Segwit Reading Assignment

Blockchain and Bitcoin 101
#3012

1.) A proposed alternative to Segwit was the increase of block size, which lead to a hard fork called BTC Cash.

2.) Segwit solve the scaling issue and fix the bug of Transaction Malleability.

3.) By fixing the transaction malleability issue, the Update supports the development of second layer protocols such as the lightning network.

4.) Since Segwit is only a soft other block consensuses could persist.

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#3013
  1. It was proposed to increase the size of the blocks.
  2. Transaction malleability.
  3. Segwit made possible the develpment of the lightning network.
  4. No.
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#3014

  1. A proposed alternative to Segwit was an expansion of the blocksize from 1mB to 2mB. When blockchain made the soft fork to Segwit, a part of the Bitcoin community forked to Bitcoin Cash as an alternative that implemented this solution instead of Segwit.

  2. Arguably more important than the Scaling issue was the problem of Transaction Malleability. “This flaw allowed anyone to change small details that modified the transaction id (and the subsequent hash) but not the content.”

  3. The development of Segwit allowed for second layer (layer 2) protocols to be developed such as the lightning network which allows for even faster transactions to be made (and processed at a later time when the users are ready)

  4. No, as of December '21 approximately 40% of bitcoin wallets had incorporated the segwit protocol. More are expected to become segwit compatible in future.

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#3015
  1. A proposed alternative to Segwit was, raising the block size limit
  2. In addition to the scaling issue, Segwit solved the problem of txn malleability
  3. With the Segwit implementation ergo the malleability fix, 2nd layer protocols and more innovation was made possible. Things like, ‘smart contracts’ and off chain payment processing on the Lightning network were the result.
  4. People and wallets are not forced to use Segwit as it was a soft fork.
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#3016
  1. A proposed alternative to segwit was moving from 1mB/block to 2mB/block.
  2. Segwit solved as well the tx malleabilit.
    3.Making second layer solutions possible.
  3. No.
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#3017
  1. What was a proposed alternative to Segwit? - to increase the size of the block.
  2. What did Segwit solve more than just the scaling issue? - transaction malleability.
  3. How is Segwit and the Lightning network connected? - provides increased security which enables the build up of second layer protocols, such as lightning network.
  4. Are people, wallets and other services forced to use Segwit? - no, it’s a soft fork.
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#3018
  1. Increasing the block size.
  2. Segwit also solved the transaction malleability issue.
  3. The lightning network is a second layer protocol made possible by Segwit.
  4. Since it is a soft fork, they are not forced to use Segwit. This is why its implementation has been slow.
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#3019

  • What was a proposed alternative to Segwit?
    -> To increase the block size

  • What did Segwit solve more than just the scaling issue?
    -> To improve the ‘security’ of transactions (transaction malleability prevention)

  • How is Segwit and the Lightning network connected?
    -> Segwit supports the lightning network

  • Are people, wallets and other services forced to use Segwit?
    -> No, Segwit was a soft fork but more wallets and services are implementing Segwit support.

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#3020

  1. keep expanding block size which could lead to a hard fork

  2. it made transactions even more secure

  3. segwit made layer2 solution possible- the lightning network

  4. since its a soft fork, it solves itself with time according to protocol rules

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#3021
  1. What was a proposed alternative to Segwit?
    Bitcoin cash hardfork, (higher blocksize instead of separating signatures from transaction data)
  2. What did Segwit solve more than just the scaling issue?
    transaction mallability
  3. How is Segwit and the Lightning network connected?
    secon layer
  4. Are people, wallets and other services forced to use Segwit?
    no it’s a soft fork.
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#3022
  1. The proposed alternative was hard forking block size increase
  2. It solved TX Malleability, stability in maintaining transaction fees
  3. Segwit made second layer solutions possible which lightning network actually is.
  4. No, because the update was a soft fork.
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#3023

  1. What was a proposed alternative to Segwit?
    Increasing the block size which results in a hard fork

  2. What did Segwit solve more than just the scaling issue?
    It also solved a transaction malleability issue in which the script of signature can be altered to change the transaction ID which can be exploited to disguise a transaction has not been sent when in actuality, the transaction just changed in the form of the hash value.

  3. How is Segwit and the Lightning network connected?
    Segwit allows the implementation of 2nd layer protocol such as Lightning network.

  4. Are people, wallets and other services forced to use Segwit?
    No they are not because its not a hard fork but more wallets are implementing or attempting to implement Segwit in the long run

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#3024

What was a proposed alternative to Segwit? To increase the size of blocks
What did Segwit solve more than just the scaling issue?
SegWit fixed transaction malleability by removing the signature information (otherwise known as the “witness” information) and storing it outside the base transaction block.
How is Segwit and the Lightning network connected?
Second layer solutions - 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.
Are people, wallets and other services forced to use Segwit?
No, existing addresses and transaction formats can still be used (soft fork)

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#3025

1. What was a proposed alternative to Segwit?
Making the block size bigger as BCH did with a hard fork.

2. What did Segwit solve more than just the scaling issue?
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. It also enabled the development of more complex features such as second-layer protocols and smart contracts.

3. How is Segwit and the Lightning network connected?
Segwit makes second-layer protocols possible for the blockchain like 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?
Not really it was a soft fork, wallets and other services can run on an unupgraded node.

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#3026

  1. What was a proposed alternative to Segwit?
    increas the block size from 1mB to 2mB

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

  3. How is Segwit and the Lightning network connected?
    Segwit made second layer protocols possible, which the lightning network is created on.

  4. Are people, wallets and other services forced to use Segwit?
    No, they can still use the earlier protocol

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#3027
  1. What was a proposed alternative to Segwit?

An alternative was to simply double the block size from 1mb to 2mb, Resistance to SegWit was one of the factors behind the development of bitcoin cash, a fork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.

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

SegWit fixed the whole security of bitcoin,by solving transaction malleability, by removing the signature data from the transaction blockchain and storing it separately. This prevents any fraudulent alteration of the transaction ID of unconfirmed transactions.

  1. How is Segwit and the Lightning network connected?

The SegWit update facilitated the development of second layer protocols,such as the lightning network, it couldn’t be done before as there was the risk of transaction alterations at the unconfirmed stage, ie transaction malleability, the new structure means even more projects can be built onto the blockchain giving more scalability and scope of uses in the future.

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

People, wallets and other services are not forced to use Segwit because it is still compatible with the old protocol, segwit is actually known as an update or soft fork so old addresses and transactions can still be used as normal.

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#3028
  1. A proposed alternative to Segwit was simply increasing the block size.
  2. Along with solving the scaling issue, Segwit solved the issue of malleability. Malleability was possible through people changing the signature which would make it unrecognizable to the sender, yet the recipient would still be able to receive the BTC.
  3. SegWit supports the development of second layer protocols, such as the lightning network.
  4. No, Segwit is still slowly being adopted.
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#3029
  1. increase block size eg btc cash chase to address the tx size by increasing block size or “weight”
  2. Malleability
  3. SegWit supports 2nd layer protocols that are built on top
  4. no not yet
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#3030

A block size increase and hard fork to Bitcoin Cash

It also solved a transaction malleability problem.

Segwit allowed integration with the Lightning network.

No, wallets can adopt whenever they want.

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#3031

  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 supports the development of second layer protocols. 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 but more of them are implementing or willing to implement Segwit in the long run

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