Segwit Reading Assignment

Blockchain and Bitcoin 101
#2350

What was a proposed alternative to Segwit?
Increasing the block size to 2mB.

What did Segwit solve more than just the scaling issue?
The tx malleability issue.

How is Segwit and the Lightning network connected?
Off chain usage is now less risky as the transaction can be validated at all times due to the fact that the signature can accompanied by the tx can not be changed anymore and will not change the tx id.

Are people, wallets and other services forced to use Segwit?
No, because it is still possible to store the signature inside the transaction, but the transaction will just have more weight and therefore need a higher tx fee.

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#2351
  1. What was a proposed alternative to Segwit?

The alternative to Segwit was to increase the blocksize.

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

It solved the transaction malleability issue.

  1. How is Segwit and the Lightning network connected?

By solving the transactions malleability issue, segwit made it possible to develop second layer protocols like the lighting network.

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

Segwit was an softfork so no one is forced to use it. But the faster transaction speed and lower fees will lead to an mass adaption in the future.

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#2352

  1. What was a proposed alternative to Segwit?
    Increase the blocksize to 2mB.

  2. What did Segwit solve more than just the scaling issue?
    It also solved malleability by removing signatures from the tx.

  3. How is Segwit and the Lightning network connected?
    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.

  4. Are people, wallets and other services forced to use Segwit?
    No it was a softfork, older nodes are still present on the network which do not implement it.

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#2353
  1. What was a proposed alternative to Segwit?

The alternative to Segwit was to increase the block size of limit which required a hardfork and was implemented by bitcoin cash.

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

Segwit also solve the transaction malleability issue that provide an opportunity for a transaction to be hacked by modifying the transaction’s id.

  1. How is Segwit and the Lightning network connected?

Segwit allows the Lightning network and other second layer protocols because it fixed the transaction malleability issue making unconfirmed transactions less risky.

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

No. Transactions can still be submitted from wallets that don’t yet support the Segwit upgrade.

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#2354

1. What was a proposed alternative to Segwit? - Bitcoin Cash, was an alternative solution to the blocksize problem, which however was a hardfork in which the blocksize was increased to 2MB.
2. What did Segwit solve more than just the scaling issue? - In addition to the scaling issue, which Segwit has attempted to solve, Segwit also solved the transaction malleability issue and 2nd layer compatibility issue.
3. How is Segwit and the Lightning network connected? - Segwit enabled the development of various second layer solutions, such as the Lightning Network (and MAST, Schnorr signatures, and TumbleBit), because of the transaction malleability fix enabled via Segwit, which was a fix of the flaw that allowed anyone to change small details that modified the transaction id, including the receiver in a bitcoin transaction.
4. Are people, wallets and other services forced to use Segwit? - Segwit is a softfork, so that the nodes of the bitcoin network are not in any way forced to accept the update, unless more than 50% of the network implement the update voluntarily.

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#2355
  1. Increase block size
  2. Malleability issue
  3. Segwit made it possible to build second-layer protocols like Lightning network
  4. No, because it was a soft fork
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#2356

  1. What was a proposed alternative to Segwit? Larger block size limits were proposed as an alternative to Segwit

  2. What did Segwit solve more than just the scaling issue? It made possible the development of second layer protocols and enabled the production of smart contracts.

  3. How is Segwit and the Lightning network connected? Segwit was activated on Lighting network on May 10th, 2017.

  4. Are people, wallets and other services forced to use Segwit? Segwit is the BTC protocol, however, those who desire to use the increase in block size solution can use BCH.

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#2357
  1. increase block size to 2MB
    2)solved transaction Malleability
  2. he made the Lightning network possible
  3. no it was a soft fork
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#2358

You can also still make old style tx on Bitcoin as well. :slight_smile:

#2359

Segwet Reading Assignment

  1. What was proposed alternative to Segwit?
    a. The alternative was to increase the block size
  2. What did Segwit Solve more than just the scaling issue?
    a. Segwit also solved transaction malleability.
  3. How is Segwet and the lightning network connected?
    a. Segwit solved the transaction malleability that was needed for the Lightning network (a layer 2 protocol that operates on the blockchain) to work efficiently.
  4. Are people, wallets and other services forced to use Segwit?
    a. No, because it is a Soft Fork.
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#2360

1 - The probosed alternate solution to segwit was to double the block size from 1MB to 2.

