Segwit Reading Assignment

Blockchain and Bitcoin 101
#4195

Hi everyone,

  1. A proposed alternative was the implementation of a larger block size limit, which is a hard fork.
  2. Segwit solves the transaction malleability issue. By keeping the signature separate, it is made sure that one can not change the transaction ID when changing the signature.
  3. Segwit enabled the development of second layer protocols, as the lightning network.
  4. They are not forced, it is a soft fork. At the time the article was written, only 14% of transactions were already using the new format.
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#4196

  1. Increasing the block size

  2. Segwit also solved the issue of Transaction Malleability.

  3. Segwit made the Lightning Network Possible.

  4. No they are not forced to use Segwit because it was a soft fork.

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#4197

  • What was a proposed alternative to Segwit?
    Increasing transaction block size- as implemented in Bitcoin Cash

  • What did Segwit solve more than just the scaling issue?
    Transaction malleability- which was a bug that could allow changing of the witness information was a security risk

  • How is Segwit and the Lightning network connected?
    Segwit makes the Lightning network possible by supporting faster transactions and the ability to take transactions offline (offchain)

  • Are people, wallets and other services forced to use Segwit?
    No, they are not. Many implementations are in development

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#4198
  1. What was a proposed alternative to Segwit?

Increasing the blocksize to 2 MB, which is a hardfork

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

Transaction malleabilty. The ability to change tx signatures, which result in different outputs.

  1. How is Segwit and the Lightning network connected?

Segwit enables second layer protocols, such as lightning network. It supports faster transactions and the option to take transactions offchain. So the smaller transactions stay out of the chain.

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

no, they still can use old protocol, they are not forced to use it. It was a soft fork.

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#4199
  1. What was a proposed alternative to Segwit?
    It was proposed to increase the block size that was seen by most as temporary solution
  2. What did Segwit solve more than just the scaling issue?
    The core of the solution helped to decrease the TX size and It has also solved TX mall.
  3. How is Segwit and the Lightning network connected?
    Segwit made the second layer solution possible - lightening network. Together it can make faster and more transactions.
  4. Are people, wallets and other services forced to use Segwit?
    No, It is compatible with the old versions
2 Likes
#4200

  1. What was a proposed alternative to Segwit?
    Increase in block size.

  2. What did Segwit solve more than just the scaling issue?
    Transaction Malleability, unable to alter the transaction id.

  3. How is Segwit and the Lightning network connected?
    Segwit was able to support second layer solutions which is the lightening network.

  4. Are people, wallets and other services forced to use Segwit?
    No

2 Likes
#4201
  1. What was a proposed alternative to Segwit?
    Increasing the block size. The bitcoin cash choose this way.
  2. What did Segwit solve more than just the scaling issue?
    The issue with transactions malleability (possibility to change signature and result transaction hash/id)
  3. How is Segwit and the Lightning network connected?
    It was enable possibility to work with the lightening network because the malleability fix provides secure way to produce the unconfirmed transactions.
  4. Are people, wallets and other services forced to use Segwit?
    No people wasn’t forced.
1 Like
#4202

  1. Bigger Block Size

  2. Now you can have second layer solutions and the transaction malleabillity that changed the hash but not the content problem was fixed

  3. Because it allows now second layer solutions and lightning is one of them

  4. No but wallets adding segwit support

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#4204
  1. Increasing the block size.
  2. Transaction malleability.
  3. The lightning network is layer 2 solution for Bitcoin transactions.
  4. No, soft forked.
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#4205

It’s time for a reading assignment about Segwit. Read through the following article https://www.coindesk.com/information/what-is-segwit , and answer the following questions.

