Segwit Reading Assignment

Blockchain and Bitcoin 101
#1486

Increase of the blocksize.

Transaction ID Malleability

Segwit is a prerequisite for the implementation of the lightning network in bitcoin.

No, segwit is a softfork.

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#1487
  1. What was a proposed alternative to Segwit?
    Increasing the block size to 2…3…4… Mb
  2. What did Segwit solve more than just the scaling issue?
    The problem of transaction malleability eg. changing the block size
  3. How is Segwit and the Lightning network connected?
    They allow small frequent transactions to be made off chain and therefore facilitate lightening network
  4. Are people, wallets and other services forced to use Segwit?
    No , it is a soft fork so it is voluntary
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#1488
  1. One alternative was that the block size could be increased from 1 MB to 2 MB.
  2. Other than the scaling issue, Segwit solved the problem with transaction malleability. Since the signature is not part of the transaction data anymore, a change in the signature would not end in a change of the transaction ID.
  3. Segwit makes second layer solutions such as Lightning network possible.
  4. No, old transactions can still be used. It is therefore a soft fork.
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#1489
  1. Increase the block size limit.
  2. By removing signature and scripts from the block made the block less malleable.
  3. The lighting network is built onto of Segwit.
  4. No.
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#1490

1.) One suggested alternative to Segwit was to increase the block size, but this was deemed a temporary fix, because the increased size limit would have soon been met, creating the need to increase the size again, or find another solution. Another problem it created was a slower transaction speed, and it didn’t solve the malleability problem.
2.) Segwit not only solved the scaling issue, but also the malleability issue by removing the transaction ID from within the transaction, preventing the receiver from being able to alter the transaction. Decreasing the size also made it faster instead of slower.
3.) Segwit supports second layer protocols, like the Lightning network, by making any of their features relying on unconfirmed transactions easier to design, and less risky.
4.)No, and because it was a soft fork, it remained more decentralized, because it didn’t drive up the cost of mining equipment, driving the “little fish” out of that faucet of the network.

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#1491
  1. An alternative to segwit is the network allowing a larger block size.
  2. Segwit solved the problem of transaction malleability. The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design. Also without the signature information, the transactions weigh much less. This means that more transactions can fit in a block, and bitcoin can process a greater throughput without changing the block size.
    SegWit activation also boosted development work on other features such as MAST (which enables more complex bitcoin smart contracts), Schnorr signatures (which would enable another transaction capacity boost) and TumbleBit (an anonymous top-layer network). Segwit also reduces transaction fees.
  3. The malleability that segwit solved allowed any feature (2nd layer protocols like lightening network) that relied on unconfirmed transactions to be less risky and easier to design. Transaction malleability prevented 2nd layer solutions.
  4. No, it is a soft fork.
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#1492
  1. What was a proposed alternative to Segwit?

Upping the transaction amount to 2mB

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

Transaction malleablity

  1. How is Segwit and the Lightning network connected?

Segwit supports second layer protocols like Lightning network.

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

No but most probably will because the biggest wallets and holders like coinbase are using sets it.

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#1493

  1. What was a proposed alternative to Segwit?
    Larger block size

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

  3. How is Segwit and the Lightning network connected?
    Segwit removes signature for transactions hash. Removing signatures from transactions removes malleability. Making it impossible to change signature data changing the transaction. Removing malleability helps the lighting network by allows transactions to stay open through smart contracts between users without the fear of changing the underlying contract.

  4. Are people, wallets and other services forced to use Segwit?
    No they are not.

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#1494

1.) Segwit2x was a proposed alternative to Segit but was dropped just weeks before its implemenation. Many feared that the proposal only “further wave of discord.” The idea was backed by several of the largest excahanges of the time. The concern was that there was a great potential for double spending and that a redistribution of power away from developers and into miners and businesses would create a fundamental split between the community.
2.)Segwit solved transaction manageability flaw which allowed anybody to change small details that modified the transaction ID and the subsequent hash. This flaw prevented the development of more complex layers such as smart contracts and second layer protocols.
3.)Lightning network is a second layer protocol that allows for off chain transactions that can bolster the bitcoin blockchains as the Lightning network takes small frequent unconfirmed transactions off chain.
4.) No Bitcoin Cash is a fork of Bitcoin Blockchain and was created as a result of people not wanting to implement segwit and rather adopt a large block size capacity.

