Segwit Reading Assignment

Blockchain and Bitcoin 101
#2249
  1. To increase block size (IE BCH).
  2. It solved also the malleability issue.
  3. Segwit is compatible with second layers solutions/apps, by solving malleability it makes it more safe and reliable to relay on unconfirmed Tx data.
  4. No, it is a soft fork so just a majority is required.
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#2250
  1. What was a proposed alternative to Segwit?

To increase the size of the block from 1mb to 2mb which would have lead to a hard fork.

  1. What did Segwit solve more than just the scaling issue?

Transaction malleability whereby a receiver of a transaction could make a small change to the transaction signature/s resulting in a new transaction hash which could be broadcast to the network. This means the receiver of the funds would end up with more than was intended by the sender. This security issue was preventing further development on the bitcoin network including layer 2 scaling solutions and smart contract deployment.

Segwit solves this vulnerability by taking the signature out of the transaction and storing it separately. This means that if the recipient of a transaction was to change the transaction signature it would no longer alter anything in that specific transaction data structure. This means the transaction hash would remain the same so the recipient would only receive the intended funds from the sender.

  1. How is Segwit and the Lightning network connected?

Segwit removed the transaction malleability vulnerability which was preventing a lot of development on the bitcoin network, including layer 2 scaling solutions such as lightning network.

  1. Are people, wallets and other services forced to use Segwit?

No. Segwit is not a hard fork so people, wallets and other services could still do things the old way if they chose without it affecting the network. The improved scaleability and security segwit provides means it would be less likely that people would choose the old way though.

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#2251
  1. Increase block size
  2. Transaction malleability
  3. It made Lightning network possible
  4. No, wallets are given time to adopt, and also resulted to soft fork
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#2252
  1. What was a proposed alternative to Segwit?
    Increase block size.
  2. What did Segwit solve more than just the scaling issue?
    SegWit fixed transaction malleability by removing the signature information and storing it outside the base transaction block.
  3. How is Segwit and the Lightning network connected?
    Lightning network is a second layer protocol on Bitcoin.
    The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.
  4. Are people, wallets and other services forced to use Segwit?
    No, but the incentive is high, as people will choose the lower fees(which it offers compared to legacy transactions) of Segwit implemented wallets.
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#2253

1 incresing block size
2 transaction malleability
3 segwit is the supporter of second layer protocol (lightning network)
4 No. It is up to every one to this update, since Segwit happend many services still didn’t use it

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#2254
  1. What was a proposed alternative to Segwit?

Bitcoin cash, a hardfork that increases the block size instead of changing the block structure.

  1. What did Segwit solve more than just the scaling issue?

It solved the problem of tx maleability that would change the tx hash id by changing the signatures.

  1. How is Segwit and the Lightning network connected?

Segwit permits second layer solutions like the lighting network to work by making tx off chain and deploying it on the bitcoin network when both participants agree.

  1. Are people, wallets and other services forced to use Segwit?

No, Segwit is a soft fork.

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#2255
  1. What was a proposed alternative to Segwit?

From the Article: Resistance to SegWit was one of the factors behind the development of bitcoin cash, a fork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.

  1. What did Segwit solve more than just the scaling issue?

SegWit supports the development of second leayer protocols, such as lightning network. The Malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.

The lightning network will further boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain, only settling on the bitcoin blockchain when the users are ready.

It also boosted development of other features such a Merkelize-Abstract-Syntax-Trees which enables more complex bitcoin smart contracts, Schonorr Signatures which enable another transactio capacity boost and TumbleBit an anonymous top-layer network.

  1. How is Segwit and the Lightning network connected?

It is connected as a second layer protocols, enhancing bitcoin’s scope and poetential.

  1. Are people, wallets and other services forced to use Segwit?

No, no people, wallets and other services are force, to embrace the upgrade, users will increase for the time being, and as technological development drop fee rates and as the technology keeps up or Bitcoin maintains an edge with the competition, and as other coins get into the ecosystem and offer versatility and effective efficiencies Bitcoin will also be part of one more, ( to clarify,… I do not have anything against Bitcoin, it is just part of how market will make the call and this will be it, in the long run new ways of developing the store of value will also evolve and Bitcoin will not be one the gold standard for many users) If Bitcoin does not keep up with the pace of change and evolves with it, or if a revolutionary gem pop up as a store of value, it will not the base line, like it is now days. It will also be part of History and we all need not to be attached to it get the best of it without any emotions.

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#2256

  1. The proposed alternative to segwit was to increas the block up from 1mb. The problem with this proposal was still one of scaling; if the block size were invreased to 2mb for example, would block size hen need to be increased to 4mb, 6mb and beyond? Sure that would mean more transactions but the problem of transaction malleability still exists.

  2. Segwit also solved the minor bug issue of transaction malleability which granted anyone to alter small details that modifies transaction id in that current hash and subsequently the hashes there after.

