Segwit Reading Assignment

Blockchain and Bitcoin 101
#4015

  1. Increasing the block size limit.

  2. It solved the issue with malleable transactions.

  3. SegWit “supports the development of second layer protocols, such as the lightning network.”

  4. No.

1 Like
#4016

  1. Increased block size.

  2. Segwit also solved the malleability of a tx

  3. It supports the development of second layer protocols.

  4. No, it is a softfork so the old adresses can still be used.

1 Like
#4017
  1. The proposed alternative to Segwit was to increase the overall transaction block size from 1mb to 8mb. This new protocol is called Bitcoin Cash, it created a hard fork.
  2. Segwit aimed to also solve an issue with transaction malleability, where parties would alter signatures of unconfirmed transactions, changing the hash of the proposed transaction, creating an opportunity to scam people to put it bluntly. Segwit fixed this by increasing the overall “block weight” to 4mb, however the transaction block size remained at 1mb; to fit with the existing protocol, the signatures would now be stored outside the transaction block, therefor allowing more transactions, lower fees, and less scamming opportunities.
  3. Segwit allows the development of more second layer protocols such as lightning network. Without the need to wait on unconfirmed transactions. The separation with Segwit allowed these transactions to become much more safe. I’m a bit confused on this one to be honest.
  4. People are not forced to use Segwit, as nodes still can read a Segwit transaction as fitting into the Bitcoin protocol, however you could argue that it would be more profitable to upgrade to Segwit to make more money; with the lower fees, and more transactions.
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#4018

1. What was a proposed alternative to Segwit?
An alternative (that Bitcoin Cash hard forked to use) was increasing the block size to be bigger than 1MB.

2. What did Segwit solve more than just the scaling issue?
Segwit also solved transaction malleability by taking the signature out of the transaction, which meant any changes to the signature wouldn’t change the transaction ID.

3. How is Segwit and the Lightning network connected?
The implementation of Segwit allowed for complex features, such as adding second-layer protocols; the Lightning network is a second-layer protocol that was added because of Segwit.

4. Are people, wallets and other services forced to use Segwit?
No, Segwit is a soft fork meaning that it’s not enforced for nodes, wallets, miners, etc. However, if the majority adopt Segwit, then miners, wallets, nodes that don’t upgrade will create transactions/blocks that will be rejected, so it’s recommended to upgrade to Segwit.

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#4019
  1. To increase block size.
  2. malleability bug that was present at that time and allowed the transaction id to be change.
  3. Segwit update support second layer solutions such as lightning network.
  4. No, because Segwit is a soft fork, it doesn’t force anyone to use it.
1 Like
#4020

  1. What was a proposed alternative to Segwit?
    As some in the bitcoin community agreed that Segwit is NOT the solution bitcoin has been waiting for, Bitcoin Cash was proposed, which is a Hard Fork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.

  2. What did Segwit solve more than just the scaling issue?
    Segwit supported the development of second layer protocols, such as the lightning network.
    Segwit also boosted development work on other features such as MAST (which enables more complex bitcoin smart contracts), Schnorr signatures (which would enable another transaction capacity boost) and TumbleBit (an anonymous top-layer network).

  3. How is Segwit and the Lightning network connected?
    Segwit supports a 2nd layer protocol, the Lightning Network, which will boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain, only settling on the bitcoin blockchain when the users are ready.

  4. Are people, wallets and other services forced to use Segwit?
    No. Many wallets have yet to add SegWit support.

1 Like
#4021

Hello all!

  1. The proposed alternative to Segwit was to increase the block size.
  2. Segwit also solved the issue of transaction malleability via signatures.
  3. Segwit was first deployed on the Lightning network and then months later onto Bitcoin.
  4. Segwit was a soft fork and so therefore there was not a chain split and people can still use the old version of the rules.
1 Like
#4022
  1. What was a proposed alternative to Segwit?
  • The proposed alternative to SegWit was the implementation of a larger block size.
  1. What did Segwit solve more than just the scaling issue?
  • SegWit solved the issue that anyone could modify the transaction ID without changing the transaction content.
  1. How is Segwit and the Lightning network connected?
  • The Ligthning Network is a second layer protocol allowing much much more transactions per second as the bitcoin blockchain does. The network uses smart contract functionality to enable payments between the network participants.
  1. Are people, wallets and other services forced to use Segwit?
  • No, there is no obligation to implement SegWit. The hard fork bitcoin cash was developed due to a part of the bitcoin community refused to implement SegWit.
1 Like
#4023
  1. What was a proposed alternative to Segwit?
    Larger block size
  2. What did Segwit solve more than just the scaling issue?
    tx mallliability
  3. How is Segwit and the Lightning network connected?
    By solving the tx milleability problem second layer structures that rely on unconfirmed transactions such as the lightning network can be implemented
  4. Are people, wallets and other services forced to use Segwit?
    Tjey must update
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#4024

it is not must, old addresses and transactions can still be used.

