Segwit Reading Assignment

Blockchain and Bitcoin 101
#2690

What do you mean by that? Old addresses and txs work just fine after Segwit. :slight_smile:

#2691
  1. To increase the size of the blocks.
  2. it got more secure by also solving the malicious problem with the change of the trx id.
  3. Lightning Network increases the speed of transactions.
    4)I think that with the time everybody implement it because it is the only way to go on. The people that didnt go on with it used the hard fork to go on with Btc Cash.
1 Like
#2692

  1. The proposed alt to segwit was just to increase the block sixe but that would have negatively affect the amount of cpu processing to transfer and receive files and made minors pay for more hardware ect.

  2. Segwit also silved transaction id. Flaw and introduced the concept of block weight

  3. The lightning network is a layer 2 solution that acts as somewhat of a broker which can hold smaller groups of transactions until they are ready to be sent to the mempool. Im actually not sure how this happens or how affective it is bit somehow rippleXRP is the fastest

  4. Segwit is backwards compatible so it allows nodes that dont run it to still be a part of the chain but i dont see why anyone would unless the block weight is the issue,m

1 Like
#2693
  1. To upgrade the Blocksize limit as appose to add a new transaction structure.

2.It supports a 2nd layer of protocols and boosted development work on other features.

  1. Lighting network removes transaction of the chain and only settling when the users are ready
    because of it being built on Segwit.

4.No, they do not have to implement the Segwit upgrade.

1 Like
#2694
  1. The proposed alternative to Segwit was increasing the block size from 1 mB to 2mB.
  2. It partially solves the scaling issue for the time being. It also solved transaction malleability by removing the digital signature from the block so the transaction ID can not be changed.
  3. I am not sure how Segwit and lightening are connected. Would appreciate clarification.
  4. The people who hard forked to BCH are not forced to use Segwit but that is not BTC anymore. I guess anyone who has not upgraded to Segwit is not forced to use it but am I correct in thinking that if the miners don’t use it, they will not be able to compete with others who do use it to add their block because the majority work with Segwit?
1 Like
#2695

1 Alternative was to increase the block size limit
2 It solved the malleability issue and enabled layer 2 solutions to be build like ie lightning network
3 Segwit made lightning network possible to build
4 It’s not forced can use still old wallets

1 Like
#2696

What I should’ve said instead is “old transactions and addresses are adapted by default and not forced.”

#2697

  1. What was a proposed alternative to Segwit?
    Increasing the block size limit. The Bitcoin cash hard fork originated from that idea.

  2. What did Segwit solve more than just the scaling issue?
    Transaction malleability, which prevented Bitcoin from stepping any further like integrating smart contracts.

  3. How is Segwit and the Lightning network connected?
    The lighting network also helps to effectivly use the 1mB block capacity by taking small transactions off-chain like SegWit does with the signature.

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

1 Like
#2698

  1. What was a proposed alternative to Segwit?
    Scaling solution meant to solve Bitcoin’s blockchain size limitations by allowing more transactions to be added in each block thereby increasing Bitcoin transaction speeds.

  2. What did Segwit solve more than just the scaling
    issue?
    Segwit fixed the TX malleability by removing the signature info

  3. How is Segwit and the Lightning network connected?
    SegWit supports the development of second layer protocols, such as the lightning network.

  4. Are people, wallets and other services forced to use Segwit?
    No because it’s a soft fork, the wallets are still valid all the TX will be processed on the same blockchain.

1 Like
#2699

1. What was a proposed alternative to Segwit?
To just increase the blocksize.

2. What did Segwit solve more than just the scaling issue?
It also solved the issue of malleability (people being able to change the details of the transaction ID) and made allowed for development is more complex smart contracts, transactions capacity boosts and anonymous top-layer networks. “The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.”