  3. Segwit is the soft fork for Bitcoin that removes the witness signature from the transactions allowing more transactions to fit in the 1mb block. This soft fork, fixes the scalability and malleability issues and allows a second layer solution to be placed on top of Bitcoin protocol. This second layer, The Lighting Network allowd faster transactions times without broadcasting ownership of a petsond Bitcoin on the blockchain.

  4. People, wallets and other services are not forced to uses segwits. Just for reference a Bitcoin addresses that begins with a #1 is legacy address whereas addresses that begin with a #3 or bc1 are the addresses that are segwit addresses. As of day 12/6 I have not be able to find a platforn that uses legacy addresses. I uses mutiple paltforms and they all use segwit addresses.

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#2257

1 Increased blocksize eg Bitcoin Cash

2 Stopped ID malleability

3 Segwit removing digital signatures from the block data creates the second layer protocol for the Lightning network to exploit ie making for greater scalability/ faster transaction speed.

4 No, but greater adoption of Segwit renders legacy protocol redundant.

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#2258

  1. It was a hardfork which came to be rolled out as Bitcoin Cash.

  2. It also solved the issue of transaction malleability, which allows for attackers to edit the transaction ID such that they could steal Bitcoin.

  3. Segwit supports the development of second layer protocols such as the Lightning network.

  4. They are not forced to use Segwit. They can continue using the pre-Segwit protocol but that has security issues, or they can simply use another protocol such as Bitcoin Cash.

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#2259

What was a proposed alternative to Segwit?
Increasing the block size - forked to Bitcoin Cash

What did Segwit solve more than just the scaling issue?
Also solved the TX Malleability issue,
Also boosted the dev of:
MAST / Schnorr Signatures / TumbleBit

How is Segwit and the Lightning network connected?
Segwit allows for the dev of a second Layer = Lightning Network

Are people, wallets and other services forced to use Segwit?
No, but transactions are faster and cheaper, so why would you not.

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#2260
  1. Implementation of a larger block size.
  2. The transaction malleability.
  3. SegWit allows the development of second layer protocols such as lighting network.
  4. No, since SegWit is a soft fork.
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#2261
  1. It was proposed the increase of the block size, leading to the creation of BTC Cash due to a Hard Fork
  2. It solved transaction malleability by taking the part that was susceptible to the change out of the transaction.
  3. It made relying on unconfirmed transactions less risky. On top of it it enabled MAST, Schnorr signatures and TumbleBit
  4. No they are not because it’s a soft fork. However, its adoption is getting generalized as time passes.
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#2262
  1. a larger block size.
  2. it salved the tx malleability problem.
  3. lightning network builds upon segwit to move txs offchain until both parties are ready to commit it to the blockchain and are used for frequent small tx’s
  4. no
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#2263

1: making blocks bigger 1mb to 2mb
2: the mallaebility issue (security)
3: segwit allows for a second layer like lightning network…

4: no. You can decide not to

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#2264
  1. second layer solutions. such as anonymous tx, privacy coins nowadays
  2. lightning = 2nd layer protocol
  3. so consensus has changed, protocol = tx sign needs to be separatedly. => previously valid tx’s become invalid! => soft fork. If >50% hash power => no Fork. But: answer: not Forced! (but majority rules!!!)
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#2265
  1. What was a proposed alternative to Segwit? To increase the bitcoin network block size from 1mb to 2mb.
  2. What did Segwit solve more than just the scaling issue? Segwit corrected a bug in the bitcoin code known as malleability but additional by separating the signature information from transaction this great throughput of transaction.
  3. How is Segwit and the Lightning network connected? With segwit in place resolving the malleability bug it allows for the development of 2nd layer protocol such the light network.
  4. Are people, wallets and other services forced to use segwit? No there is legacy network which can be access by your wallet, well it could be at one time, my wallet had both options.
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#2266

  1. What was a proposed alternative to Segwit?

  2. What did Segwit solve more than just the scaling issue?

  3. How is Segwit and the Lightning network connected?

  4. Are people, wallets and other services forced to use Segwit?

  5. An increase in block size

  6. Tx ID malleability

  7. A second layer protocol

  8. No

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#2267

1. What was a proposed alternative to Segwit?
A: An increase in block size.
2. What did Segwit solve more than just the scaling issue?
A: Segwit also addressed the issue of transaction malleability.
3. How is Segwit and the Lightning network connected?
A: Segwit makes possible the use of a second layer solution such as Lightning and both improve BTC network scalability.
4. Are people, wallets and other services forced to use Segwit?
A: No. Segwit was accomplished via soft fork; however, non Segwit users would probably pay higer fees on average so they have an incentive to adopt.

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#2268
  1. Increased Block Size - This lead to Bitcoin Cash
  2. It also solved transaction malleability
  3. Segwit allowed for second layer protocols, such as the lightning network.
  4. No, it is not forced, as it is a soft fork solution. More and more wallets do add Segwit support.
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