Segwit Reading Assignment

Blockchain and Bitcoin 101
#1126

  1. Increasing block size.

  2. The malleability problem. Its no longer possible to change the tx id before confirmation and claim that the transaction have not found place.

  3. Lightning is a second layer solution supported by segwit.

  4. No, its a soft fork.

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#1127
  1. Was proposed to increased Block Size
  2. Segwit solves not just scaling issues, but also enables a greater number of transactions within the 1mB blocks.
  3. Segwit supports Lightning network
  4. Because its Soft Fork ,nobody is forced to use it, however wallets are supporting Segwit.
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#1128

  1. increasing the block size for each block

  2. it solved the mallebility problems

  3. segwit creates a second layer on which this can be built

  4. they are not, as it is a soft fork. (but most likely 90% of the nodes will agree eventually)

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#1129

Not exactly :slight_smile: one could change the transaction id and make you think he didn’t receive the funds. :slight_smile:

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#1130

That is true that the creation of BCH was impart due to implementation of segwit. But you are also not forced to use segwit transactions on Bitcoin, old style transactions still work :slight_smile:

2 Likes
#1131

It didn’t remove signatures from the transaction :slight_smile: though they are included in a block so its kind of correct :stuck_out_tongue:
Also the lightning network is not used to send unconfirmed transaction, but it does rely on them to some extend to work :slight_smile:

Not really. The time between blocks remained the same. But it did reduce the size of tx so your transaction requires a lower fee to be accepted :slight_smile:

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#1132

Segwit enabled second layer solutions :slight_smile:

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#1133

It also solved the transaction malleability issue :slight_smile:

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#1134
  1. Block size weight increase.
  2. The issue of transaction malleability. Enable greater number of TX with the 1mb.
  3. Lightning network and Segwit connected - It supports the development of second layer protocols.
  4. NO, not forced but Segwit will make the TX fees drop, faster and percentage of TX will increase.
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#1135

" It didn’t remove signatures from the transaction though they are included in a block so its kind of correct "
A: I was too general in my original answer. I understand that the sigs are still part of the txo, and that they are “removed” to a separate block in order to free up room for more txo’s to be included in the original block.

"Also the lightning network is not used to send unconfirmed transaction, but it does rely on them to some extend to work "
A: my understanding of the lightning network is that, without going into detail, only 2 transactions are added and confirmed in the blockchain, the beginning and end of a smart contract. Every transaction within the contract is conducted in the “payment channel” off-chain, which, by Bitcoin definition, would be “unconfirmed” txo’s. As I understand it, you are technically correct. Thanks for the reply! They prompted me to do a deeper dive on the intricacies of the lightning network and it’s operation.

"Not really. The time between blocks remained the same. But it did reduce the size of tx so your transaction requires a lower fee to be accepted "
A: Thank you for correcting me on this one. Segwit obviously comes with lower fees as more txo’s can be included in blocks. I believe my thought process was that my individual txo might happen quicker due to blocks being able to hold more txo’s. Overall network time intervals between each mined block is unchanged.

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#1136

  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?

  5. Bitcoin Cash

  6. Malleability (second layer protocols)

  7. Lightning takes small transactions off-chain until users are ready

  8. No

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#1137

  1. What was a proposed alternative to Segwit?
    Increase block size to 2 MB like BCH did producing a hard fork

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

The ability to change the signature solving the malleability bug in BTC code reducing the risk of tampering blocks

  1. How is Segwit and the Lightning network connected?

By moving signatures off the block the solution gave way to a second layer protocol that happens off chain

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

Not forced but adopting such protocol fast to increase transaction throughput

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#1138
  1. A proposed alternative to Segwit was to simply increase the block size to fit more transactions. This is why the hard fork of Bitcoin Cash happened.
  2. In addition to solving the scaling issue, Segwit solved the transaction malleability issue.
  3. Segwit and the Lightning Network is connected since the Lightning Network relies on unconfirmed transactions, and transaction malleability made it risky to have a great number of unconfirmed transactions in the network. This problem was solved by Segwit by moving transaction signatures off-chain.
  4. No one is forced to use Segwit, since it is a soft fork.
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#1139
  • What was a proposed alternative to Segwit?

Increasing the MB on the block was proposed as an alternative to SEGWIT.

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

SEGWIT solved the issue of malleability by removing the signature from the transaction ID hash. By removing the signature from the hash, the signature may still be modified, but it will not alter the transaction ID. This feature will not allow a transaction to be hacked and or exploited.

  • How is Segwit and the Lightning network connected?

The adoption to SEGWIT brought support to the lightning network, which enhances bitcoins transaction capacity by taking small transactions off the block chain until the user is ready.

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

The simple answer is no. Resistance to SEGWIT has resulted in the development of other projects such as Bitcoin Cash. Most well-known wallets have adopted SEGWIT. According to the article SEGWIT is an upgrade that is gradually being embraced.

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#1140
  1. increasing block size
    2.Transaction malleability
  2. Segwit support 2nd layer solution
  3. no it is a soft fork
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#1141

1)The proposed alternative was to increase the block size to 2 MB
2) Segwit solved the signature malleability problem
3)The signature malleability problem prevented the development of more complex features such as second layer protocols ans smart contracts. This permitted the development of the Lightning network , which is a a layer 2 protocol that operates on top of the blockchain
4) No it was a soft fork, but as of January 2020 it had a 66% adoption rate

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#1142

What was a proposed alternative to Segwit?
Alternative was increasing the block side to 4MB.

What did Segwit solve more than just the scaling issue?
Yes, it also solve malleability (and booster developments as snorr signatures and MAST)

How is Segwit and the Lightning network connected?
Segwit made of possible to develop more 2nd layer protocols(like lichting network)

Are people, wallets and other services forced to use Segwit?
No, some people stille use legacy wallet. Also some Exchange did not move to segwit.

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#1143

  • What was a proposed alternative to Segwit?
    Increased Block Size

  • What did Segwit solve more than just the scaling issue?
    Segwit decreased cost and increased security thus increasing the possibility of adoption. It prevents Transaction Malleability so increasing security and allows for the development of second layer protocols.

  • How is Segwit and the Lightning network connected?
    The Lighning Network increases BTCs transaction time further by taking frequent, small transactions off-chain.

  • Are people, wallets and other services forced to use Segwit?
    No, Wallets and other services are not forced to use Segwit

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#1144

  1. Increase the block size to 2MB

  2. Transaction malleability

  3. The Lightning network is a second layer protocol that builds on top of the Bitcoin protocol

  4. No

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#1145

What was a proposed alternative to Segwit?
Increasing block size. Like bitcoin cash did eventually.

What did Segwit solve more than just the scaling issue?
The transaction malleability issue, where it is possible for a node on the network to change a transaction you send in such a way that the hash (and only the has) is invalidated.

How is Segwit and the Lightning network connected?
Lightning network is a layer two protocol, and they rely on unconfirmed transactions. So Segwit makes unconfirmed transactions less risky and makes layer two applications easier to design.

Are people, wallets and other services forced to use Segwit?
No. It is a soft fork, so its backward compatible and all nodes (legacy and segwit) will have the same copy of the ledger. All wallets will support sending and receiving to Legacy addresses, but you’ll need to upgrade if you want to send to a segwit address.

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