Segwit Reading Assignment

Blockchain and Bitcoin 101
#562

  1. Proposed alternative was to increase block size from 1MB to 2MB.

  2. SegWitis solved that block size limit on a blockchain is increased by removing signature data from transactions. We can run there for smaller NODE’s. Also solved malleability and lower fees.

  3. It is solved by removing signature from block TX ID out and also an decrease size of TX block .

  4. No has not been forced due to the soft fork implementation. Old addresses can still be used for transactions.

1 Like
#563

1 What was a proposed alternative to Segwit?
Increasing the blocksize to 2mb which is what Bitcoin Cash is now.

2 What did Segwit solve more than just the scaling issue?
It fixed the important issue which is called transaction Malleability

  1. How is Segwit and the Lightning network connected?
    By enabling the layer-two protocol development

  2. Are people, wallets and other services forced to use Segwit?
    No, Segwit was a soft fork. You do see many services using the Segwit supports

1 Like
#564
  1. To increase the block size, however, it would result in a hard fork and would be only a temporary solution.
  2. Malleability issues, meaning to alter transaction details after have been sent.
  3. Segwit supports the development of second layer protocols, such as the lighting network.
  4. It is a soft fork, not mandatory to use.
1 Like
#565

  1. What was a proposed alternative to Segwit? - To increase a 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 supports development of second layer protocols such as Lightning network… With transactions malleability being fixed, it allowed other features that relied on unconfirmed transactions less risky and easier to design.

  4. Are people, wallets and other services forced to use Segwit? - No, because as a soft fork it is still compatible with old protocol.

1 Like
#566

  1. What was a proposed alternative to Segwit?
    A proposed alternative was an increase in block size.

  2. What did Segwit solve more than just the scaling issue?
    Maleabillity: posibility to change hash but not the content.

  3. How is Segwit and the Lightning network connected?
    Segwit update enables a second layer protocol. Such is also Lightning network.

  4. Are people, wallets and other services forced to use Segwit?
    No because it was a soft fork. Meanwhile around 40% of all transactions use Segwit protocol.

1 Like
#567

  1. The alternative was to increase the block size.

  2. Segwit also solved the TX malleability issue.

  3. Segwit supports the development of second layer protocols which allow the lightning network to operate.

  4. No. Non Segwit wallets can still send to Segiwit addresses. Segwit does not have to be used by others although many are adopting it.

1 Like
#568

Segwit Reading Assigment - Questions

  1. What was a proposed alternative to Segwit?
  2. What did Segwit solve more than just the scaling issue?
  3. How is Segwit and the Lightning network connected?
  4. Are people, wallets and other services forced to use Segwit?

1- Increase the size limit of the blocks.
2- Mainly solve the malleability issue.
3- It open te door to development of second layer applications that relays
on unconfirmed transactions, supporting Lightning Network.
4- No, because of the nature of a softfork.

Español

Tarea de lectura sobre Segwit - Preguntas

  1. ¿Qué se propuso como alternativa a Segwit?
  2. ¿Qué fue lo que Segwit resolvió más allá del problema de
    escalabilidad?
  3. ¿Cómo es que Segwit y Lightning Network están conectados?
  4. ¿Son personas, billeteras y otros servicios son obligados a usar
    Segwit?

1- Aumentar el tamaño límite de los bloques.
2- Resolvió el problema de la maleabilidad de transacciones.
3- Abrió la puerta a aplicaciones que dependen de transacciones no
confirmadas, soportando el desarrolo de protocolos de segunda capa
como Lightning Network.
4- No, pues dada la naturaleza del softfork sigue las reglas desde antes
de la actualiación.

1 Like
#569
  1. Block size increase to 2MB
  2. Bitcoin’s then Malleability weakness of permitting changes to the transaction signatures after transactions had already been processed
  3. Segwit enables Bitcoin to support layer two solutions like Lightening Network
    4).No, it is backward compatible i.e. transactions from non upgraded nodes can still be processed by the network (i.e its a soft fork)
1 Like
#570
  1. Increase block size.
  2. It solved transaction malleability which makes for a more secure network.
  3. It enables a second layer solution.
  4. No.
1 Like
#571

Glenn_CostaRica

1. What was a proposed alternative to Segwit?
An alternative was to increase the blocksize.

2. What did Segwit solve more than just the scaling issue?
Segwit solved primarily the problem of transaction malleability, a condition that the Bitcoin network used to have due to the fact that the data of the digital signature for a transaction was included in the block together with the transaction data. Malicious actors were able to hack the data of the digital signature to make it look like a payment had not been done, even if the payment was solidly consolidated. By doing so, bad actors, could ask for double payments from people which resulted in scams. By taking the data related to the digital signature out of the block, Segwit solved this issue which resulted in a higher security.

