Segwit Reading Assignment

Blockchain and Bitcoin 101
#4115

Increase size of the blocks

Solved the problem of transaction malleability lowering fees and supporting a2nd layer

Segwit makes 2nd layer solutions possible

No old addresses or transactions can be used soft fork

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#4116

  1. Increasing block size to 2MB ala Bitcoin Cash

  2. Solved the tx malleability issue by removing the sig from the tx hash and therefore the tx id could no longer be easily altered

  3. Segwit allows Lightning to function bc Lightning relies on unconfirmed transactions and that would be extremely risky if someone could alter the tx id’s at will

  4. No. Soft fork

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#4117

1. What was a proposed alternative to Segwit?

Another alternative that Segwit introduced is called Block weight, its 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 transaction remains at 1MB.

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

It allowed anyone to change small details that modified the transaction id but not the content. It prevented the development of more complex features such as second-layer protocols and smart contracts.

3. How is Segwit and the Lightning network connected?

Segwit made it possible to support the development of second layer protocols, such as the lightning network. This will further boost bitcoins 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?

With the main bitcoin code also making segwit-friendly adjustments, this could lead to an uptick in both usage and additional functionality experimentation. As more wallets embrace the upgrade, the percentage of transaction that use segwit will increase, and bitcoin fees should drop as blocks contain a greater number of transaction.

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#4118
  1. What was a proposed alternative to Segwit?
    Increased block size, therefore hard fork of chain.
  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.
  3. How is Segwit and the Lightning network connected?
    Segwit makes second layer possible.
  4. Are people, wallets and other services forced to use Segwit?
    No, due to soft fork, old transactions and addresses can still be used.
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#4119

  1. What was a proposed alternative to Segwit?
    The proposed alternative to segwit was to increase the block size of bitcoin from 1 mb to 2mb and do the hard fork.

  2. What did Segwit solve more than just the scaling issue?
    Segwit solved two major problems of bitcoin. First it increased the number of transaction in the block and also solved the problem of transaction malleability in which user can change the transaction hash of unconfirmed transaction by changing small details on signature in the block. Segwit solved these problem by taking out digital signature from the block and putting it into extended block. This way bitcoin network was saved from forking.

  3. How is Segwit and the Lightning network connected?
    Segwit removed the transaction malleability problem from the bitcoin network. This problem was the main problem in the scalability of bitcoin and its adoption. Segwit opened the gateway for the second layer solution on the bitcoin network. As legacy bitcoin network can do 7 transaction per second which is much less than the visa network which can do roughly 20000 transaction per second. Lightning network developed a network upon the bitcoin network where users can open channels between them and can send and receive bitcoin without any fees between them. Some say that by using lightning network we can do a million transaction per second .

  4. Are people, wallets and other services forced to use Segwit?
    No people wallet and other services were not forced to use segwit. As it is soft fork both legacy and segwit can reside on same network. As segwit is more secure and due to block weight is more incentivised or lucrative for miners to use. So gradually all people , wallets and other services will upgrade to segwit.

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#4120

  1. Bitcoin cash = a hard fork of the btc network which chose to implement a larger block size.

  2. No longer possible to change the tx ID by changing a small detail in the tx (= tx malleability)

  3. Segwit allowed second layer protocols. On which the lightening network was built.

  4. No, old tx’s can be used because it’s a soft fork, but wallets are implementing the update.

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#4121
  1. increasing a block size
  2. Tx malleability
  3. Solving tx malleability by Segwit helped a lightning network to be implemented as well
  4. No.
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#4122

What was a proposed alternative to Segwit?
to increase the block size
What did Segwit solve more than just the scaling issue?
it solves tx malleability, thus making it no longer possible to change the tx ID
How is Segwit and the Lightning network connected?
segwit basically paved the way for the second layer solution. the lightening network is a network upon btc network that allows users to send and receive btc without any fees
Are people, wallets and other services forced to use Segwit?
no they weren’t. however, segwit is more secure and miners are incentivized more to use it

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#4123

  1. Increase in max Block size

  2. Tax malleability

  3. After segwith introduced the tx malleability fix, it allowed the development of 2nd layer protocols such as the lightning network.

  4. No, it is a soft fork and thus made compatible with the old chain rules.

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#4124

1. What was a proposed alternative to Segwit?

To extend the block size from 1MB to 2MB or even more.
This lead to a hard fork and the cryptocurrency Bitcoin Cash [BCH]

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

The transaction malleability, by removing the signature from inside of the block to the outside.
Lowered the fees.

