Segwit Reading Assignment

Blockchain and Bitcoin 101
#2610
  1. What was a proposed alternative to segwit?
    To increase the block size to 2 mB
  2. What did segwit solve more than just scaling issue?
    The malleability which means the receiver of the transaction can`t change the transaction ID and trick the sender to resend the transaction.
  3. How is segwit and the lightning network connected?
    Segwit increasing the transaction capacity by taking the signatures off-chain and Lightning network also increases the capacity by taking off-chain the frequent and small transactions until the users are ready.
  4. Are people, wallets and other services forced to use segwit?
    No but they will have to pay more on fees or wait longer.
1 Like
#2611
  1. What was a proposed alternative to Segwit?
  • to increase the block size
  1. What did Segwit solve more than just the scaling issue?
  • when signatures are excluded from the block, the txID cannot be changed
  1. How is Segwit and the Lightning network connected?
  • Segwit makes unconfirmed transactions less risky and this enables second layer protocols such as Lightning Network
  1. Are people, wallets and other services forced to use Segwit?
  • freedom of speech, they are not forced
1 Like
#2612

Homework on SegWit

  1. What was a proposed alternative to Segwit?
    Alternative to SegWit was proposed to increase the blocks size.

  2. What did Segwit solve more than just the scaling issue?
    SegWit was initially proposed to solve the malleability transactions issue, that is when you can change the transaction ID without changing the transactions contents.

  3. How is Segwit and the Lightning network connected?
    Thanks to SegWit there are less problems with unconfirmed transactions and malicious usage of the malleability issue, this lead the possibility to build and develop more reliable second layer protocols that automate some operations such as smart contracts.

  4. Are people, wallets and other services forced to use Segwit?
    Wallets that does not implement SegWit can continue to work without problems, in fact SegWit did not lead to a fork.

1 Like
#2613

  1. What was a proposed alternative to Segwit?
    Increasing the block size by way of a hard-fork.

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

  3. How is Segwit and the Lightning network connected?
    They are connected on two layer solution on top of the existing Bitcoin network.

  4. Are people, wallets and other services forced to use Segwit?
    No. Some wallets have added SegWit support but others have not. This is due to the rollout of the upgrade being slow. The old protocol is still able to be used.

1 Like
#2614

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

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

  3. How is Segwit and the Lightning network connected?
    Segwit helped lightning network make a layer 2 solution for Bitcoin transactions.

  4. Are people, wallets and other services forced to use Segwit?
    No, but there are advantages to using Segwit.

1 Like
#2615 
1. What was a proposed alternative to Segwit?
	○ It was proposed to Change  the block size from 1MB to 2MB
2. What did Segwit solve more than just the scaling issue?
	○ By removing sig out of txn data structure, you cannot change the TXN ID any more! - solving TXN Maleability
3. How is Segwit and the Lightning network connected?
	○ SegWit supports the development of second layer protocols, such as the lightning network. 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. It is a soft fork..
1 Like
#2616
  1. making the max transaction size 2 mB.
  2. Segwit also solved transaction malleability issue and allowed more development of second layer protocols.
  3. Segwit allows micro-transactions to be settled off network initially.
  4. They are not forced to use Segwit, but economically, it makes sense.
1 Like
#2617

  1. A proposed alternative to segwit was increasing block sizes to 2mB.

  2. Segwit killed two birds with one stone since it solved scaling AND transaction malleability.

  3. Segwit made it possible to run second layer protocols in the network. Lightning is one of those protocols.

  4. No, nothing was forced upon others. Segwit was a soft fork so anything using the old protocols would still be able to function on the network.

2 Likes
#2618

  1. The alternate solution to Segwit was to raise the block size from 1 MB to 2 MB.

  2. Segwit solved transaction malleability where people were being scammed from others through changes in the signatures.

  3. The Lightning network uses Segwit to support second layer chains to up transaction speeds on the main blockchain.

  4. No one is forced to use Segwit rather it makes more sense to use it since a lot of the community has already transferred into their protocols.