2 - it solved a bug in which a small change could be made that would change the transaction id.

3 - segwit allowed the development of layer 2 protocols such as the lightning network.

4 - not forced since it is a soft fork.

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#2361
  1. doubling the blocksize from 1mB to 2mB
  2. segwit solve the problem of Tx id malleability.
  3. segwits allows for development of sec layer for bitcoin (and other chains), since the lighting network is a second layer it uses segwit
  4. No, previous option can still be used
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#2362

A larger blocksize was proposed, but this would introduce more problems, such as more hardware requirements and a slower propagation time.

Segwit also solved the transaction malleability problem by removing the signature from the transaction.

The lightning network moves transactions off-chain to reduce the number of transactions being processed on chain

People are not forced to support Segwit, but it is in their best interest to support it, as it is the updated standard

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#2363

  1. What was a proposed alternative to Segwit?
    One suggestion was to improve the maximum block size to 2 MB. This would later lead down the road to the Bitcoin Cash fork.

  2. What did Segwit solve more than just the scaling issue?
    Segwit also solved the issue of transaction IDs being able to be changed.

  3. How is Segwit and the Lightning network connected?
    The transaction malliability issue was a major risk for 2nd layer solutions that relied on unconfirmed transactions. Segwit removing the issue allowed those to go forward.

  4. Are people, wallets and other services forced to use Segwit?
    No, they can still send without it. It took time for many of the main players to get it adopted.

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#2364

  1. Increasing the block size.

  2. Transaction malleability.

  3. Segwit allows second layer solutions to be more readily adopted.

  4. No. As of 21/12/2020 close to 40% of transaction use segwit addresses.

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#2365

1.- An alternative was to do a hardfork with a higher block size of 2MB

2.- It also solved the problem of transaction malleability

3.- 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.

4.- No, old addresses and transactions can still be used

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#2366

1. What was a proposed alternative to Segwit?
The proposed alternative to Segwit was to increase the 1MB block size.

2. What did Segwit solve more than just the scaling issue?
In addition to scaling issues, Segwit solved the problem of Tx malleability by supporting the signature. Additionally, SegWit allowed for second-layer protocols such as the lightning network, MAST, Schnorr signatures, and TumbleBit to be built on top of Bitcoin protocal.

3. How is Segwit and the Lightning network connected?
SegWit allowed the development of second layer protocols such as the Lightning network. The lightning network will help increase bitcoin’s Tx capacity by taking small Txs off-chain.

4. Are people, wallets and other services forced to use Segwit?
People are not forced to use Segwit as it is a soft fork.

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#2367
  • What was a proposed alternative to Segwit?
    To increase the block size so more transaction could be handled allowing Bitcoin to scale.
  • What did Segwit solve more than just the scaling issue?
    SegWit solved a bug in Bitcoin called the transaction malleability.
  • How is Segwit and the Lightning network connected?
    SegWit was a fix necessary if second layers features, like Lighting, wanted to be added.
  • Are people, wallets and other services forced to use Segwit?
    No, SegWit is backward compatible with non-updated nodes. If SegWit were mandatory it could had caused a hard fork.
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#2368

1 encreasing The size of blocks

  1. By fixing the malleability problem

  2. Segwit supported The previous blocks by not change their size but by adding The segwit that contains info about signatures

  3. No they can choose

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#2369
  1. What was a proposed alternative to Segwit?
    Block size increase from 1MB to 2MB
  2. What did Segwit solve more than just the scaling issue?
    It solved the issue of malleability where a person could alter the transaction by changing the signature.
  3. How is Segwit and the Lightning network connected?
    It supports the protocol proposed by lightning network that increases the size limit by reducing the number of transactions by taking off the network smaller and frequent transactions @fillip one thing I couldn’t understand the part where user has to wait to get their transaction on network? I mean how does this happen practically?
  4. Are people, wallets and other services forced to use Segwit?
    No actually the Bitcoin cash continued in another fork where users can still be on old blockchain.
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