3. How is Segwit and the Lightning network connected?
The lightening network is a second layer protocol. It ?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. And some believe it is a temporary fix. However “As more wallets embrace the upgrade, the percentage of transactions that use the SegWit structure will increase, and bitcoin fees should drop as blocks contain a greater number of transactions. Furthermore, the development of lightning and similar second layer protocols should get more of a boost, enhancing bitcoin’s scope and potential. This is unlikely to happen overnight – but the change is an important one, and represents a big step forward.”

1 Like
#2700

1.What was a proposed alternative to Segwit?

Upgrading block storage.

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

It solve Tx maleability , lower fees, second layer solution and smart contracts.

3.How is Segwit and the Lightning network connected?

Without Segwit there wouldn’t be the Lightning network.

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

No it’s a soft fork.

1 Like
#2701

  1. What was a proposed alternative to Segwit?
    A proposed alternative to the Segwit solution was increasing the BTC blocksize to 2 MB, which eventually became the Bitcoin Cash hardfork.

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

  3. How is Segwit and the Lightning network connected?
    Segwit was necessary to enable the Lightning Network and other 2nd layers solutions.

  4. Are people, wallets and other services forced to use Segwit?
    No, because Segwit is a softfork and backwards compatible, which gives the option for users to still use the non-segwit wallet/nodes.

1 Like
#2702

  1. What was a proposed alternative to Segwit?
    Increase the blocksize limit to more than 1 mB

  2. What did Segwit solve more than just the scaling issue?
    Stop TX malleability. The TX was no longer susceptible to it being altered because of the signature being changed. It is now separate from the hash.

  3. How is Segwit and the Lightning network connected?
    Segwit enables support of second layer solutions like the lightning network to take smaller transactions off-chain and settling on the blockchain when the users are ready.

  4. Are people, wallets and other services forced to use Segwit?
    No but some are upgrading slowly to enable the use of Segwit.

1 Like
#2703

Lightning network relies on unconfirmed txs therefore if the tx malleability would not be solved it would make Lightning network less secure or harder to implement.

Outdated miners can still produce blocks because the change was in the tx structure not the block itself. New txs are valid on old nodes but they would be unable to spend it. :slight_smile:

#2704

They aren’t really adapted either. Old transactions are still valid and work even with Segwit enabled. No change is required if you want to make old style txs on Bitcoin its fine.
Maybe you’re right and I just interpret your answers wrong :stuck_out_tongue:

1 Like
#2705

I am happy you corrected me because I think it’s very powerful to be wrong and learn from it then hold false misconceptions. :slight_smile:

#2706
  • What was a proposed alternative to Segwit?

Increasing the block size.

  • What did Segwit solve more than just the scaling issue?

It stopped transaction malleability.

  • How is Segwit and the Lightning network connected?

Segwit allows lightning network to happen.

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

No

1 Like
#2707

  1. The proposed alternative to Segwit was to increase the block size from 1mb to 2mb or larger.

  2. Segwit solved the issue of transaction malleability, which allowed for greater number of tx’s.

  3. Segwit assisted with development of second layer protocols eg. Lightening network.

  4. No one is forced to use Segwit, it is optional. Old transactions could still be used.

1 Like
#2708
  1. What was a proposed alternative to Segwit?
    INcreasing the block size to 2mB (aka Bitcoin Cash)
  2. What did Segwit solve more than just the scaling issue?
    It fixest transaction malleability. Taking the witness data out of the block prevents people from altering the wallet sig/tx hash.
  3. How is Segwit and the Lightning network connected?
    Lightning network needed a fix for tx malleability before it oculd wrk. Segwit provides this.
  4. Are people, wallets and other services forced to use Segwit?
    No
1 Like
#2709
  1. hard fork to increase the block size
  2. tx malleability
  3. SegWit allows the development of second layer protocols. One of the protocols that has emerged is Lightning Network, which is able to take small and frequent transactions off-chain and only settling them on Bitcoin Blockchain when users are ready to do so. Also, as Lightning network is based on unconfirmed tx, tx malleability was an issue in implementing this protocol before SegWit.
  4. no
1 Like