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One proposed alternative was to increase the block size. However, apart from having potentially negative effects like increased centralization, extra investment in more hardware, stale blocks and forks, this alternative to Segwit would also not have solved the transaction signature malleability problem.
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Segwit solved both the scaling problem and the transaction malleability problem.
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Segwit was activated on the Lightning network (Litecoin) on May 10, 2017 and on Bitcoin on August 23, 2017. Lightning Network Protocol adds another layer to Bitcoin’s block chain and it enables users to conduct many small transactions off the block chain which can in turn be reconciled (i.e. settled) via single summary transactions on the Bitcoin block chain. Thus contributing greatly to increasing the transaction rate while also contributing to lowering the amount of storage required in a Bitcoin block chain block to represent frequent and/or small transactions.
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No they are not forced because Segwit was a soft fork.
- What was a proposed alternative to Segwit?
A proposed alternative of segwit wa increase block size 1 MB to
2.What did Segwit solve more than just the scaling issue?
It solved the Transection Mellability
3.How is Segwit and the Lightning network connected?
lighting network is second layer protocol build on segwit. - Are people, wallets and other services forced to use Segwit?
no
- The alternative to SEGWIT was increasing block size.
- SEGWIT not only solved the scaling issue regarding limited block size, but it also addressed the transaction malleability issue. This was the main purpose in the first place.
- SEGWIT was implemented on the lightening network and still is. It acts as a second layer protocol enabling small and frequent transactions to be conducted off the blockchain.
- People and wallets are not forced to use SEGWIT.
- What was a proposed alternative to Segwit?
Increase the block size. - What did Segwit solve more than just the scaling issue?
Segwit also solved the transaction malleability bug which allowed users to modify TX ids without affecting the contents of the TX. - How is Segwit and the Lightning network connected?
Segwit provided a fix that allowed the bitcoin network to be able to develop second layer protocols. - Are people, wallets and other services forced to use Segwit?
Since Segwit is a softfork and the old protocol would still be valid nodes are not forced to accept the update.
- What was a proposed alternative to Segwit? was to increase block size 1mB > 2mB or higher, this would cause a hard fork.
- What did Segwit solve more than just the scaling issue? Transaction malleability was solved and increased speed with more transactions per block.
- How is Segwit and the Lightning network connected? Lightning network was built on top of Segwit giving it a second layer protocol, this fixed the malleability problem.
- Are people, wallets and other services forced to use Segwit? The wallet still works without Segwit network but will create a soft fork.
- Increasing the block size. And this is what Bitcoin Cash did, as they didn’t agree to Segwit.
- Aside from scaling, Segwit helped to fix Transaction Malleability and also supported the development of second layer protocols and the development of complex smart contracts
- Lightning network is a second layer protocol that was only possible due to Segwit introduction.
- No, not everyone was forced to use Segwit. In fact the rollout was a slow process as some wallets took a while to add Segwit support. Bitcoin Cash was also a fork that didn’t agree with the Segwit rollout, increasing the block size instead.
Increasing the block size limit from 1MB => 4 MB.
Segwit also solved the issue of transaction malleability, by introducing the Lightning network.
The lightning network was built on top of Segwit as a 2nd layer.
No, as segwit is a soft fork. An example is BTC cash, which increased the block size from 1MB to 4MB.
Q.1.What was a proposed alternative to Segwit?
A.1.Increase the block size to 2 mB
Q.2.What did Segwit solve more than just the scaling issue?
A.2. Removed the signature from the transaction block (removed maleability) and this allowed for more transactions to be contained in the block,
Q.3.How is Segwit and the Lightning network connected?
A.3.SegWit supports the development of second layer protocols,
such as the lightning networktaking frequent, which takes small transactions off-chain,
only settling on the bitcoin blockchain when the users are ready
Q.4.Are people, wallets and other services forced to use Segwit?
A.4.As more wallets embrace the Segwit upgrade, the percentage of transactions that use the SegWit structure will increase, and bitcoin fees will drop as blocks contain a greater number of transactions. The development of lightning network and similar second layer protocols should get more of a boost
- Increasing block size to 2 MB
- It solved the malleability issue
- Lightning network is a layer 2 solution built on top of Segwit
- No they can still use the main bitcoin network
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What was a proposed alternative to Segwit?
To increase the size of the blocks. -
What did Segwit solve more than just the scaling issue?
