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?
Answers :
1/ The Alternative to Segwit proposed was to increased Block size.
2/ Segwit solve the issue of Signature into the transaction ID TX Malleability and help to get lower fees along with supporting the Lightning network (Layer 2 Solution).
3/ Segwit makes Second Layer Solution possible.
4/ NO Segwit does not force peoples or wallet to use Segwit, Old transactions can still be used
It’s view as a Softfork in the bitcoin Blockchain.
1.Increase block size
2-Transaction malleability & allows more transactions per block
3-Segwit allows better chance of developing layer two solutions, MAST Schnorr abnd TumbleBit
4-No it is a soft fork
What was a proposed alternative to Segwit?
To increase the block size limit which would result in a hardfork which resulted in Bitcoin Cash.
What did Segwit solve more than just the scaling issue?
Segwit solved transaction malleability. This was achieved by removing the signature information (the “witness” information) and storing it outside the base transaction block. Thus, signatures can be altered without affecting the transaction ID.
How is Segwit and the Lightning network connected?
Segwit supports the development of second layer protocols i.e. the lightning network. The lightning network further boosts transaction capacity and efficiency by taking frequent, smaller transactions off-chain.
Are people, wallets and other services forced to use Segwit?
No, this will gradually be implemented over time.
Lightning network works on top of a blockchain based cryptocurrency Egg Bitcoin. Segwit was a softfork taking the signature and placing it into a witness segment away from the transaction block.
1)Increase in block size
2)It also solves transaction malleability
3)Segwit supports the development of second layer protocols on which lightening network is based
4)No it is a soft fork that means wallet and other services can be used with old protocol
increase of the maximum size of each block - resolved in reation of Bitcoin Cash
What did Segwit solve more than just the scaling issue?
also malleavility where it was possible to change the hash by changing Witness
How is Segwit and the Lightning network connected?
through second layer protocol, it was enabled through the malleability fix which made any feature that relied on unconfirmed transactions less risky and easier to design
Are people, wallets and other services forced to use Segwit?
Because its a soft fork they can decide, coming out as democratic exception in this case
1: A proposed alternative to Segwit was to increase the block size.
2: Segwit also solved the issue of transaction malleability where someone could change the transaction id which would change the hash but leave the content as it is.
This meant that if a bitcoin transaction hadn’t been verified on the block chain the receiver could change the transaction ID and try to trick the bitcoin sender into sending more bitcoin by saying they hadn’t received any bitcoin from the sender. The sender would try to look up the transaction ID that they’d created but be unable to find it on the block chain because the transaction ID had been changed. Someone unfamiliar with how bitcoin works could be duped into sending more bitcoin to the receiver.
3: Segwit and Lightening network are connected because the Lightening network relies on confirming bitcion transactions at a later time or date so without Segwit transactions on the lightening network would be open to transaction malleabillity.
4: People wallets and other services aren’t forced to use Segwit. Segwit was a soft fork so Miners and nodes will still recognise transactions created without Segwit.
Proposed alternative to Segwit was increasing of block size from 1 MB on 2MB which would couse the hard fork and would be short term solution because of rapid growing transaction amount due to adoption.
Segwit solved malleabiltiy of transactions because now the signature is separate and outside of the transaction and by changing signature TX ID doesn´t change.
Lightning network is the second layer protocol build on segwit. Both together can make more transactions.
No because it was soft fork and wallets are adding segwit feature.
The proposed alternative was increasing the block size (block weight).
It also solved the issue with transaction malleability to name one.
By able to support developmental protocols and boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain, only settling on the bitcoin blockchain when the users are ready.
No but new adoption to new upgrades do occur moving forward.
The proposed alternative to segwit was to implement a larger block size limit rather than rely on a new transaction structure. This started the development of bitcoin cash.
2.Segwit solved more than just the scaling issue it also solved malleability, that allowed anyone to change small details that modified the TX ID.
Segwit and the lightning network are connected through second layer protocol. Built off segwit to further boost bitcoins transactions capacity by taking frequent, small TX off-chain only settling on the bitcoin blockchain when users are ready.
People, wallets and other services are not forced to use segwit it is a suggested soft fork update that is slowly being implemented across the network, to date we are at 40% implemented. The segwit update is important to maintaining lower fees and faster transaction speeds as the network grows.
