Segwit Reading Assignment

Blockchain and Bitcoin 101
#3794

Data suggests that up to two-thirds of all Bitcoin transactions now use SegWit, as more exchanges begin supporting the protocol.

#3795
  1. To increase the size of the block from 1 mB to 2 mB
    2.Segwit solved transactions malleability issue too, it removed signature from the block with the transactions and empowered light nodes to participate in the network.
  2. Segwit update allowed lightning network ( second layer protocol) to exist
  3. More and more bitcoin users use segwit, at the moment around 40%, but is still in the process of being fully adapted. Is not that easy because a lot of people don’t support segwit idea
1 Like
#3796

  1. increasing block size to 4mB

  2. maleability issue

  3. SegWit made second layer solutions possible, which is the lightning network

  4. No, since it is a soft fork

1 Like
#3797
  1. A proposed alternative to SegWit was to increase the transaction mB.
  2. Segwit solved the transaction malleability issue. It fixed small amounts of data from being able to be changed affecting the transaction id and the hash without changing the content of the transaction.
  3. Segwit and the Lighting Network are connected because it will allow for larger Bitcoin tx.
  4. No people and wallets are not forced to use the SegWit protocol. A hard fork has also been implemented known as Bitcoin cash.
1 Like
#3798
  1. What was a proposed alternative to Segwit?
    To increase the blocksize limit to 2MB, as was done with the hard fork Bitcoin Cash.
  2. What did Segwit solve more than just the scaling issue?
    Solved the transaction malleability as well.
  3. How is Segwit and the Lightning network connected?
    SegWit allowed for second layer protocols, such as the Lightning network.
  4. Are people, wallets and other services forced to use Segwit?
    No, but more and more users use SegWit.
1 Like
#3799
  1. Those that wanted to have a larger block size, thus opposing changing the transaction signature. #BITCOIN CASH.
  2. SegWit also solved transaction Malleability, a flaw in Bitcoin code which allowed wrong doers to change the transaction ID on transactions, thus also changing the hash but not the content, enabling them to ‘con’ recipients and steal their Bitcoin.
  3. When SegWit fixed the Malleability issue it made any features that relied on unconfirmed transactions much easier to design, and less of a risk.
    4.This was a soft fork, so no it is not forced, original protocol can still be used.
1 Like
#3800

  1. Simply increasing the blocksize beyond 1mB.

  2. It also solved the problem of transaction malleability.

  3. The Segwit allowed for layer 2 solutions, like the lightening network.

  4. No, but fees will be higher if it is not used.

1 Like
#3801
  1. What was a proposed alternative to Segwit?

Bitcoin cash was a hard fork of Bitcoin that increased the block size and was proposed as an alternative solution to Segwit.

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

It also solved transaction malleability (the ability to make slight changes to transactions) by moving signature data out of the transaction.

  1. How is Segwit and the Lightning network connected?

Segwit made the Lightning network easier to implement.

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

No, they can upgrade when they want to and are ready to do so.

1 Like
#3802
  1. What was a proposed alternative to Segwit?
  • Increased in block size limit from 1mB to 2mB
  1. What did Segwit solve more than just the scaling issue?
  • TX malleability
  1. How is Segwit and the Lightning network connected?
  • Segwit made unconfirmed transactions data less risky that lightning network is dependent on
  1. Are people, wallets and other services forced to use Segwit?
  • Yes, other parties are required to comply with the SegWit upgrade to carry on reading and applying
#3803

People, wallets and other services are not forced to use Segwit. It is a soft fork.

1 Like
#3804
  1. Increase block size (bitcoin cash implemented it)
  2. It solve the TXs malleability
  3. From segwit update, BTC allows layer 2 solutions like lightining network, and also, smart contracts
    4 No. According to the article, the implementation was progressively adopted by the community
1 Like
#3805
  1. A hardfork solution where the size of the block increased from 1 mB to 2 mB
  2. The TX malleability issue where signature changing was altering the hash
  3. Both Segwit and Lightning network are BTC protocol updates that were implemented.
  4. They are not, because it’s a softfork update. However, people using the previous protocol will have to adapt to it since the majority nodes are now using it.
1 Like
#3806
  1. To increase the block size from 1MB to 2MB.
  2. Transaction malleability.
  3. Segwit enabled to the deployment of smart contracts and second-layer solutions.
  4. As it is a soft fork, others who do not agree aren’t forced to use it.
1 Like
#3807
  1. An increase in block sizes.
  2. Allows transaction malleability.
  3. Both features allow for faster transaction speeds.
  4. No.
1 Like
#3808
  1. What was a proposed alternative to Segwit?

A suggested solution was to increase block size, i.e. to 2Mb however this only would be a temporary solution as it would repeat the cap threshold again like the cap of 1Mb, it would also increase centralisation as BTC is meant to be decentralised. İncreasing to 2Mb would also require an increase in more expensive hardware, storage and internet as it would become harder to propagate blocks to the network of nodes and a higher risk of Forks and more stale blocks, so this option was not the way forward.

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

Segwit removed the signature from transactions, this way it solved TX Malleability, no longer allowing changes to signatures that could invalidate previous hashed TX İD.

  1. How is Segwit and the Lightning network connected?

Segwit supports the development of second layer protocols like the lightning network.

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

No, it is a soft fork falling into consensus rules. Overtime other wallets embrace the upgrade, the percentage of transactions that use the SegWit structure are on the increase

1 Like
#3809

1.Increase limit of the block size
2.It allows the use of layer two solutions and solves the malleability issue
3.Lightning network is a layer 2 solution and that is what Segwit makes possible
4.No because it’s a soft fork

1 Like
#3810

  1. Larger block size, which ended being what Bitcoin Cash implemented.

  2. The ability to deploy second-layer projects, specifically projects that relied on unconfirmed transactions.

  3. Segwit allows for the lightning networked to operate because of second layer functionality.

  4. Transactions with the old structure can still be used because this was a soft fork.

1 Like
#3811
  1. What was a proposed alternative to Segwit?
    Increase block size to 2MB, would cause an hard fork
  2. What did Segwit solve more than just the scaling issue?
    transaction mallability
  3. How is Segwit and the Lightning network connected?
    You keep the payment channel open with only 1 signature, but channel will not close before the other signature is signed also
  4. Are people, wallets and other services forced to use Segwit?
    No, legacy still work
1 Like
#3812
  1. What was a proposed alternative to Segwit?

Increasing the blocksize limit

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

Segwit increased security and transaction malleability by storing the signature outside of the block to allow contents of the block to be changed without changing the tranaction id

  1. How is Segwit and the Lightning network connected?

Segwit supports the development of second layer protocols such as the Lightning Network which boosts bitcoin’s transaction capacity.

  1. Are people, wallets and other services forced to use Segwit? No it is a soft fork
1 Like
#3813
  1. What was a proposed alternative to Segwit?

Increasing block size to 2MB.

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

Remove signatures from the transaction and add block weight, a combination of signatures and transactions without the signatures, capped at 4MB.

  1. How is Segwit and the Lightning network connected?

Segwit paved the way for lightning to improve Bitcoin even further.

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

No, the upgrade is a soft fork, however I reckon that wallets/nodes running the old version of the blockchain might not be able to read the new transactions.

1 Like