Segwit Reading Assignment

Blockchain and Bitcoin 101
#2932

1- Increasing the block size, which would have caused a hard fork.
2- It fixed a bug called malleability, that allowed changes on the TX ID.
3- The lightning network is a second layer protocol on top of the original possible thanks to SegWit integration.
4- No, old transactions still can be used, because it is a soft fork , but wallets are adding SegWit support anyway.

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#2933

1 They wanted to raise the size of the block from 1 mb to 2mb

2 Making the transaction more flexible and improving the overall speed.

3 SegWit and the Lightning Network are terms that describe proposed changes to Bitcoin’s Blockchain to allow faster transactions. They seeks to solve the blockchain size limitation by allowing participants to transfer money to each other without having to make all their transactions public on the blockchain.

4 Segwit is a soft fork and it’s up to the people to embrace it or not and the lightning network is neither a hard fork or a soft fork but “an additional layer” it is independent of consensus. Short answer, nobody is forced to use Segwit.

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#2934

  1. And alternative solution was to increase block size limit from 1mB to 2mB. A part of the community viewed increasing the block size as a better solution for bitcoin’s scalability problems. Adopting bigger block size led to a fork in a bitcoin chain and a new coin called bitcoin cash.

  2. Segwit also solved the transaction malleability problem where the sender was able to alter the transaction id (hash) by changing signature data. Segwit’s solution is to remove the signatures from transaction data and allow them to be stored elsewhere.

  3. Segwit enabled second layer protocols, such as lightning network, to be built on bitcoin chain by fixing the vulnerability of altering transaction id with a change in signature data.

  4. No. You can also use Bitcoin Legacy, a version of bitcoin without Segwit implemented.

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#2935
  1. A proposed alternative to Segwit was to increase the block size. Which BitcoinCash did.
  2. By removing the signature from the transaction block, it also solve the transaction malleability problem.
  3. Segwit allowed layer 2 protocols to be implemented. Which is the lightning network.
  4. They are not necessarily force but it is to their benefit if they allow Segwit. So users of BTC can continue to use their wallet.
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#2936
  1. Increasing block size
  2. It solves transaction malleability bug by removing signature from transaction
  3. After segwit release lightning network becomes more reliable because it uses unconfirmed transactions which are more safer now.
  4. Soft fork was supported by majority so know if you want to play into bitcoin you have to follow new ruleset
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#2937

You can still create old transactions on Bitcoin so you can play by the old rules if you want. :slight_smile:

#2938

  1. What was a proposed alternative to Segwit?
    To increase the block size limit.

  2. What did Segwit solve more than just the scaling issue?
    It removed a component of the block that allowed one person to change the blockID singlehandedly by resigning the transaction.

  3. How is Segwit and the Lightning network connected?
    Segwit implementation removed the malleability of the blockID which in turn made possible the implementation of additional layers of protocol.

  4. Are people, wallets and other services forced to use Segwit?
    No, the implementation is by choice but those who do not would not be able to take advantage of the new features including the lightning network.

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#2939
  1. What was a proposed alternative to Segwit?
    A. Increase of block size.
  2. What did Segwit solve more than just the scaling issue?
    A. Malleability issues.
  3. How is Segwit and the Lightning network connected?
    A. Segwit makes layer 2 solutions possible. Lightening network is layer two and looks to build on increasing tx per second.
  4. Are people, wallets and other services forced to use Segwit?
    A. No, legacy addresses can remain as such.
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#2940
  1. Increased block size to 2MB.
  2. It solved the problem of txn malleability.
  3. Lightning is a layer two solution that allows smaller transactions outside the Bitcoin main network that settle on the network at a later time when convenient.
  4. No
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#2941
  1. What was a proposed alternative to Segwit?
  • A proposed alternative to Segwit was increasing the block size. This is a problem because it allows for tx malleability and the connection time and fees would increase which was the reasoning for the proposed alternatives in the first place.
  1. What did Segwit solve more than just the scaling issue?
  • It solved the problem of Transaction Malleability
  1. How is Segwit and the Lightning network connected?
  • Segwit was the creation of second layer networks which allowed for lightning network to build on.
  1. Are people, wallets and other services forced to use Segwit?
  • No it is not forced as Segwit is a soft fork that is offered as a solution these concerns.
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#2942
  1. Increase the 1MB block size.
  2. it prevents malleability
  3. Segwit made 2nd Layer protocols sush as lightning protocol possible.
  4. No, they where later updated.
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#2943
  1. Increasing the block size.
  2. Segwit solved the signature malleability problem by taking the signatures outside the block. This way the Transaction ID is not changed when the signature changes. When the signatures were taken outside the block this created more room for transactions inside the block.
    3.Segwit allows more small transactions to be taken outside the block with LIghtning network and only settling the blockchain when users are ready.
    4.As all wallets move to implementing segwit this would seem to be to the case.
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#2944
  1. What was a proposed alternative to Segwit?

