Segwit Reading Assignment

Blockchain and Bitcoin 101
#3133

  1. What was a proposed alternative to Segwit?
    Escalation of block size from 1mB to 2mB.

  2. What did Segwit solve more than just the scaling issue?
    Segwit also solved the TX - Transaction Malleability Issue (which had the potential of a transaction ID to be modified after the TX / transaction was created. It shut down the potential for fraud and theft.

  3. How is Segwit and the Lightning network connected?
    The lightening Network is a secondary layer application that takes small / frequent BTC transactions off chain until both users are ready to have it “settle” on the blockchain.

  4. Are people, wallets and other services forced to use Segwit?
    No, it was designed as a “Soft Fork Update”. It is an option within the network and only requires 50+% majority within the node acceptance structure. Further old data, transactions and addresses can still be utilized within the Soft Fork framework.

rjr
2021-03-08T05:00:00Z

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#3134
  1. A block size increase or Hard Fork
  2. It solved the malleability issue and helped lower transaction fees
  3. SEGWIT allowed for the implementation of a layer-2 protocol like the lightning network because now that signatures are no longer a part of the TX input, the smaller valued high-volume TXs could be confirmed directly off-chain. In other words, Alice and Bob can commit to sending BTC to one another now that Alice knows that if Bob messes with the signature script it won’t affect the hash of the TX. These TXs are confirmed off-chain and later broadcasted to the chain when Alice and Bob are ready (i.e., completed their TX situation efficiently and there are no more TXs between them until a later date)
    4)No, it was a soft fork update. More and more wallets are adding SEGWIT support to not be left behind since increasingly more users are using wallets that allow this feature.
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#3135

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

  2. Segwith solved Transaction Malleability by removing the signature and storing it outside the base transaction block.

  3. The Lightning Network is a second layer protocol made possible by Segwit.

  4. No as SegWit is a soft fork it will continue to be compatible with the former protocol, however, systems that adopt SegWit will ultimately decrease network congestion, reducing wait times and transaction fees.

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#3136

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

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

  3. How is Segwit and the Lightning network connected?
    Segwit reduces the risk of relying on unconfirmed transactions which the lightning network benefits from.

  4. Are people, wallets and other services forced to use Segwit?
    No because it is a soft fork.

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#3137
  1. Increased block size
  2. Tx malleability
  3. Makes more safe unconfirmed transactions. Foundation for higher level which is lightning network.
  4. No
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#3138

My point is that it being a soft fork is not a reason for it being not forced, because a hard fork doesnt force either? Am i wrong?

#3139

1. What was a proposed alternative to SegWit?

Increasing block size which would have resulted in a hard fork.

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

SegWit solved two problems, the scaling issue and Tx malleability.

3. How is SegWit and the Lightning network connected?

Thanks to the implementation of SegWit now Bitcoin supports the development of second layer protocols. Lightning Network is one and it boosts small Tx’s.

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

No, they can still use the old protocol because it is a soft fork. But it is more likely to use SegWit.

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#3140

  1. What was a proposed alternative to Segwit?
    The alternative was to increase the block size from 1 MB to 2 MB.

  2. What did Segwit solve more than just the scaling issue?
    It lowered fees, and resolved a transaction malleability issue.

3. How is Segwit and the Lightning network connected?
It gave way to the layer 2 payment protocol (the lightning network), which allows even faster transactions with participating nodes.

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

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#3141

1. What was a proposed alternative to Segwit?

Segwit doubled the capacity of the Bitcoin network.

