Segwit Reading Assignment

Blockchain and Bitcoin 101
#3554
  1. What was a proposed alternative to Segwit?

Bitcoin cash (increase of blocksize).

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

It fixed transaction malleability. (signatures and scripts can be changed without changing the transaction id).

  1. How is Segwit and the Lightning network connected?

With Segwit there is the possibility for second layer solutions like the Lightning network. It will boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain and settling them at a later time.

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

No nobody is forced. Not every wallet support Segwit (yet). But most (hardware) wallets do nowadays.

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#3555

Answers:

  1. Increase block size
  2. Segwit fixes issues of transaction malleability
  3. Segwit supports development of second layer protocols
  4. No as it was soft fork
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#3556

  1. An alternative to Segwit was a hard fork called Bitcoin Cash which increased the size of the block to allow more transactions.

  2. Transaction Malleability was the other issue that was solved.

  3. Segwits transaction malleabilty fix allowed transactions on the lightning to be less risky.

  4. People, wallets and other services are not forced to use Segwit due to it being a soft fork.

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#3557

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

  2. What did Segwit solve more than just the scaling issue?
    It fixed the transaction malleability issue by making the network more secure.

  3. How is Segwit and the Lightning network connected?
    Segwit and the Lightning network are connected by being a two layer solution on top of Bitcoin by allowing it to work on the second layer with low risk for unconfirmed transactions.

  4. Are people, wallets and other services forced to use Segwit?
    No, old transaction are still used as well as it is still optional.

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#3558

  1. What was a proposed alternative to Segwit?
    A proposed alternative to SegWit was an increase in block size which also lead to a hard fork, Bitcoin Cash.

  2. What did Segwit solve more than just the scaling issue?
    SegWit solves the transaction malleability and lower fees along with supporting a second layer solution like lightning.

  3. How is Segwit and the Lightning network connected?
    Lightning network is a second layer protocol which builds on segwit. Both together can make millions of transactions per sec instead of 7 to 10 per sec on older network.

  4. Are people, wallets and other services forced to use Segwit?
    No. People, wallets and other services are not forced to use Segwit because it is still compatible with old protocol.

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#3559

  1. Proposed alternative to segwit was to increase the block size

  2. Segwit fix tix a bug in bitcoin code called Transaction Malleability by removing the signature from the tranaction

  3. Lightning network is a second layer protocol on segwit.
    Segwit paved way for the development of lightning

4 … People , wallets and services usage of segwit is voluntary

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#3560
  1. Bitcoincash
  2. “Introduced a new concept called “block weight.” This is a mashup of the block size with and without the signature data, and is capped at 4MB, while the block size limit for the base transactions remains at 1MB. This means that the SegWit upgrade is compatible with the previous protocol, and avoids the need for a hard fork”.
    3-Through the development of second layer protocols.
    4-No
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#3561
  1. A proposed alternative to SegWit was an increase in block size which also lead to a hard fork.
  2. SegWit solves the transaction malleability and lower fees.
    3 SegWit supports the second layer solution which is the lightning network.
  3. No, it is a soft fork, however wallets are adding SegWit support.
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#3562
  1. To increase the blocksize
  2. transaction malleability
  3. The lightning network is a 2nd layer protocol on segwit which supports it and the malleability fix mde it easier when it comes to design and less risk when it comes to unconfirmed transactions, It also further boosts transaction capacity.
  4. No, its optional and is a soft fork and will only be implemented on chain if majority of the network/community agrees as the network chooses the longest chain those who didn’t want the segwit update or the original network hard forked and created bitcoin cash.
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#3563

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

  2. What did Segwit solve more than just the scaling issue?
    Segwit also solved the problem of transaction malleability by removing the signature from transaction ID and storing it separately.

3 How is Segwit and the Lightning network connected?
Lightning network is a second layer on top of Segwit. It processes smaller/regular transactions which helps the blockchain process transactions faster.