  1. What was a proposed alternative to Segwit?
  • The proposed alternative was to increase the size block of Bitcoin.
  1. What did Segwit solve more than just the scaling issue?
  • Segwit solves the scaling issue and most importantly the transaction malleability.
  1. How is Segwit and the Lightning network connected?
  • Because of Segwit, a second layer protocol on top of Bitcoin such as lightning network is able to be done, whereby certain transactions can be done off-chain first before confirming on the main chain. This has increased the speed of the bitcoin network and also its usability.
  1. Are people, wallets, and other services forced to use Segwit?
  • No they are not, but there has been increasing adoption due to the mentioned improvement.
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#4206
  1. The alternative to Segwit (reducing transactions size) was to increase the block size which led to Bitcoin Cash.
  2. When removing the Signature or Witness from the transactions, the malleability of the signature could no longer alter the transaction ID and prevented those attacks.
  3. The lightning network is a second layer protocol that takes frequent small transactions off-chain until the users are ready to add them.
  4. SegWit isn’t forced as it relied on wallets and exchanges to implement the upgrade.
1 Like
#4207
  1. What was a proposed alternative to Segwit?
    An increase in the block size from 1 MB to 2 MB or more.
  2. What did Segwit solve more than just the scaling issue?
    It fixed a bug in the bitcoin code called transaction malleability
  3. How is Segwit and the Lightning network connected?
    SegWit supports the development of second layer protocols and as such, the lightning network could be buit on top.
  4. Are people, wallets and other services forced to use Segwit?
    Not at all. Soft forks are backward-compatible.
1 Like
#4208
  1. What was a proposed alternative to Segwit?

Increasing the block size more than 1MB (This will cause the hardforks)

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

Segwit solved a bug called transaction malleability. Changing the signature allowed to change the transaction id (hash). Therefore, scammers claimed as if the transaction was failed after it has been completed successfully.
Segwit also supports the development of second layer protocols, such as the lightning network which leads to cheaper transaction fees.

  1. How is Segwit and the Lightning network connected?

Segwit enables to separate signature with transaction id and its content (second layer protocols). The block no longer needs to store the signature information. As a result, more and more transactions fit in a block which lead to the lighting network!

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

People are not forced to use Segwit. A lot of wallets are currently adapting the transaction approach.

1 Like
#4209
  1. Increasing the block size.
  2. Transaction Malleability problem.
  3. Segwit makes the lightning network that depends on unconfirmed transactions less risky and easier to design.
  4. It was a soft fork, so no force.
1 Like
#4210

What was a proposed alternative to Segwit?
Increase the block size

What did Segwit solve more than just the scaling issue?
Maleability of the signature preventing changes in the transaction hash.

How is Segwit and the Lightning network connected?
Segwit elimates the maleability problem making unconfirmed transactions less risky and easier to design.

Are people, wallets and other services forced to use Segwit?
No

1 Like
#4211
  1. What was a proposed alternative to Segwit?
    [Ans] To increase the block size instead of removing the signature(or witness)
  2. What did Segwit solve more than just the scaling issue?
    [Ans] Additionally it helped to fix the transaction malleability issue. Even segregating the signature it facilitated additional use cases such as Second Layer protocols and Smart Contract. It also lead to reduce the Transaction fee as more number of transaction can be included in single block.
  3. How is Segwit and the Lightning network connected?
    [Ans] Lighting network is second layer network built on Segwit that helped in improving the transaction capacity
  4. Are people, wallets and other services forced to use Segwit?
    [Ans] Its a choice and depends on usage and mass adoption.
1 Like
#4212

  1. Larger block sizes which was met with a greater number of people being opposed to it.

  2. It solved the transaction malleability issue which used to include the signatures in the transaction block. Having the signature within the block allowed for small adjustments in the signature by potential attackers who could then manipulate the tx(s) for their benefit. Removing the signature so that it would segregated from the tx details and hash meant that the txs details were no longer at risk of being altered.

  3. Removing signatures from the tx block not only made the tx weight lighter, it also removed a lot of risk of those that allow faster, zero conf txs such as Lightning.

  4. No.

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#4213
  1. An increased block size.
  2. It It supports the development of second layer protocols. It also boosted development work on features such as MAST.
  3. The lightning network boosts bitcoin’s transactions capacity.
  4. By the sounds of it there’s been no enforcement of Segwit.
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#4214
  1. Increasing the block size causing and hard fork (this happened with Bitcoin Cash I think)
  2. transaction malleability attack
  3. Lighting network is a layer 2 solution that can only be implemented on top of segwit
  4. No
1 Like
#4215
  1. What was a proposed alternative to Segwit?
    Increasing block size
  2. What did Segwit solve more than just the scaling issue?
    By removing signatures from the hashed transaction, transaction malleability was decreased making transactions even more secure.
  3. How is Segwit and the Lightning network connected?
    Lightning network operates on top of the Bitcoin network, not possible without Segwit
  4. Are people, wallets and other services forced to use Segwit?
    No, Segwit is still compatible with the former protocol
1 Like