1 Like
#2619

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

  2. What did Segwit solve more than just the scaling issue?
    Segwit was compatible with the previous protocol so it reduced need for a hard fork.
    It also solved transaction malleability issues.

  3. How is Segwit and the Lightning network connected?
    Lightening uses a protocol that takes smaller, frequent transactions off the chain, and only completing a Bitcoin block when users are ready. It also introduces a malleability fix that increased security.

  4. Are people, wallets and other services forced to use Segwit?
    Not presently, but over time, consensus will require it.

1 Like
#2620

1: raising the block size to 2MB

2: It removed the tx malleability risk that was present

3: Fixing the tx malleability risk enabled second layer protocols like lightning to hold less risk in dealing with unconfirmed tx’s

4: No, the rules contracted and are within the previously defined set making it optional upgrade and therefore a soft fork

1 Like
#2621
  1. Increasing blocksize
  2. It stopped malleability
  3. Lightning was made possible by Segwit, by solving the malleability issue, making unconfirmed transactions less risky.
  4. No
1 Like
#2622
  1. What was a proposed alternative to Segwit? Increasing the Blocksize
  2. What did Segwit solve, more than just a scaling issue? Segwit solved the transaction malleability problem as well as increasing the number of transactions that can be put into each block by removing the signature identification data.
  3. How are Segwit and the Lightning Network Connected? WIth the implementation of Segwit, 2nd layer solutions such as the Lightning Network can be created. The Lightning Network allows for processing of many transactions that can be settled later on the blockchain.
  4. Are people, wallets and other services forced to use Segwit? Segwit is a soft fork and therefore is expansive addition. This means that people can choose whether or not to update their systems. However once the update has happened over a majority of the nodes that rule will take precedent.
1 Like
#2623
  1. What was a proposed alternative to Segwit?

A proposed alternative to Segwit was simply increasing the valid block size.

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

Segwit also solved the transaction malleability problem, which was in issue that made it possible to alter the ID of a transaction that somebody had already sent, making it impossible for them to find and making various complex features more difficult to develop on the bitcoin blockchain.

  1. How is Segwit and the Lightning network connected?

Segwit fixed the malleability issue, which made features that rely on unconfirmed transactions less risky and easier to design. The lightning network is one such feature. It takes frequent, small transactions off-chain, only settling on the bitcoin blockchain when the users are ready. This helps to lower congestion on the blockchain.

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

No, it is a soft fork, meaning it is compatible with the previous rules.

1 Like
#2624
  1. What was a proposed alternative to Segwit?

Increase the block size like Roger Verr did.

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

More than just the scaling issue, it solved the malleability on the unconfirmed tx’s problems.

  1. How is Segwit and the Lightning network connected?

They are connected because they are both built on the extension of the 1MB original block, which means they ahve 3 more mbs to build on this 2nd layer solution.

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

No, but slowly they will and over time eventually be adopted since it was a soft fork update.

1 Like
#2625

Segwit is an on chain solution that made second layer solutions like the Lightning network safer and easier to design. Lightning takes tx off chain and has potential to handle millions of tx per second and only settling one tx on chain once the users close their channels. :slight_smile:

2 Likes
#2626

Thanks for the clarification alko!

1 Like
#2627
  1. What was a proposed alternative to Segwit? Increase block size
  2. What did Segwit solve more than just the scaling issue? Stopped transaction malleability
  3. How is Segwit and the Lightning network connected? Segwit is the foundation for Lightning network
  4. Are people, wallets and other services forced to use Segwit? No
1 Like
#2628
  1. The proposed alternative to segwit was to make the block size bigger.
  2. Segwit also solved the transaction malleability issue.
  3. Segwit set up a second layer protocol for the lightning network.
  4. No, it was a soft fork. Some still had the old protocol
1 Like
#2629
  1. What was a proposed alternative to Segwit?

To increase the block size.

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

The transaction malleability bug, which could be used to exploit the network and blocked further adoption of 2nd layer solutions.

  1. How is Segwit and the Lightning network connected?

Segwit, by resolving the issue of tx malleability, allowed for development of 2nd layer protocols such as Lightning network.

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