Segwit Reading Assignment

Blockchain and Bitcoin 101
#502
  1. Make the Block size bigger.
  2. TX Malleability by placing the signature outside of the Block saving space and increasing process time.
  3. The lightening network employs the segwit protocol in order to work.
  4. No, the old protocol is is still available.
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#503

Segwit homework assignment

What was a proposed alternative to Segwit?
An other proposal was to increase the blocksize to 2MB per block, however this was viewed as a short therm solution.

What did Segwit solve more than just the scaling issue?
Also the issue with malleablility, the way you can change the signature of a transaction in order to make it impossible for the sender to find his transaction on the blockchain.
This has been made impossible by the update, because now the signature is no longer affecting the transaction.

How is Segwit and the Lightning network connected?
Segwit made it possible for people to trust in the lightning network, because now this malleability was no longer a threat for your transaction.
This made second layer solutions, like the lightning network saver to explore further.

Are people, wallets and other services forced to use Segwit?
No, it was a soft fork. But if you did not support Segwit, you could support Bitcoin Cash. It was created because of Segwit.

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#504
  1. Increase the size of the bock.
  2. Segwit solves the transaction malleability.
  3. Segwit makes second layer possible.
  4. No, it is compatible with the old protocol
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#505
  1. Block size increase to 2MB
  2. The malleability bug.
  3. SegWit supports second-layer protocols like Lighting Network
  4. No, it’s a softfork
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#506
  1. to use a bigger size of Block
  2. solving Tx Mall by removing the signature part inside of the block to be outside of the block
  3. by having a second layer protocol outside the block
  4. not really, people may still chose to proposed and run other solution in the hard fork way, the wallets will just tend to find the more reasonable Tx Fee, other service can just make their own currency if they refuse by follow the hard fork as an alternative proposal
#507

Screenshot 2020-05-03 at 18.10.09
Screenshot 2020-05-03 at 18.10.091628×1310 404 KB

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#508
  • What was a proposed alternative to Segwit? >> to double the block size to 2MB
  • What did Segwit solve more than just the scaling issue? >> to store the signature data outside of the transaction, prevents manipulating the hash by changing the signature
  • How is Segwit and the Lightning network connected? >> lightning also speeds up transactions by managing small transactions on al separate layer above
  • Are people, wallets and other services forced to use Segwit? More transactions per block speeds up the network so everybody should implement Segwit, but it is a soft fork so nobody gets forced to change to segwit
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#509

  1. Block size increae - 2MB must popular suggestion

  2. The transaction mallability bug - a bug where you by changing something in the signature included in the transaction area where able to achieve double spending. By putting the transaction signature in a separate data area - not included in the block, this was no longer possible

  3. Lightning network bases itself on unconfirmed Bitcoin transactions, and with the mallability bug, there was a serious risk that this bug would be transmitted into the lightning network

  4. No - Seqwit is a soft fork

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#510
  1. What was a proposed alternative to Segwit?
    A fork of the bitcoin network which chose to implement a larger block size limit.
  2. What did Segwit solve more than just the scaling issue?
    It solved the transaction malleability issue, by removing signature from the block’s tx id.
  3. How is Segwit and the Lightning network connected?
    Segwit supports the development of second layer protocols, such as the lightning network.
  4. Are people, wallets and other services forced to use Segwit?
    No, it was a soft fork.
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#511

  1. A hardfork where you would increase the block size data from 1 mb to 2 mb

  2. They solved the tx malleability which removed the possibility of hacking the sign in the transaction id and therefore increasing the security in the transactions.

  3. Segwit supports another layer of the bitcoin protocol named Lightning Network where payments are done instantaneously between two parties with little-to-low fees. It was created to help solving the scaling issue. It exists on other cryptocurrencies as well.

  4. No. They are compatible with the old protocol since it was a soft fork.

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#512
  1. Increased block size
  2. Tx malleability
  3. Lightning is second layer protocol on top of segwit.
  4. No. It was a soft fork
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#513
  1. increase block size
  2. also allowed development of MAST which enables complex bitcoin smart contacts
  3. second layer protocol
  4. No
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#514
  1. What was a proposed alternative to Segwit? Increasing the Blocksize
  2. What did Segwit solve more than just the scaling issue? It solved an issue with transaction malleability.
  3. How is Segwit and the Lightning network connected? They both slim down the size of the blockchain
  4. Are people, wallets and other services forced to use Segwit? No
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#515

  1. Proposed alternative to segwit was to increase the block size from 1mb to 2mb (which would have required a hard fork and would have had other issues, like longer confirmation times, more stale blocks, etc)

  2. Segwit also fixed the one bug in bitcoin. Transaction malleability. or in financial terms: ANTI FRAUD. Before segwit it was technically possible to change Sig ID in a received transaction, resend into the network and effectively ask for that payment again getting 2 payments - (fraud).

3.Segwit - fixing the malleability issue, then also allows other layer solutions to work or be implemented, like Lightning network.

  1. NO, wallets, etc without segwit can still work but they will work better and allow other features once they are all upgraded, in time, to include segwit
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#516
  1. it was to increase the block size .
  2. segwit enable a greater number of transactions in Bitcoin’s blocks .while fix a bug in the Bitcoin’s code called transaction malleability , this flow allowed anyone to change small details that modified the transaction id.
  3. segwit made the lighting network possible , the malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design .
  4. it does not , but it helps to have it to move forward .
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#517

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

  • What did Segwit solve more than just the scaling issue?
    Signature malleability

  • How is Segwit and the Lightning network connected?
    It created ability for faster transactions.

  • Are people, wallets and other services forced to use Segwit?
    Yes and no. To stay on bitcoin they use segwit and rely on signature to be stored elsewhere, or have changed to bitcoin cash

#518

  1. What was a proposed alternative to Segwit?
    A fork of the bitcoin network which chose to implement a larger block size limit rather than rely on a new transaction structure. The fork was Bitcoin Cash.

  2. What did Segwit solve more than just the scaling issue?
    SegWit’s initial intention was to fix a bug in the bitcoin code called transaction malleability. This flaw allowed anyone to change small details that modified the transaction id (and the subsequent hash) but not the content. 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?
    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.

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.

  1. Are people, wallets and other services forced to use Segwit?
    No, old transactions can be used (soft fork). However, making SegWit-friendly adjustments, this could lead to an uptick in both usage and additional functionality.
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#519
  1. What was a proposed alternative to Segwit?

Increase the block size.

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

The transacction malleability.

  1. How is Segwit and the Lightning network connected?

Lightning network is a second layer solution on top of the Bitcoin protocol.

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

No, old transactions are still compatible.

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#520
  1. increasing the block size like bitcoin cash did
  2. it supports other protocols as well such as lightning network and other features
  3. takes small information off chain and provides them when the users are ready @filip - What does that mean “when the users are ready” ?
  4. Not sure actually @filip People in the section are answering that this is “soft fork”, but I do not think so, because bitcoin cash was born out of it. For me it sounds like a hard fork… Pls advice!
#521
  1. What was a proposed alternative to Segwit?
    Remove the signature from the block
  2. What did Segwit solve more than just the scaling issue?
    TX malleability
  3. How is Segwit and the Lightning network connected?
    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, you can always go to bitcoin cash crap hard fork whenever you want
1 Like