Segwit Reading Assignment

Blockchain and Bitcoin 101
#4236

What was a proposed alternative to Segwit?

Increasing the block size.

What did Segwit solve more than just the scaling issue?

The first intention was to fix a bug in the bitcoin code which we call ‘transaction malleability’. This helped to change small details that modified the transaction ID but not the content. It removes the signature information and stores it outside the base transaction block.
Without the signature info, there is less weight in transactions so it can more fit in a block. In other words, Segwit did not increase the block size but it enabled a greater number of transactions within the 1 MB blocks.

How is Segwit and the Lightning network connected?

Segwit supports the development of second layer protocols like lightning network. The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.

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

No, It was a soft fork so they still could use the older version.

1 Like
#4237
  • What was a proposed alternative to Segwit?
  • What did Segwit solve more than just the scaling issue?
  • How is Segwit and the Lightning network connected?
  • Are people, wallets and other services forced to use Segwit?
  1. Increasing block size
  2. Transaction malleability
  3. Created second layer solutions
  4. No since it is a soft fork
1 Like
#4238

  1. Bitcoin cash was created as an alternative fix to Segwit.

  2. It allowed for layer 2 protocols to be build and boosted development. block weight is also capped at 4MB while block size limit remained 1MB.

  3. Segwit soft fork update allowed for a second layer to be build on top of Bitcoin which was the lightning network. (Takes some small transactions off chain)

4.They are not forced to use Segwit but are highly encouraged to do so since it it has so many benefits to the network.

1 Like
#4239

  1. What was a proposed alternative to Segwit?
    Bitcoin cash was created as an alternative solution by increasing the block size limit.

  2. What did Segwit solve more than just the scaling issue?
    This update allowed for the development of later 2 protocols.

  3. How is Segwit and the Lightning network connected?
    The lightning network is an example of a layer 2 protocol that the update made possible.

  4. Are people, wallets and other services forced to use Segwit?
    Not at all. Since it is a soft fork, others were able to use older versions and some updated later.

1 Like
#4240

Segwit Reading assignment-

  1. Increasing block size above the current 1MB

  2. Transaction malleability

  3. It opened the door for lightning network and made it possible by allowing layer 2 protocols.

  4. No, because it was a soft fork.

1 Like
#4241

  1. A larger Block size.

  2. It also solved the transaction malleability issue.

  3. “The lightning network will further boost bitcoin’s transaction capacity by taking frequent, small transactions off-chain, only settling on the bitcoin blockchain when the users are ready.”

  4. People, wallets and other services are not forced to use Segwit, but many are adopting it.

1 Like
#4242
  1. Increasing block size
  2. Transaction ID malleability
  3. Segwit has enabled the ability to develop second layer protocols on Bitcoin such as the lightning network.
  4. No. Because it is a soft fork, not using it would still fall within the new rules of the protocol.
1 Like
#4243

What was a proposed alternative to Segwit?

  • Increasing the capacity of a single block

What did Segwit solve more than just the scaling issue?

  • In addition to allowing more capacity per block and solving for transaction malleability, segwit readied BTC for more complex features such as second layer protocols and smart contracts

How is Segwit and the Lightning network connected?

  • Segwit made possible further development of the technology as previous issues regarding tx malleability and limited block size prevented more complex functions

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

  • No, given that it is a soft fork however the adoption of segwit seems to be welcomed by major players who see its benefits far better than its limitations
1 Like
#4244

1.Block size increase
2. Segwit solves the transaction malleability
3.Segwit made second layer solutions possible.
4. No, old addresses and transactions can still be used. (Soft Fork)

1 Like
#4245

1/ What was a proposed alternative to Segwit?

  • a larger block size - for example up to 4mB as the fork ‘Bitcoin Cash’ went with

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

3/ How is Segwit and the Lightning network connected?

  • SegWit supports the development of second layer protocols, such as the lightning network. The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.

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

  • No - Resistance to SegWit was one of the factors behind the development of bitcoin cash, a fork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure.
1 Like
#4246

1. What was a proposed alternative to Segwit?

  • Segwit was proposed to increase the block size to 2MB.

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

  • Segwit also solved the malleability issue.

