Segwit Reading Assignment

Blockchain and Bitcoin 101
#4155
  1. Some people wanted to increase the block size rather then implement segwit. Bitcoin cash is a result of the blocl size increase.

Segwits main purpose was to fix the transaction malleability bug in bitcoin which caused the transaction ID and hash to change even when making minor changes to the transaction.

  1. Segwit enables bitcoin to support the lightening network easily because it solved the transaction malleability issue so second layer solutions would be more secure.

  2. No one is forced to use segwit however major players in the bitcoin community use segwit already.

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#4156

What was a proposed alternative to Segwit?
Making the Blocksize bigger from 1MB to 2MB,…
What did Segwit solve more than just the scaling issue?
it fixed also a bug in the BTC code, called malleability, this allowed anybody to change small details in the tr id but not the content of the transaction.
How is Segwit and the lighting network connected?
it made it possible to more complex features, such as second layer protocols and smart contracts.
Block weight is a mashup of the block size with an d without the sign data capped at 4 MB while the block size limit for the base transactions remains 1 MB
Segwit also supports the second layer protocols, it made any feature that relied on unconfirmed Tx’s less risky and easier to design.
Are people, wallets and other services forced to use Segwit?
No they aren’t, but more will integrated it by time. but like BTC cash chose to make the block size bigger instead of relying on a new Tx structure.

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#4157
  1. A proposed alternative to Segwit is to increase the block size.
  2. Segwit solved more than the scaling issue because by removing the signatures from the tx ID it also created a solution for tax malleability.
    3.Segwit and the Lightning network are connected because Segwit made it possible to support second layer solutions like Lightning network.
  3. Other people and services are not forced to use Segwit because it was a soft fork, and its one of the reasons a hardfork was created leading to Bitcoin Cash.
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#4158
  1. Block size increase.
  2. Transaction maliability
  3. Segwit made lightning network possible
  4. No , old transacions can be used too because its a soft fork.
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#4159
  1. What was a proposed alternative to Segwit?
    increase block size to 4MB
  2. 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. With that, signatures and scripts can be changed without affecting the transaction id.
  3. How is Segwit and the Lightning network connected?
    lightning network will take small and frequent off chain when it is ready for it.
  4. Are people, wallets and other services forced to use Segwit? yes
#4160

No, segwit is a soft fork, meaning that it is compatible with the old chain rules.

#4161
  1. A proposed alternative to SegWit was an increase in block size which also lead to a hard fork, Bitcoin Cash.
  2. SegWit solves the transaction malleability and lower fees along with supporting a second layer solution.
    3 SegWit supports the second layer solution which is the lightning network.
  3. No, it is a soft fork, however, wallets are adding SegWit support.
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#4162
  1. What was a proposed alternative to Segwit? A block size increase.
  2. What did Segwit solve more than just the scaling issue? Transaction malleability and lower fees
  3. How is Segwit and the Lightning network connected? Segwit makes second layer solutions possible.
  4. Are people, wallets and other services forced to use Segwit? No, but once it reaches 95% it will be the only way forward.
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#4163
  1. to increase the blocksize
  2. long term it will reduce the cost of fees and solves the transaction malleabilty
  3. it allows for a second layer solutions
  4. no because it is a softfork
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#4164

1.increase of block size.
2. by removing the signature and placing it outside of the base TX it stopped TX malleability.
3. Segwit supports the development of second layer protocols like the lighting network.
4. no they are not

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#4165
  1. The proposed alternative to Segwit was to increase the blocksize.
  2. Segwit solved the problem in transaction malleability. This ensured the hash of the tx could not be altered by changing the signature because the signate had been removed from the tx.
  3. Segwit solved the Tx malleability issue which allowed second layer protocols like the lightning network to be built on it.
  4. They are not forced to use it because it was a soft fork which allows the network to still use pre segwit Tx.
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#4166

  1. An alternative solution to Segwit was to simply increase the block size limit to avoid relying on a new transaction structure, creating a hardfork that led to the creation of Bitcoin Cash.

  2. Segwit also solved the issue of transaction malleability, making it harder for scammers to tamper the unique hash of the Transaction ID through small alterations in the witness data, which is kept separate in Segwit.

  3. Fixing the transaction malleability issue through Segwit also paved the way for the lightning network to develop, allowing parties to handle unconfirmed transactions more securely - since witness data no longer influences transaction IDs - until they are ready to settle the net balance on the blockchain network; thereby increasing the transaction capacity of the network.