To increase the block size limit to 2MB

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

It also solved the problem of transaction malleability

  1. How is Segwit and the Lightning network connected?

The lightning network is a second layer protocol supported by Segwit

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

No; that’s what resulted in the bitcoin cash fork for example, as part of the community or network chose the route to increase the size of the block rather than implement th Segwit protocol

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#2945

  1. A proposed alternative to Segwit was to increase the block size.

  2. Other than the scaling issue, Segwit solved the problem of transaction malleability.

  3. The lightning network relies on unconfirmed transactions. Segwit makes this possible when there is no transaction malleability. Therefore, Segwit supports second layer protocols.

  4. People, wallets and other services are not forced to use Segwit because it is a soft fork. unimplemented wallets can still be used.

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#2946
  1. What was a proposed alternative to Segwit?

A hard fork solution to increase block size to 2MB (Bitchoin Cash)

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

Also helped solve the malleability issue with altered signatures.

  1. How is Segwit and the Lightning network connected?

Lightning network is a second layer network relying on unconfirmed txs.

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

No, not forced to use Segwit.

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#2947

  1. What was a proposed alternative to Segwit?
    A hard fork in which the block size would be increased from 1 MB. However, the concern with this is that it would only delay the inevitable need to yet again increase the block size in the future (not really solving the immediate problem within the block structure). Increased block size is less feasible because not only does it require more processing power, but it would also result in longer delays in propagation of the chain throughout nodes. Increased forks and stale/orphaned blocks would also be a byproduct of this approach.

  2. What did Segwit solve more than just the scaling issue?
    Segwit removed the digital signature from within the transaction and stored it outside of the actual blocks in a different digital compartment. This significantly reduced the size/weight of the blocks. This also removed the ability for someone to hack the digital signature within the transaction, as this was sometimes done with the prospect of receiving additional funds from a sender due to loss of previous Tx confirmation. In other words, the transaction malleability was decreased, thereby increasing the security of the individual transactions within the blocks.

  3. How is Segwit and the Lightning network connected?
    Segwit tx malleability fix laid the foundations for second layer protocols to be established on the Bitcoin blockchain.

  4. Are people, wallets and other services forced to use Segwit?
    No, Segwit is a soft fork and its adoption has been fairly gradual. Therefore, nodes and wallets can still function without the update within the network (although are more limited).

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#2948
  1. Increase block size to 2mB.
  2. TX ID Malleability by removing signature from tx to drive down the size of tx.
  3. Segwit allows a 2nd layer solution, byproduct of fixing tx malleability. As a result, lightening network was connected.
  4. No segwit was a soft fork hence protocol was not forced upon an entity.
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#2949

  1. Increased storage capacity per block

  2. It solved the security issue of Tx malleability by taking the signature data out of the Tx data structure.

  3. Segwit made it less risky and easier to design second layer protocols that rely on unconfirmed Tx, like the lightning network. Lighting boosts BTC capacity by taking small Tx off-chain and settling on the BTC chain when users are ready.

  4. No. For instance, BTC Cash is a fork on the BTC chain that chose to implement larger blocksize limit. Not sure what kind of implementation % Segwit has present day…

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#2950 
1. What was a proposed alternative to Segwit?  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. 
2. What did Segwit solve more than just the scaling issue?  Without the signature information, the transactions weigh much less. This means that more can fit in a block, and can process a greater throughput without changing the block size. 
3. How is Segwit and the Lightning network connected? SegWit supports the development of second layer protocols, such as the lightning network. 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....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.  SegWit was one of the factors behind the development of bitcoin cash, a hardfork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.
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#2951

1.A hard fork called bitcoin cash.
2.It solved the bug in the bitcoin code called transaction malleability.
3.It is a second layer protocol that takes small chain transactions off chain, speeding up the transaction process, and eventually settling them on BTC blockchain when the user is ready.
4.No, it was a soft fork but it’s adoption is steadily taking place.

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