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

SegWit fixes a fatal flaw in Bitcoin’s protocol that allowed users to tamper with transaction identities. - Malleability

3. How is Segwit and the Lightning network connected?
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, since Segwit is a soft fork protocol

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#3142
  1. The increase of the block size.
  2. It fixed tx malleability, by decoupling the signature of the transaction from the actual block.
  3. Segwit made the blockchain less more secure, thus allowing for the development of 2-layer solutions such as the Lightning network.
  4. No , since non segwit tx’s are still valid, but most wallet providers have rolled out the segwit support already.
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#3143

What was a proposed alternative to Segwit?
One proposed solution was to simply increase the blocksize of each block
What did Segwit solve more than just the scaling issue?
It ensured that tranaction malleability was no longer an issue. By separating the witness data out of the transaction entirely tampering with the witness data no longer caused any changes to the related transaction id.
How is Segwit and the Lightning network connected?
Segwit ensured that it is much more difficult to tamper with unconfirmed transactions. Consequently second layer protocols are less exposed to risk when relying on these transactions.
Are people, wallets and other services forced to use Segwit?
Segwit is optional and has been adopted by around 50 percent of the nodes in the network. So no it is not mandatory but obviously it is preferable for the ecosystem that people,wallets and other services use it. Most big name wallets like Ledger and Trezor support Segwit, which means transactions are lighter and fees reduced.

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#3144
  1. What was a proposed alternative to Segwit? Increase block size or increase centralization
  2. What did Segwit solve more than just the scaling issue? Malleability fix and supports development of second layer protocols such as lightning
  3. How is Segwit and the Lightning network connected? The lightning networlk allows ot create faster transactions off line and then only add to the BKCN once the user is ready
  4. Are people, wallets and other services forced to use Segwit? No, previous “versions” can be used; but most are adopting.
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#3145
  • What was a proposed alternative to Segwit?—Increasing the block size
  • What did Segwit solve more than just the scaling issue?—TX malleability
  • How is Segwit and the Lightning network connected? They are connected because the 2nd layer solution with less risk for unconfirmed tx’s
  • Are people, wallets and other services forced to use Segwit?- No because is a soft fork and the decision is based on the mayority.
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#3146

  • What was a proposed alternative to Segwit?
    An Increased block size.

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

prevented transaction malleability and a future with lower transaction fees

  • How is Segwit and the Lightning network connected?

Segwit supports second layer solutions

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

No, it’s only a soft fork.

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#3147

  1. What was a proposed alternative to Segwit?

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

  3. How is Segwit and the Lightning network connected?

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

  5. increase the block limit to 2 MB

  6. it addressed the txn malleability issue by storing the signature outside the txn block

  7. support development of second layer protocol

  8. it is a hard fork update, it is democratic.

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#3148

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

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

  3. How is Segwit and the Lightning network connected?
    Segwit makes the lightning network even possible.

  4. Are people, wallets and other services forced to use Segwit?
    No, not at this time (still compatible with old protocol), but, there might come a day when it might be…

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#3149
  1. To increase the block size to 2MB.
  2. Transaction malleability, lower fees and faster transactions.
  3. It runs a Bitcoin Lightning Network node that’s connected to the internet 24/7
  4. No, as old protocols can still be used.
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#3150

Reading Assignment: Segwit
Segwit - Segregated Witness

What was a proposed alternative to Segwit?

The alternative was to increase the block size to a greater size then 1mB however this would have brought problems of its own like hardforks and would only be a temporary fix as the bitcoin blockchain grew.

What did Segwit solve more than just the scaling issue?

Besides the scaling issue, Segwit also fixed the malleability issue as the digital signature was separate from the the transaction which would give the transaction the same id even if someone tried to tamper with the signature.

How is Segwit and the Lightning network connected?

Segwit and the lightning network allow second layer protocols by fixing the mallaebility issue.

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

No, then have the option to upgrade to segwit support.

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#3151
  1. To implement larger block size
  2. Transaction Malleability which allowed changes to signature with block ID, which change the hash of the block. By removing the signature data from the block, this ensured changes to signature data did not affect block hash. Segwit also partially solve high fees
  3. Segwit supports the development of second layer protocols like lightning ntwork
  4. No as it is a democratic softfork and provides for pre segwit protocol conditions, but over time, adoption of segwit will increase and use of non segwit btc will decline. Conversion to segwit is seamless for the user and fees cheaper, so not much reason to resist using segwit
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#3152

  1. Increased block size

  2. Solved issue of transaction malleability

  3. Segwit allows development of second layer protocols like Lighting Network

  4. No as it is a soft fork

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