  4. No, there is no mandate to use Segwit; in fact it’s quite the opposite for there are still so many companies and wallets that haven’t updated for Segwit capability. And because it is a soft fork where the old protocol can still be applicable, there hasn’t been any issue with validating transactions through the original rule set within Segwit’s rule set.

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#4167

  1. What was a proposed alternative to Segwit?
    An alternative was to increase the block size limit. Those who did not agree with Segwit forked into Bitcoin Cash etc.

  2. What did Segwit solve more than just the scaling issue?
    It solved the transaction malleability bug.

  3. How is Segwit and the Lightning network connected?
    By fixing the transaction malleability problem, Segwit allowed second layer protocols like the Lightning network to develop.

  4. Are people, wallets and other services forced to use Segwit?
    No, they are not forced, but at the moment the Segwit adoption is over 80% of the wallets.

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#4168

1 - A proposed alternative was raising the block size limit to 2MB / 4MB.

2 - It solved the malleability issue as well.

3 - Segwit supports 2nd layer development and Lightning is a 2nd layer protocol.

4 - No, they are not forced to use Segwit as they could use Bitcoin Cash. But as more wallets & services embrace it, then more people will too.

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#4169
  1. What was a proposed alternative to Segwit?

To increase the blocksize to 2MB.

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

By removing the signature from the block, it also solved the malleability issue.

  1. How is Segwit and the Lightning network connected?

Lightning network relies a lot on unconfirmed transactions. The malleability fix made any feature that relied on unconfirmed transactions, like LN, less risky and easier to design.

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

No, old addresses and txs can still be used as it was a soft fork.

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#4170

  1. What was a proposed alternative to Segwit?
    Increase the blocksize from 1mb to 2mb which could lead to a hard fork

  2. What did Segwit solve more than just the scaling issue?
    it solved the malleability issue where the receiver would be able to change his signature as well as it allowed more transactions inputs and outputs to enter the block reducing tx fees in the process

  3. How is Segwit and the Lightning network connected?

Segwit helps develop second layer protocols like the lightning network

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

No, although several exchanges adopted segwit you can still use old addresses since segwit was a soft fork. But it did create a Hard Fork because the bitcoin community that did not support segwit preferred to have larger block sizes through the creation of bitcoin cash

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#4171

  1. A proposed alternative to segwit was an increase in block size. This would be done using a hard fork.

  2. Segwit also ended transaction malleability leading for the ability for second layer projects and smart contracts to be developed on top of the network.

  3. Lightning network is only possible because segwit allows it to be.

  4. Not all services are forced to, it is a soft fork.

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#4172

Q1. What was a proposed alternative to Segwit?
A. Rather than changing the transaction structure within a block to make it ‘weigh’ less, the alternative was to increase the block size limit, which was implemented in the hardfork that created Bitcoin Cash.

Q2. What did Segwit solve more than just the scaling issue?
A. Aside from solving Bitcoin’s scaling problem, the initial purpose of Segwit was to address ‘transaction malleability’, where the recipient of a transaction could easily alter the digital signature of a transaction and therefore the hash ID without changing the basic transaction data. By removing the signatures from each block, the Segwit update addressed such fraudulent activitiy.

Q3. How is Segwit and the Lightning network connected?
A. The ‘lightning network’ is Bitcoin’s attempt to build a second layer on the basic blockchain for additional protocols and smart contracts. Segwit aided the development of the lightning network by separating signatures from transaction data, making unconfirmed transactions easier and less risky and thereby improving security for the implementation of smart contracts.

Q4. Are people, wallets and other services forced to use Segwit?
A. The Segwit update was a backwards-compatible softfork. Blocks can still contain signatures in the old way and implementation has been slow but the incentives for wallets using Segwit Support are high.

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#4173
  1. block size increaseing
    2.Transaction malleability
  2. segwit made lightning network applicable.
    4.No
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#4174
  1. What was a proposed alternative to Segwit? Simply increasing the block size
  2. What did Segwit solve more than just the scaling issue? The transaction Malleability issue
  3. How are Segwit and the Lightning network connected? Segwit made unconfirmed transactions less risky and enabled the development of second layer portals
  4. Are people, wallets, and other services forced to use Segwit? No
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