Segwit Reading Assignment

Blockchain and Bitcoin 101
#1206

ahhh so there is no need to choose another chain?
Then why is bitcoin hardforked into btccash and gold?

#1207

Nope, you can use both types of transactions on the current chain :slight_smile:

How should I know? They wanted bigger blocks and they got them :sweat_smile:

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#1208

So. Bitcoin cash was a hardfork right?

#1209

Correct :slight_smile:

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#1210

A larger block size…
Transaction Malleability
SegWit allows second layer protocals such as lightning network
No, this is a soft fork but is is largely adopted

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#1211
  1. Larger block size
  2. Solving the malleability of changing small transaction details.
  3. Segwit opened up for lightning.
  4. No, at pixel time of the article only 14% used segwit since not all wallets was upgraded for segwit.
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#1212
  1. increase block size
  2. transaction malleability
  3. segwit supports development of second layer protocols like lightning network
  4. no, but wallets and services need to implement segwit to use it
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#1213

I will have to look more into the Lightning network. Thank you for the clarification!

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#1214

  1. Increase block size (BTC cash)

  2. The fact that you could edit or change the signatures and therefore change the TX ID or hash

  3. Segwit allows second layer protocols to be implemented way easier and they both help introduce more transactions with less fee

  4. No

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#1215
  1. increased block size
  2. malleable transactions
  3. Segwit allowed the lightning network to be possible
  4. no
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#1216

1) What was a proposed alternative to Segwit?
SegWit2x (2mb) was a planned “hard fork” that didn’t occur to double the blocksize limit.

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?
The Lightning Network is one of the first implementations of a multi-party Smart Contract. For it to operate correctly, required the Segwit update.

4) Are people, wallets and other services forced to use Segwit?
NO it was a soft fork.

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#1217
  1. What was a proposed alternative to Segwit?

Increasing the block size from 1mb to 2mb

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

Segwit also solved tx malleability ie. removing the ability for the recipient to change the tx id by altering the script signature

  1. How is Segwit and the Lightning network connected?

By fixing the tx malleability issue, it allowed for developing layer 2 solutions to occur (lightning network is a layer 2 solution).

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

No, segwit was a soft fork thus not everyone needed to update. Segwit was compatible with the previous protocol thus it meant those not upgrading were not affected

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#1218
  1. An alternative to Segwit would have been to increase the block size of the chain which would have been achieved by implementing a hard fork. This risked splitting the bitcoin community as it would have been a binary choice for them either to apply the Segwit update to their node, or continute using the existing version
  2. The scaling issue was to do with the overall number of transactions to be fit in one block. It was believed that more transactions could fit in one block if the signature code in a transaction was to be excluded from the data of the actual block. Another issue was the bug called ‘transaction malleability’. This was to do with the fact that the TXID of a transaction was able to be changed by a node before transmitting it on to the network.
  3. The Segwit update allows for a secondary protocol to be supported such as the lightning network to improve a transaction rate to be achieved in the bitcoin network.
  4. As the Segwit update was implemented as a soft fork, people don’t have to use it, and they may continue using the previous version going forward. However, by doing so they will be unable to benefit from the improved functionality of the network, and prevented from seeing all the data in a transaction, including the signature.
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#1219

That was also a thing back then, but it would be an upgrade to segwit, not the alternative. It was something else, can you figure out what? :slight_smile:

That is not true. Butcoin at its core uses script language and is the true first programmable money :wink:

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#1220

True, but only for Segwit type transactions :slight_smile:

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#1221

  1. wanted to increase the block size

  2. nobody can change the id of the TX.

  3. for the lightning network to oporate, you needed to download segwit.

4.its a soft fork so people dont need to use it. nobody is forcing them.

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#1222

Homework: Segwit

  1. increase the blocksize
  2. tx malleability
  3. segwit helped make lighting network possible. supports secondary layer solutions.
  4. no, because it was a softfork.
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#1223
  1. BCH was proposed as an alternative to SegWit, increasing blocksize and thus creating a hardfork
  2. SegWit solved a part of the scaling issue but also a problem with transaction malleability, where a third party could change the transaction ID
  3. LN required the use of SegWit, because it wouldn’t be possible with the old malleability problem
  4. No they are not, but the more services use SegWit, the more space is freed on the blockchain, and higher tx/s
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#1224

  1. What was a proposed alternative to Segwit?
    To increase the block size instead.

  2. What did Segwit solve more than just the scaling issue?
    It took care of the transaction malleability issue by removing the signature information from the base transaction block.

  3. How is Segwit and the Lightning network connected?
    SegWit added a second layer in the form of a 4MB block, outside the base 1MB block, which protocols like Lightning can take advantage of.

  4. Are people, wallets and other services forced to use Segwit?
    No, however it is still compatible with the original protocol.

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#1225

What was a proposed alternative to Segwit?
Increasing the blocksize.

What did Segwit solve more than just the scaling issue?
The transaction malleability issue.

How is Segwit and the Lightning network connected?
Segwit made Lightning less risky and easier to design.

Are people, wallets and other services forced to use Segwit?
No. It was a soft fork.

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