Segwit Reading Assignment

Blockchain and Bitcoin 101
#3934
  1. What was a proposed alternative to Segwit?

Answer:

Increasing the block size from 1mB to 2mB.

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

Answer:

The approach solve the issues with transaction malleability.

  1. How is Segwit and the Lightning network connected?

Answer:

Lightning network is a second layer protocol which is builds on segwit.

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

No, it was a soft fork.

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#3935

  1. The alternative was to hard fork the network to increase the block size to 2mb.

  2. It removed the signature from the block allowing the block to fit more tx’s while increasing tx speed and improving security. The update also made second layer protocols possible.

  3. The lightning network allows users to make smaller off chain transactions of bitcoin and adding tx’s to the block at users request.

  4. No users were not forced to apple segwit update. Users who didn’t adapt the update are most likely to experience higher transactions fees, and times.

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#3936

  1. What was a proposed alternative to Segwit?
    An alternative solution to Segwit was increasing the block size, which created a hardfork to a new chain called Bitcoin Cash.

  2. What did Segwit solve more than just the scaling issue?
    Transaction malleability, by removing signatures from the transaction ID, the ID can no longer be changed through the signature.

  3. How is Segwit and the Lightning network connected?
    Segwit removes transaction malleability, which was a hurdle in the way of increasing transaction throughput via the Lightning Network.

  4. Are people, wallets and other services forced to use Segwit?
    No, but if they want to remain on the longest chain, eventually they must upgrade.

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#3937

  1. Increasing the block size

  2. It solved the transaction malleability issue

  3. Segwit opened the door for layer 2 solutions such as lightning to be built on top of Bitcoin

  4. No, they are not forced to use it, but there is great incentive to utilize it.

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#3938
  1. A proposed alternative to Segway was increasing the current block size. However, doing this would cause the block to do a hard fork. Hence why we something like Bitcoin Cash.
  2. It also solved a malleability issue because now the signature was separate from the transaction and could not be altered and change the transaction ID anymore.
  3. By removing the signature section outside the block id, segwit allowed for unconfirmed
    txs to become less risky as a layer on the chain.
  4. No, as a soft fork update, Segwit is not forced on users and services, but they will not receive any of the new advantages until they update.
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#3939
  1. Alternative to Segwit was the proposal to increase the block size.
  2. It solved the issue of transaction malleability.
  3. Lightning network is not possible without the transaction malleability solution that Segwit provides, mainly storing signatures outside of the block.
  4. No
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#3940

  1. The alternative was doubling the block size limit to 2mB

  2. Segwit also solved the signature malleability issue, which removed the possibility of P2P fraud.

  3. Segwit made it more feasible to add layer 2 solutions to the base chain, such as lightning.

  4. They don’t have to since this was a soft fork. The benefits have won over the majority over time though (as of 10/21).

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#3941

What was a proposed alternative to Segwit?
The proposed alternative to Segwit was to increase the block size, enabling bigger blocks without having to change the structure of the transaction data.

What did Segwit solve more than just the scaling issue?
Segwit solved the issue of transaction malleability. Removing the signatures from the data and storing it outside of the transaction.

How is Segwit and the Lightning network connected?
Segwit supports the development of second layer protocols, enabling the Lightening network to boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain.

Are people, wallets and other services forced to use Segwit?
No, other people and wallets can choose whether or not they upgrade.

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#3942

  1. What was a proposed alternative to Segwit?

    Increase on the block size

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

    The malleability problem where nodes where allowed to change the hash of a transaction by changing the witness (signature)

  3. How is Segwit and the Lightning network connected?

    Lightning proposes to program unconfirmed recurrent transactions off the blockchain. That is less risky with no chance of changing the hash id of the block.

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

    They’re not forced to use but we see 80% adoption probably boosted by the smart contracts capabilities

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#3943

Segwit Reading Assignment – Questions

1. What was a proposed alternative to Segwit?

Increasing the blockchain’s block size limit to 2 MB (i.e Bitcoin Cash), which would have been a short-term quick fix to the problem of higher fees and longer confirmation/processing times imposed on users (due to block sizes being limited to 1 MB).

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

The Segwith hard fork solution was also able to solve the transaction (TX) malleability problem, whereby users on the receiving end of transactions would be able to modify a transaction ID’s hash value (altering the signature or scripsig, which, if stored within a transaction’s data structure, would impact its hash value directly). Doing so would enable them to claim never having a particular transaction, therefore potentially duping/tricking senders from sending the same transaction/payment/transfer a second time.

