What was a proposed alternative to Segwit?
To increase the block size
What did Segwit solve more than just the scaling issue?
Transaction malleability attacks
How is Segwit and the Lightning network connected?
Segwit allowed the LN to be created
Are people, wallets and other services forced to use Segwit?
No
An alternative solution proposed was the increase of bitcoin Block. Any such solution would lead to a hard fork, as Bitcoincash. While Segwit limits the size of data entering in a block from each transaction, by removing the signatures from the main block, solutions like Bitcoincash propose a larger Bitcoin Block.
The main issue that Segwit tackled was the transaction malleability, a flaw allowed anyone to change small details that modified the transaction id (and the subsequent hash) but not the content. This could could be exploited by making the sender believed that his transaction wasn’t executed and making him repeat the transaction, spending more than initially planned.
The lightning network tries to speed BTC transactions by handling many small but frequent transactions off-chain, and when when it’s time for a session of transactions to be settled they are sent back to the chain to be confirmed. Segwit’s malleability fix make any solution that use unconfirmed transactions, like Lightning Network, farm more easier to implement and safer.
Because Segwit is softfork, it’s not mandatory for nodes to use it. Nevertheless it gains more and more adaptation. At the moment of this post post more than 70% of the transactions are on Segwit
What was a proposed alternative to Segwit?
Increase the block size to allow for more transactions.
What did Segwit solve more than just the scaling issue?
By removing the signatures from the base transaction block, it also fixed the transaction malleability bug.
How is Segwit and the Lightning network connected?
The implementation of segwit allowed for the development of second layer protocols like the lightning network.
Are people, wallets and other services forced to use Segwit?
Wallets were not required to update but were encouraged, as the segwit update would decrease the transaction fees (more trxs in each block).
What was a proposed alternative to Segwit?
Block size increase (Bitcoin Cash)
What did Segwit solve more than just the scaling issue?
Tx Malleability
How is Segwit and the Lightning network connected?
Segwit enabled lightning by removing Tx Malleability.
Are people, wallets and other services forced to use Segwit?
No, adoption is optional.
A proposed alternative to Segwit was to increase the size of the blocks that were to be added to the blockchain. But the problem with this was that it would’ve resulted in a hard fork which many people were not in favor of.
Segwit also solved the transaction malleability issue; which was a problem that existed within the TX ID, which allowed people to change the script sign and since the unique ID (which was a result of inputs, outputs and all details of the TX) was a hashed format of the TX information by altering the script sign you could alter the TX ID deceiving a sender by telling them that the transaction has not been sent forcing them to double send as their original TX ID has now disappeared. Segwit solved this by simply removing the script sign from the TX and kept it separate so even if you alter the script sign, this does not affect the hash that gives you the unique TX ID.
Segwit allowed for building on top of the bitcoin network by adding the lightning network protocol, and this protocol basically wanted to take frequent small transactions that occurred off chain and bring them back on chain when users was ready to process them, this also increased the amount of TX’s that could take place in the block for the same space of 1mB as before. Segwit made the lightning network less risky to design as these unconfirmed TX’s ID that were taken off chain could not be altered and their respective hashes would stay the same.
No, because Segwit was a soft fork to bitcoin’s protocol.
What was a proposed alternative to Segwit? increase in block size
What did Segwit solve more than just the scaling issue?
it solved the trx malleability issue helped lowering trx fees
How is Segwit and the Lightning network connected?segwit made the second layer possible
Are people, wallets and other services forced to use Segwit?
no, old wallets and dresses can also be used
1 increase the block size
2 transaction malleability and support for a second layer.
3 without segwit the lightning Network would not be possible.
4 no but it would be silly to not update otherwise if you were mining you would never succeed
What was a proposed alternative to Segwit?
Change the block size limit to 2mB instead of 1mB
What did Segwit solve more that just the scaling issue?
It solve the Tx malleability
How is Segwit and the Lightning network connected?
They both want to solve the bc size limitation therefore increasing the transactions speed and lightning would be impossible without segwit network because of the signature malleability.
Are people, wallets and other services forced to use Segwit?
Nope, they are not, however, a segwit wallet will have less tx fees as less data will be used on the bc.
What was a proposed alternative to Segwit?
Increasing the block size
What did Segwit solve more than just the scaling issue?
It also made room for layer 2 solutions and more robust smart contract system
How is Segwit and the Lightning network connected?
Segwit enabled Lightning to work by solving the problem of transaction mailability
Are people, wallets and other services forced to use Segwit? No, but it is pretty widely accepted change in most wallets now.
1.- The increase of the size of the block, increasing it to 2mB, 8mB or even 32mB.
2.- It solved the transaction malleability and with that opening the possibility to more complex features.
3.- The application of Segwit supports the development of the Lightning Network, boosting the transaction capability and reducing the strain to the bitcoin chain.
4.- No they are not, everyone decide if and when is appropriate to use it.
1.) The proposed SegWit alternative was an increase in block size limit, which created Bitcoin Cash, rather than rely on a new transaction structure.
2.) SegWit solved the issue of transaction malleability as well by separating the malleable part of the TX hash, the signature, from the transaction data altogether.
3.) Since SegWit supports development of L2 (Layer 2) protocols, the Lightning Network is more reliable as a solution to the problem of transaction fees/speed by allowing small, frequent transactions to be performed off-chain, then to be settled on the BTC chain when ready.
4.) No one is forced to use SegWit, but most wallet providers such as Trezor, Ledger, and Coinbase use it since a majority of the community supports it.
1. What was a proposed alternative to Segwit?
The proposed alternative to Segwit was bitcoin cash which provided a block size increase and a hard fork.
2. What did Segwit solve more than just the scaling issue?
Segwit solved the development of second layer protocols such as the lightning network. It also made a malleability fix that made unconfirmed transactions less risky.
3. How is Segwit and the Lightning network connected?
Segwit and the Lightning network are connected in that Segwit fixed the problem of malleability, therefore allowing second-layer protocols and smart contracts to be built. The Lightning network is a second-layer protocol .
4. Are people, wallets and other services forced to use Segwit?
No they are not and therefore the adoption is slow. But, wallets are adding Segwit support such as trezor, ledger, Electrum, Kraaken, and Coinbase.
A proposed alternative to SegWit was an increase in block size
Segwit solves the transaction malleability and lower fees along with supporting a second layer solution.
Segwit supports the second layer solution which is the lightning network
No, wallets and other services can still use the old protocol.