3. How is Segwit and the Lightning network connected?

  • Segwit allowed the development of the lightning network because Segwit fixed the malleability issue.

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

  • No, they are not forced to use Segwit because it is a softfork. Although it will probably update into it in the future.
1 Like
#4247
  1. What was a proposed alternative to Segwit? to increase block size
  2. What did Segwit solve more than just the scaling issue? it solved the issue of transacation malleability
  3. How is Segwit and the Lightning network connected? segwit made it so second layer solutions could be possible
  4. Are people, wallets and other services forced to use Segwit? nope not at all old adresses and transacations can still be used with (soft fork)
1 Like
#4248

  1. A hard fork where the block size was increased to 2 megabits

  2. It solved the mailability issue with the signatures being included in the transaction.

  3. No that the signatures are not included in the transaction, second layer solutions and protocols can be layered onto bitcoin.

  4. They are not forced, it was a soft fork.

1 Like
#4249

  1. What was a proposed alternative to Segwit?
    increase the transaction block size; developers were afraid of doing a hard fork.

  2. What did Segwit solve more than just the scaling issue?
    **there was another bug that was bothering the bitcoin community: TX malleability; where hackers can modify the signature inside the transaction, also affecting the hash and nonce of the transaction and cascading double spending or not identifying previous signatures of a transaction; **
    segwit removes the signature from the transaction blocks, allowing the same TX block space of 1MB to carry more transactions; decreasing the fees, and removing the TX malleability issue. Although, not everyones is happy with the segwit; some developers like segwit for improving the Lightning network to add L2 transactions; smart contracts into the btc blockchain.

  3. How is Segwit and the Lightning network connected?
    Segwit allow to have other type of transactions off-chain; this would allow lightning network to perform layer 2 protocol transaction such as smart-contracts

  4. Are people, wallets and other services forced to use Segwit?
    mostly not, since it is optional, wallet or any ledgers would work on the segwit feature; people would like to pay a lower fee for their transactions.

1 Like
#4250
  1. To just increase block capacity.
  2. Transaction malleability.
  3. SegWit solved security issues surrounding transaction malleability which allows for lightning to be implemented.
  4. No they are not, but choosing to not update they are choosing to separate to another community.
1 Like
#4251
  1. What was a proposed alternative to Segwit?

Increased block size.

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

Transaction malleability.

  1. How is Segwit and the lightening network connected?

The lightening network gives a boost to bitcoins transaction capacity by taking frequent small transactions off of the chain and only settling on bitcoin blockchain when users are ready.

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

No they are not forced to use Segwit.

1 Like
#4252
  1. What was a proposed alternative to Segwit?

To remove the signature portion of the transaction which would preserve memory space on the blockchain . This allows for the network to fit more blocks , it lowers fees and offers smoother transactions , as well as reduces security

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

In addition to solving for scaling solution , it addressed Problem of someone being Able to change the transaction ( an attack that can lead to hack and money loss) also know as malleability

  1. How is Segwit and the Lightning network connected?

Lighting Network is a 2nd layer solution ( originally implemented on Litecoin a test bed for bitcoin network) , sewgit would not be possible without it .

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

Its is not a protocol that is forced , it is however backwards compatible with the old protocol .

1 Like
#4253

1.What was a proposed alternative to Segwit?

Bitcoin Cash

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

It also solved the tx malleability by taking out signature information and storing it outside the block so no one can change any information using a script.

3.How is Segwit and the Lightning network connected?

Its connected by a second layer protocol.

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

No there not forced to switch because its not mandatory on soft forks.

1 Like
#4254

  1. What was a proposed alternative to Segwit?
    Bitcoin Cash is an alternative to Segwit that caused a harkfork in the bitcoin blockchain. Bitcoin Cash increased the block size limit from 1mb to 2mb.

  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 the development of second layer protocols.

  4. Are people, wallets and other services forced to use Segwit?
    No, Segwit was a softfork upgrade and not all of the network has started implementing it yet.

1 Like
#4255
  1. blocksize increase
    2.allowing layer 2 and transaction malleability
    3.segwit allowed layer two which is the lightning network
    4.no it is a soft fork
1 Like