SegWit fixed transaction malleability -
How is Segwit and the Lightning network connected?
Segwit makes second layer possible such as Lightning network -
Are people, wallets and other services forced to use Segwit?
No
It’s time for a reading assignment about Segwit. Read through the following and answer the following questions.
- What was a proposed alternative to Segwit?
- To double the blocksize.
- What did Segwit solve more than just the scaling issue?
- It med Transaction Malleability impossible. And therefore more secure.
- How is Segwit and the Lightning network connected?
- Segwit added more potential for a second layer solution. The lightning network is second layer.
- Are people, wallets and other services forced to use Segwit?
- No. .
- The alternative to Segwit that was proposed was an increase in block size.
- Segwit solved transaction malleability which allows for easier deployment of second layer network.
- Segwit made second layer solutions a possibility.
- No, previous transactions are still used because Segwit is a soft fork.
- The alternative to Segwit was to increase the block size limit.
- Segwit also solved transaction malleability.
- Segwit supports the development of second layer protocols, such as the Lightning network.
- No one is forced to use Segwit. It is a soft fork.
1.Bitcoin Cash
2.a bug in the bitcoin code called transaction malleability. This flaw allowed anyone to change small details that modified the transaction id (and the subsequent hash) but not the content.
3.SegWit made the development of second layer protocols such as the lightning network possible.
4.No, as more wallets, people and services embrace the upgrade, at the same time seeing the benefits. Be it the drop in fees, the malleability fix, the boost in bitcoin’s transaction capacity etc.
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What was a proposed alternative to Segwit?
Increasing the size of blocks to 2MB. -
What did Segwit solve more than just the scaling issue?
It resolved the transaction malleability issue. -
How is Segwit and the Lightning network connected?
Segwit provided a coding solution to the transaction malleability problem and that allowed for the adoption of second layer protocols such as the Lightning network. -
Are people, wallets and other services forced to use Segwit?
No, being a soft fork allows the nodes to choose to incorporate the new protocols or not.
- What was a proposed alternative to Segwit?
Bitcoin cash, a hardfork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.
- 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. Due to this development, signatures and scripts can be changed without affecting the transaction id.
- How is Segwit and the Lightning network connected?
SegWit supports the development of second layer protocols, such as the lightning network because the malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design allowing the lightning network to further boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain, only to be settled on the bitcoin blockchain when the users are ready.
- Are people, wallets and other services forced to use Segwit?
No-one is forced to use segwit because it’s a soft fork that is still within the rules of the protocol prior to the update and even in spite of the obvious advantages, the implementation of segwit is moving slowly because not everyone in the bitcoin community agrees that its the solution. Some believe that it’s a temporary fix however with the main bitcoin code (bitcoin core) having made SegWit-friendly adjustments, this will lead to an increase in both usage and additional functionality.
- Increasing the block size.
- TX malleability
- Segwit makes a second layer possible.
- No as it’s a softfork it’s optional and still falls within the original rules.
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What was a proposed alternative to Segwit? Increasing block size.
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What did Segwit solve more than just the scaling issue? Transaction malleability. Segwit allows the use of second layer protocols.
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How is Segwit and the Lightning network connected? It allows second-layer protocols, thus enabling the Lightning network in which smaller transactions are taken off-chain until they’re ready to be settled onto the Blockchain.
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Are people, wallets and other services forced to use Segwit? No.
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An increase in the block size
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It eliminated transaction malleability
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Segwit enabled 2nd layer protocols to be possible of which lightning network is one
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No they are not because it is a soft fork
1. What was a proposed alternative to Segwit?
A proposed alternative to segwit was to increase the BTC block size to 2MB possibly causing a hard fork of the network.
2. What did Segwit solve more than just the scaling issue?
Segwit not only decreased the block size slightly by removing the transaction signature from the block, but it also fixed the transaction malleability problem where the transaction recipient could change the transaction signature and hence the hash of the transaction (transaction ID) making it appear to the recipient that the transaction never occurred when in reality it did.
3. How is Segwit and the Lightning network connected?
The Segwit update, by fixing the transaction malleability problem, allowed building second layer solutions, like the Lightning network, very possible since these solutions rely heavily on unconfirmed transactions.
4. Are people, wallets and other services forced to use Segwit?
No they are not. There was some resistance to the segwit update and it led to a hard fork of the bitcoin network resulting in bitcoin cash. These miners/nodes opted instead to increase the block size to 2MB.