Segwit Reading Assignment

[JessicaBW]

1 making the blocks bigger
2 transaction malleability and lower fees
3 segwit made lighting network possible
4 no

[Mark_Dalton]

1. What was a proposed alternative to Segwit?
   • Just increase the block size limit for the problem of Full blocks

2. What did Segwit solve more than just the scaling issue?
      * Transaction Malleability
      * Enabling 2nd Layer protocols like Lightning network
      * Enabling progress on smart contracts

3. How is Segwit and the Lightning network connected?
      * Lightning network needed to use the second layer protocols.
      * The malleability fix made any feature that relied on unconfirmed TX's less risky
        and easier to design.
 
 4. Are people, wallets and other services forced to use Segwit?
      * No, it was a soft fork 
      * And it worked while wallets slowly updated
      * And once more wallets embraced the upgrade the fees could drop. (since more transactons per block)
      
     -- Interestingly (to me) ledger Live has a native segwit or segwit wallet options for BTC.

[Alko89]

@Mark_Dalton

-- Interestingly (to me) ledger Live has a native segwit or segwit wallet options for BTC.

Native segwit is the updated version that uses bech32 addresses. Its a bit optimized and the tx are smaller so there is even less fee for the user.

[barney]

Answers to Reading Assignment Questions.

1. What was a proposed alternative to Segwit?
   Increase the Block Size limit with Hard Fork, like Bitcoin Cash.
   
   
2. What did Segwit solve more than just the scaling issue?
   • It supports the development of second layer protocols, such as the lightning network.
   • Malleability fix
     
     
3. How is Segwit and the Lightning network connected?
   The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.
   Boost development work on other features such as:
   • MAST
   • Schnorr signatures, and
   • TumbleBit
     
     
4. Are people, wallets and other services forced to use Segwit?
   No, it is a Soft Fork, a friendly adjustments, that allows people, wallets and other services to embrace the upgrade over a time.
   
   

[ZigaP]

@filip

It’s time for a reading assignment about Segwit. Read through the following article https://www.coindesk.com/information/what-is-segwit, and answer the following questions.

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?

1. Alternative to SegWit was increase of block size. The opposers to SegWit said that this is only a temporary solution and instead proposed to increase the size of the blocks (and they say SegWit is a temporary solution), which led to the creation of Bitcoin Cash back in 2017.

2. Since tx signatures were now stored outside of the transaction, meaning the hash of the txs were now independent of the signatures, it removed the issue of malleability and provided the option to build smart contracts on top of the blockchain.

3. SegWit supports the development of second-layer solutions such as the lightning network.

4. No.

[wleskay]

1. Increase the TX block size

2. Solve the transaction malleability problem in which someone could slight adjust the signature and change the entire hash of the transaction.

3. The lightning network takes smaller transactions off chain and settles them on chain

4. No, soft fork allows old nodes to continue to participate on the network.

[ArubianCryptoLady]

1. What was a proposed alternative to Segwit?
Increase the block size limit for the problem Full Blocks

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

• supports the development of 2nd layer protocol > Lightning NetworkDe
• development work on Smart Contracts

3. How is Segwit and the Lightning network connected?
It needs to use the 2nd layer protocol

4. Are people, wallets and other services forced to use Segwit?
No

[floydsantimano]

1. To increase the block size (hard fork)
2. Segwit also solved transaction malleability along with the scaling issue.
3. Segwit supports the second layer solution(which is Lightening network)
4. No

[jtb]

1. Increase block size from 1MB to 2MB.
2. Solves the issue of transaction malleability.
3. Lightning network is the second layer protocol which builds on segwit.
4. No. Is a soft fork and is compatible with old protocol.

[CryptoWolf]

1. A larger block size limit.
2. SegWit fixed transaction malleability by removing the signature information (otherwise known as the “witness” information) and storing it outside the base transaction block. With that, signatures and scripts can be changed without affecting the transaction id.
   3.Lighting Network takes small TXs off-chain, only settling on the BTC blockchain when the users are ready.
3. No, because it was a soft fork so old rule sets still works. But wallets are slowly adding SegWit.

[88LFNaveda]

1. What was a proposed alternative to SegWit?

The proposed alternative to SegWit was to increase the block size limit of 1MB to a greater capacity and let the miners decide

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

Besides favoring the development of second layer solutions meant to solve the transaction volume issue with Bitcoin, SegWit also favors the development of other features such as MAST, Schnorr Signatures and TumbleBit.

3. How is SegWit and the Lightning network connected?

By solving the transaction malleability bug, SegWit enables the appropriate circumstances for the lightning network to work less risky and more efficiently.

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

Taking into account the nature of the update (soft fork) no one is required to update in order to achieve consensus.

[shahid_amin]

• What was a proposed alternative to Segwit?
• What did Segwit solve more than just the scaling issue?
• How is Segwit and the Lightning network connected?
• Are people, wallets and other services forced to use Segwit?

1. The alternative proposal to segwit was an increase I block size.

2. Segwit helped to solve issues around transaction malleability enhancing network security.

3. Segwit supports the second layer solution making them possible and thus enables lightening network.

4. Nobody is forced to use segwit. Segwit is a soft fork, some of the older nodes on the network do not implement it.

[Kroepoek058]

Thanks for the correction

[Crypto85]

1. The proposed alternative to Segwit was to increase the block size. This created a fork called Bitcoin cash.

2. Segwit solved the issue of transaction malleability as well as the scaling issue by removing the signature from the transaction information.

3. Segwit supports the development of second layer protocols lightning network which has given a boost to bitcoins transaction capacity by taking transaction off-chain

4. No as it is a softfork but most are using Segwit now.

[REZ]

1. What was a proposed alternative to Segwit?
a. The increase of block size, which leaded to a hardfork: Bitcoin Cash

2. What did Segwit solve more than just the scaling issue?
a. It also solved the transaction malleability.

3. How is Segwit and the lightning network connected?
a. They are connected through the possibility of second layer protocols, which the lightning
network was built on.

4. Are people, wallets and other services forced to use Segwit?
a. Not yet, old transactions and addresses are still available. However it does depend on the
adaptability percentage throughout the network.

[Valery]

1. Implementation of a larger block size limit
   2.It solved the issue with transaction malleability
   3.SegWit supports the development of second layer protocols
   4.No

[Ivan_Vucinovic]

1. What was a proposed alternative to Segwit?
   Increase of the block size from 1MB to 2 MB
2. What did Segwit solve more than just the scaling issue?
   Malleability
3. How is Segwit and the Lightning network connected?
   Segwit is why Lighttning exsists as lightning will be able to take smaller txs offchain
4. Are people, wallets and other services forced to use Segwit?
   No but they are developing it

[Bozidar]

1. What was a proposed alternative to Segwit?
   Increasing size of blocks to 2MB
2. What did Segwit solve more than just the scaling issue?
   It also resolved transaction id malleability
3. How is Segwit and the Lightning network connected?
   Segwit solved tx malleability problem and made it easier to create second layer protocols
4. Are people, wallets and other services forced to use Segwit?
   No, some nodes still keep all data together

[Luca_C]

1. What was a proposed alternative to Segwit?

To increase the block size to 2MB

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

Segwit solved the malleability issue since the signature is not hashed anymore in the transaction.

3. How is Segwit and the Lightning network connected?

With segwit unconfirmed transactions are less risky, so this allowed to work offchain with smaller transcations.

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

no, being a soft fork all of the transactions and the data structure is accepted also without the upgrade,

[Aura]

1. To increase block size.
2. Transaction malleabillity.
3. SegWit supports second layer protocols.
4. No.