3. How is Segwit and the Lightning network connected?
If digital signatures were still included for each transaction, the Lightning Network would be exposed to high risks, to a level in which it might be even impossible to get any adoption on this sidechain. The Lightning Network uses regular transactions as a settlement mechanism to consolidate large numbers of series of transactions into one single final transaction. If Segwit had not been implemented, the settlement of the result for a large number of transactions – as it takes place in one transaction of the Lightning Network consolidated on the main chain – would be extremely exposed to scams, and the Lightning Network would be victim of immense losses.

4. Are people, wallets and other services forced to use Segwit?
People, wallets and any services that uses Bitcoin is not really forced to use Segwit, since it a softfork. People choose if because it is enormously beneficial for the whole network. Besides generating a lot more protection for users, Segwit makes it possible to include a lot more transactions in one block by removing data that is not crucial. As most of the community has welcomed Segwit, it has been predominating.

1 Like
#572

  1. To increase the allowed block size.Those who did not want to go onboard with the soft fork, created a hard fork, Bitcoin Cash, which does exactly that which was originally proposed, which is to allow for higher than 1Mb transactions per block.

  2. It fixed the transaction malleability bug by removing the signature information aka “witness” component previously needed to create the transaction id aka “hash.”

  3. Segwit allows for the use of the lighting network in order to allow for faster transactions and lower fees. This was not possible before the soft fork took place.

4 ) No. At the time the article was written, platforms like coinbase were developing the process of implementing the soft fork. By today, 2020 most wallets already are using it.

1 Like
#573

  1. An alternative proposal for Segwit was increasing block capacity

  2. Segwit solved the issue of transaction Malleability as well as the scaling issue

  3. Segwit allowed for development of 2nd layer protocols such as the lightening network which will further help bitcoins scaling

  4. Not everyone was happy with Segwit and therefore can migrate to the fork BCH, which was a hard fork increasing capacity limit

1 Like
#574
  1. What was a proposed alternative to Segwit?

Increasing block size limit, which led to the hardfork of Bitcoin Cash

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

Segwit also solved transaction malleability by removing signatures from the block itself.

  1. How is Segwit and the Lightning network connected?

Segwit and the lightening network are connected by segwit making features that rely on unconfirmed transactions less risky and more design friendly.

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

No, Segwit is a soft fork and no one is forced to use the segwit protocol.

1 Like
#575

  1. Increasing the block size —> Bitcoin Cash hardfork

  2. It solved problem of transaction malleability

  3. Segwit was the bases for lighting, because it solved the issue with malleability

  4. No, its a softfork

1 Like
#576
  1. What was a proposed alternative to Segwit?
  • bigger blocks
  1. What did Segwit solve more than just the scaling issue?
    -maliability
  2. How is Segwit and the Lightning network connected?
    -Segwit simplifies TX allowing more complex solutions such as snorsignitures and lightning
  3. Are people, wallets and other services forced to use Segwit?
    -no, but are slowly adopting it
1 Like
#577

Q1: to increase the block size to make more TX’s fit on each block.

Q2: transaction malleability bc it removed the signature data from the block preventing the recipient from altering it for their own benefit

Q3: Segwit helped pave the way for lightning bc it fixed TX malleability and opened the door for more experimentation

Q4: no it was a soft fork that incentivized people to update in return for faster TX times and lower fees

1 Like
#578

1.-
Increase of the block size.
2.-
It fixes a bug called transaction malleabilty
3.-
They both help to speed transactions and lower fees.
4.-
They aren’t. In fact some hard forks were made because lack of consensus and some new coins like Bitcoin Cash, and Bitcoin Gold were born because of that.

1 Like
#579
  1. What was a proposed alternative to Segwit? Increase the Block Size
  2. What did Segwit solve more than just the scaling issue? It solved the malleability issue by removing the signature from the base block transaction. By doing this it also helped to lower transaction fees
  3. How is Segwit and the Lightning network connected? The Lightning network is a second layer solution that is built on top of the bitcoin network via Segwit
  4. Are people, wallets and other services forced to use Segwit? No Segwit is a soft fork so you can choose to adopt segwit or not.
1 Like
#580

  1. Block size increase

  2. transaction malleability

  3. lightning network is a second layer protocol which was made possible by segwit

  4. no it is a soft fork update

1 Like
#581

Increasing the block storage/size (for example from 1MB to 2MB)

They solve the problem with TX Malleability. So now it doesn’t matter if one slightly change the signature, because it is stored outside the actual transaction.

Segwit make a second layor possible.

No they are not forced. It is a soft fork update. But when 100% use Segwit the transactions fee will be reduced, higher speed etc. According to the majority it will make Bitcoin better in the end, when everyone “follow” the Segwit update.

1 Like