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#1495

  1. What was a proposed alternative to Segwit?
    Increase the 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 is that it 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, Segwit is optional

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#1496
  1. Increasing the block size
  2. Without the signature information, the transactions weigh much less. This means that more can fit in a block, and bitcoin can process a greater throughput without changing the block size.
  3. SegWit supports the development of second layer protocols like the lightning network.
  4. No.
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#1497
  1. To increase block size.
  2. improve transaction malleability
  3. Segwit supports the lightning network, a second layer solution
  4. No, it is a soft fork so old addresses and transactions can still be used.
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#1498

1 - An alternate proposal for Segwit was increased block sizes.
2- It resolved the malleable transactions issue by pulling the signature out of the transaction and allowed for 2nd layer solutions as well
3- Lightning network is a 2nd layer protocol that is made possible by the Segwit solution eliminating malleable transactions
4 - No, as it was a soft fork. However if they want to use the bitcoin blockchain, I assume they would have to pull the Signatures out of the blocks in order to be compatible with the new rules or risk having their transactions rejected by the nodes.

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#1499

Segwit2x was a thing when Segwit was already activated. I don’t know for sure what exactly was it about. But the alternative at the time of Segwit was to increase the block size.

Old style transactions are still valid on the Bitcoin blockchain as well :slight_smile:

#1500

You can still do old transactions on bitcoin and old addresses and ignore the new rules if you want. Its not recommended though because of higher fees :slight_smile:

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#1501
  1. Increasing the block size.
  2. Segwit solved the issue with transaction malleability.
  3. The lightening network is a second layer solution that is possible due to Segwit.
  4. No, it is a soft fork, but wallets are adding support.
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#1502
  1. What was a proposed alternative to Segwit?

Hard fork that increased the block size from 1MB to 2MB

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

Better security. If someone made a change to the transaction signature, the HASH of the Transaction would no longer change, since the TX signature would now be stored outside of the Transaction

  1. How is Segwit and the Lightning network connected?

It made the support of second layer protocols a possibility, since it removed the option for transaction malleability, which made the unconfirmed transactions less risky

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

No, they can adopt the feature as they want. It took a long time to implement SegWit to the majority of users and services.

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#1503

  1. The proposed alternative to Segwit was to hard fork the chain which resulted in Bitcoin Cash. This hard fork increased the block size from 1mB to 8mB.

  2. Segwit solved two major problems with Bitcoin: 1) scaling issue and 2)
    transaction malleability. Taking the signatures outside of the transaction freed up space in the block to allow for more transactions, without increasing the block size, and also allowing for scalability.

  3. The Lightning Network was conceived of as a way to deal with the slow transaction times and high fees of Bitcoin transactions.

  4. Users and Wallets are not forced to use Segwit since it is a soft fork. Users and wallets can choose to use Segwit to increase TX time.

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#1504

  1. Larger block size

  2. The ability to apply second layer solutions for faster tx times.

  3. Segwit enables transactions to be confirmed off chain allowing lightning network to confirm txs before going into the blockchain.

  4. No. Wallets took time to adjust to the change but by being a softfork allowed for both old and new TXs to be true and confirmed on the network

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#1505
  1. What was a proposed alternative to Segwit?

The alternative was to increase the size of the blocks.

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

Segwit solved the problem with transaction malleability and the one with high tx fees.

  1. How is Segwit and the Lightning network connected?

Thanks to the implementation of Segwit, now we have the Lightning Network which is a second layer solution on top of the Bitcoin network.

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

They are not forced because the old fashion can still be used as Segwit was a Soft Fork.

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