#4025
  1. What was a proposed alternative to Segwit?

Increased blocksize.

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

Transaction malleability.

  1. How is Segwit and the Lightning network connected?

Segwit enables layer 2 protocols like LN.

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

No.

1 Like
#4026

  1. The alternative to Segwit was simply to increase the block size from 1mb to 2 mb.

  2. In addition to the scaling issue Segwit solved the problem of transaction malleability… the potential of changing the transaction ID and thus the Hash was eliminated by Segwit.

  3. The risk associated with unconfirmed transactions being eliminated by Segwit opened the door to the use of 2nd layer protocols such as the lightning network.

  4. Being a Soft Fork users are not forced to adopt… thus there is no urgency but rather adoption can proceed organically over time

1 Like
#4027

  1. A proposed alternative to Segwit was inceased block size (Bitcoin Cash)

  2. Other than the scaling issue, Segwit also solved the issue of transaction malleability

  3. Segwit makes possible the addition of second layer solutions like the Lightning Network

  4. People, wallets and services are not forced to use Segwit because it is a soft fork

1 Like
#4028 
What was a proposed alternative to Segwit?

A block size increase.

What did Segwit solve more than just the scaling issue?

Segwit also solved the transaction malleability issue.

How is Segwit and the Lightning network connected?

The development of Segwit paved the way for second layer protocols to be implemented.

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

Nothing is forced as Segwit is compatible with the previous protocol rules.

1 Like
#4029
  1. What was a proposed alternative to Segwit?
    Increasing block size.
  2. What did Segwit solve more than just the scaling issue?
    Transaction malleability.
  3. How is Segwit and the Lightning network connected?
    SegWit allows for second layer solutions, on which the Lightning network is built upon.
  4. Are people, wallets and other services forced to use Segwit?
    No, it is a soft fork which means transactions can be made by following the old protocol.
1 Like
#4030
  1. What was a proposed alternative to Segwit? - a block size increase
  2. What did Segwit solve more than just the scaling issue? - it fixed a bug called transaction malleability which as long as it existed made layer 2 solutions like Lighting impossible.
  3. How is Segwit and the Lightning network connected? Without segwit, Lightning would not be possible because malleability would render it insecure
  4. Are people, wallets and other services forced to use Segwit? -> no. It was introduced as a softfork and non-segwit transactions still exist
1 Like
#4031
  1. What was a proposed alternative to Segwit?
    A proposed alternative was to make the block size larger (2MB), which led to the hardfork known as Bitcoin Cash.
  2. What did Segwit solve more than just the scaling issue?
    Segwit also solved the issue of transaction malleability, also allowed for layer 2 solutions
  3. How is Segwit and the Lightning network connected?
    Segwit allowing for 2nd layer allowed for smart contracts such as the lightning network
  4. Are people, wallets and other services forced to use Segwit?
    Due to the nature of the softfork, there is no forced use of Segwit, yet more wallets have added it
1 Like
#4032

  1. What was a proposed alternative to Segwit?
    Increasing the block size from 1mB to 2mB, which is now Bitcoin Cash (a fork on the Bitcoin network, for those who disagreed with the segwit update).

  2. What did Segwit solve more than just the scaling issue?
    The segwit update solved transaction malleability which was being used to exploit transactions to scam people for more money. It also supported second layer protocols to be built on top of the Bitcoin network (such as lightning) and allow for more frequent smaller transactions.

  3. How is Segwit and the Lightning network connected?
    The segwit update allowed for second layer protocols to be built on top of the Bitcoin network, with the lightning network being one of these second layer protocols.

  4. Are people, wallets and other services forced to use Segwit?
    Segwit and legacy addresses are compatible however some wallets have restrictions on where you can make transactions to.
    Some wallets and services haven’t implemented SegWit compatibility in their code yet such as blockchain.com wallet

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#4033
  1. What was a proposed alternative to Segwit?

To increase the blocksize

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

It fixed transaction malleability by removing the signature information and storing it outside the base transaction block

  1. How is Segwit and the Lightning network connected?

It made the feature that relies on unconfirmed transactions less risky since you cant mess around with the hash ID.

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

No. It’s a soft fork

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#4034
  1. Block size increase
  2. Transaction ID malleability
  3. Segwit made second layer solutions possible.
  4. No
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