uses Bech32 addresses. They are even smaller which results in smaller fees. But I think you won’t be able to send your funds back to old addresses. I have to research this part a bit more :slight_smile:

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The signature is replaced with its hash, and the locking script is part of a separate data structure that some nodes store :slight_smile:

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It is only a month old. It is the Ledger Nano X which I believe is the newest model. I set it up using native segwit without really understanding the difference.

Please explain this a bit clearer. thanks

I think you should be fine :slight_smile: but some exchanges might give you an error when trying to withdraw to the address since they are a bit different :slight_smile:

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