3. How is Segwit and the Lightning network connected?

The making of second layer solutions. Due to segwit the lightning network became possible!

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

No, it’s currently free of choice, and the earlier older way of transactions can still be used.
Because older nodes are still on the network and follow the earlier protocol state.

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#4125

  1. Increasing the block size limit from 1MB to 2 MB.

  2. The bug in the bitcoin code called transaction malleability which allowed anybody to exploit it changing small details that modified the transaction id (and the subsequent hash) but not the content.
    This flaw prevented the development of more complex features such as second-layer protocols and smart contracts.
    The fix made any feature that relied on unconfirmed transactions less risky and easier to design.

  3. Segwit supported the development of the Lightning network.

  4. No, it is a soft fork and an optional feature.

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#4126

increase block size
it fixed transaction malleability
segwit makes a layer 2 possible
no people are not forced to use segwit but many choose to add it because of faster transactions and lower fees for users

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#4127
  1. What was a proposed alternative to Segwit?

A part of the Bitcoin community wanted to increase the block size from 1MB to 2MB.

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

They also fixed the transaction malleability. This means that transactions are now stored outside of the blocks without the signature. This was a bug in the Bitcoin protocol that allowed small details of the transaction signatures to be changed.

  1. How is Segwit and the Lightning network connected?

The segwit bug-fix now makes it easier to develop the lightning network on top of the bitcoin protocol. This is because since the malleability fix, unconfirmed transactions are less of a risk to the development of the lightning network and thus to bitcoin.

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

As it is a soft fork, no one has been forced to participate in the same network.

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#4128

  1. increasing block size.

  2. solved transaction malleability. storing the sigs outside of the transaction block.

  3. Segwit makes lighting network possible, adding second layer solutions.

  4. well, its a soft fork, so in a way yes and no. you can choose not too, but sooner or later you will probably have to or get left behind.

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#4129
  1. Increasing the block size limit
  2. Segwit also fixed the transaction malleability issue
  3. Segwit supported the creation of second layer protocols like the lightning network (by fixing the transaction malleability issues)
  4. No. Bitcoin cash was created as an alternative to the Segwit update (not everyone approved of the change)
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#4130

Increasing the block size. This would have lead to a hard fork and it would have not solved the problem entirely because eventually the new size would fall short to the demand.

Segwit also fixes the transaction malleability problem, which allows building Layer 2 solutions like the Lightning Network.

Segwit enabled the Lightning Network.

Segwit is a soft fork, meaning that it is backwards-compatible. Using the version prior to Segwit is still supported.

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#4131
  1. To increase the blocksize, which would cause a hardfork (like bitcoin cash). This would only be a temporary solution (given the adoption growth would increase as it did back then)
  2. Transaction malleability. It removed the signature out of the base block which prevented the transaction id to be changed
  3. Segwit paved an easier way for Layer2’s and smart contracts to be designed by reducing risk
  4. Nope, Segwit is a soft fork. The adoption goes a bit slower than expected, but eventually, we hope the adoption will catch up since it allows more features like layer 2 scaling to be developed
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#4132

  1. What was a proposed alternative to Segwit?
    Increased 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 the lightning network to boost BTC transaction capacity by keeping smaller transactions of-chain.

  4. Are people, wallets and other services forced to use Segwit?
    No, it is a soft fork

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#4133
  1. The proposed alternative was to increase the block size, which led to a fork, bitcoin cash.
  2. It solved the issue of transaction malleability.
  3. The lightning network is a second layer protocol that helps increase the bitcoin network’s transaction capacity with off chain transactions.
  4. No, people, wallets and other services can still take care of transactions under the old protocol.
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#4134
  • What was a proposed alternative to Segwit?
  • The proposed alternative was to increase the block size which has been made by Bitcoin cash who disagreed to the Segwit udpate.
  • What did Segwit solve more than just the scaling issue?
  • Segwit most importantly addressed the malleability issue.
  • How is Segwit and the Lightning network connected?
  • Lightning network has adopted Segwit update, which enables Layer 2 functionality possible on the lightning network.
  • Are people, wallets and other services forced to use Segwit?
  • No, but it is highly recommended to avoid the bitcoin malleability issue.
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