  1. No one is forced to use a segwit.
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#3564

1 Increase block size
2 Transaction malleability stopping people from been able to change small TX details that
modified the TX id.
3 Segwit supports the development of a second layer network such as Lightning.
4 No its a soft fork

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#3565

  1. A proposed alternative to segwit was to simply increase the block size limit.

  2. Segwit also prevents transaction malleability by removing signatures from the transaction data. With this update, a change to the signature(s) will not change the block’s transaction ID.

  3. Segwit made second layer protocols like the lightning network possible.

  4. No, segwit was a soft fork so it was still compatible with older transactions/blocks.

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#3566

  1. Increase blk. size limit. (Bitcion Cash)

  2. transaction malleability, full blks., expensive on chain transactions

  3. Lightning is a second layer protocol that builds on SegWit, increasing TX/sec = 10

  4. No, soft forks are a contraction of the rules, allowing for previous versions to work.

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#3567

Segwit Reading Assignment

The proposed alternative to SegWit was to increase the block size. (Which led to a hardfork eventually creating Bitcoin Cash)

SegWit was also able to solve the transaction malleability bug in the bitcoin code.

SegWit and the Lightning Network are connected by the development of second layer protocols.

No one or node is forced to adopt SegWit, as it is a lightfork solution.

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#3568
  1. The proposed alternative to Segwit was to double the amount of transaction space available in each block.
  2. Segwit was able to fix the scaling and solve the transaction malleability problem.
  3. Segwit supports the lightning network by solving the malleability issue.
  4. No, Segwick was created to avoid a hardfork in the system. It is a softfork and allows the nodes to run off the old protocol.
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#3569
    1. What was a proposed alternative to Segwit?

The proposed alternative to Segwit was increasing the block size to two(2) MB

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

More than just the scaling issue , Segwit solved the issue of Transaction Malleability. With this, no longer a problem, Bitcoin advanced its features to include Second-Layer Protocols and Smart Contracts which boosted the value of the network.

  1. How is Segwit and the Lightning network connected?

Segwit and the Lightning Network are connected through the function of the Segwit upgrade itself. The Lightning Network will remove frequent, small transactions of the main chain and settle back on the main Bitcoin chain when the user is ready. This would not be possible if these transactions included the Signature.

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

No wallet, person or other services are not forced to use Segwit. The protocol speaks for itself. Even though many were not as fast as others, eventually, many upgraded eventually.

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#3570
  1. To increase the size of the block.
  2. It solved transaction malleability, lowered transaction fees, and support for second layer development.
  3. They are connected via second layer protocol.
  4. No, it was a soft fork and wallets are adding SegWit support on their platforms.
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#3571
  1. A proposed alternative was increasing the block size limit.
  2. Segwit also solved the issue of transaction malleability.
  3. Segwit allowed the development of second-layer protocols such as the lightning network by fixing the issue of transaction malleability.
  4. No one is forced to use Segwit, and in fact a section of the community decided not to adopt, forking Bitcoin Cash and using larger block size limits instead.
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#3572

[quote=“filip, post:1, topic:8408”]

  • What was a proposed alternative to Segwit?
    Implement a larger block size limit rather than rely on a new transaction structure.
  • What did Segwit solve more than just the scaling issue?
    It supports the development of second layer protocols, such as the lightning network.
  • How is Segwit and the Lightning network connected?
    The development of lightning and similar second layer protocols should get more of a boost, enhancing bitcoin’s scope and potential
  • Are people, wallets and other services forced to use Segwit?
    No
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#3573

  1. One of the proposed alternatives to Segwit was simply increasing the block size from 1MB to 2 MB.

  2. Other than the scaling issue, Segwit solved the problem of transaction malleability, which allowed the hash of a transaction to be altered after being sent.

  3. Lightning Network needed the implementation of Segwit before it could continue. Lightning Network relies on many, small, off chain transactions. Eliminating transaction malleability made doing this a lot less risky because malicious actors would not be able to trick senders into sending transactions multiple times. Also, because the number of transactions would increase, the block capacity issue would also have to be fixed.

  4. No, at the time the article was written, people, wallets and other services were not forced to use Segwit. Only 14% of transactions on the network used Segwit, and both Coinbase and the wallet on the Bitcoin Core application had not yet implemented Segwit support.

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