3. How are Segwit and the Lightning network connected?

Segwit supports the Bitcoin network’s second layer solution, which is the Lightning Network itself.
Additionally, Segwit enabled the implementation of MAST, Schnorr signatures and Tumblebit

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

No, as it was implemented as a soft fork.

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#3944
  1. What was a proposed alternative to Segwit?
    Answer: To increase the block size of transactions i.e bitcoin cash made which made use of this alternative idea
  2. What did Segwit solve more than just the scaling issue?
    Answer: It fixed transaction malleability that allowed users to tamper with transaction identities.
  3. How is Segwit and the Lightning network connected?
    Answer: Both are having the objective to increase the number of transactions the network can process based on on segwits feature of supporting 2nd layers.
  4. Are people, wallets and other services forced to use Segwit?
    Answer: No , as it was a soft fork so it still falls within the rules before the update.
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#3945
  1. What was a proposed alternative to Segwit?
    • Bitcoin Cash, a fork was created by raising the block size to allow more transactions to fit.
  2. What did Segwit solve more than just the scaling issue?
    • Provide more extensibility of features by allowing more support of second layer solutions with unconfirmed transactions and the possibility of smart contracts.
  3. How is Segwit and the Lightning network connected?
    • By providing the possibility of unconfirmed transaction, bitcoin allow the lightning network to implement transactions outside of the main chain which can provide even more scaling and cost reduction by sacrificing a little bit of security for efficiency at a limited scale.
  4. Are people, wallets and other services forced to use Segwit?
    • No, wallet had to support that news feature to be able to use it, which slowed down the adoption. Although, compatibility between wallets implicated in a transaction is required for it to work properly.
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#3946
  • What was a proposed alternative to Segwit?
    Increasing the block size.
  • What did Segwit solve more than just the scaling issue?
    It solved a bug called transaction malleability.
  • How is Segwit and the Lightning network connected?
    Segwit support layer 2 solutions which is the lightning network
  • Are people, wallets and other services forced to use Segwit?
    No, it is a soft fork.
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#3947
  1. What was a proposed alternative to Segwit?

increasing the block cap from 1 MB to 2MB.

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

transaction malleability. This fix allowed for more transparent understanding and Tx ID’s were no longer able to be changed.

  1. How is Segwit and the Lightning network connected?

The lightning network is a layer 2 solution for making smaller transactions possible off-chain until syncing at a later date. Since Segwit solved the malleability issue, it made building on top of unconfirmed transactions less risky & easier.

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

No, due to it being a soft fork.

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#3948
  1. To increase the block size
  2. It resolve the malleablity issue.
  3. When the segwit update its function its make possible lighting network.
  4. No it diesnt force people to obligate to use it it was a soft fork
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#3949
  1. Increasing the size of the block
  2. Lower fees & Tx Malleability by creating layer 2 lightening network for faster, smaller transactions.
  3. Enables send layer solution
  4. No, Tx legacy support are still able to be done Segwit is optional support for wallets.
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#3950

  1. Instead of changing the block structure, some people proposed to increase block size, for example Bitcoin Cash.

  2. It also solved the Transaction Malleability problem, which not only helped with security but makes it easier to create second layer solutions.

  3. Segwit made second layers/sidechains such as Lighting way easier to implement and be efficient.

  4. No, it’s optional.

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#3951
  1. The alternative was to raise the block size, which pushed Bitcoin Cash.
  2. Segwit took the signature data out of the transaction Hash, the signature data makes a big part of the size but also enabled malleability to happen. So no Signature data in the hash, salved 2 problems.
  3. Segwit enabled the creation of second layer protocols like lightning, on the Base Protocol.
  4. No it is a soft fork, the rollout happened step by step. It is like an incentivizing mechanism if you want to use it it will reduce your transaction fees.
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#3952
  1. Increasing the size limit for blocks.
  2. It fixed transaction maleability, by removing the signature which could be edited.
  3. Segwit allowed the creation of second layer protocols suchas the Lightning network.
  4. No, it’s a soft fork.
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#3953

1: Decrease the size of each transaction in a block to increase block size.
2: The other issue Segwit solved was txn malleability
3: The lighting network can be deployed more easily because of the solutions provided by Segwit.
4: Other participants, as well as wallets and other services, are not required to use Segwit, because Segwit was a soft fork.

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