1. What was a proposed alternative to Segwit?
Increase block size limit.
2. What did Segwit solve more than just the scaling issue?
Segwit fixed transaction malleability.
3. How is Segwit and the Lightning network connected?
Lighting network is a second layer solution build on top of Bitcoin network and Segwit makes these developments possible
4. Are people, wallets and other services forced to use Segwit?
No, the updates are backward compatible.
- Increase the block size to 2MB.
- It solved the malleability issue in addition to the block scaling issue.
- Segwit made a way for a second layer of solution to be added. Because of this, the Lightning Network (2nd payment - micropayments) is able to exist.
- No.
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What became Bitcoin Cash was proposed as an alternative to SegWit. Bitcoin Cash increased the block size limit and created a hard fork in Bitcoin. The creators of Bitcoin Cash believed changing the transaction structure was just kicking the can down the road and believed increasing the block size limit was the answer.
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Segwit also solved transaction malleability, which happened when someone would change signature data in the blockchain. This would cause the transaction ID to change (and the subsequent hash). Segwit moved the signatures off the base transaction block. This allowed for signatures to be changed without affecting the transaction ID and the hash.
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Segwit supports the development of second layer protocols such as the lightning network. This was made possible by the trace malleability fix, as it made any feature that relies on unconfirmed transactions less risky and easier to design. Lightning network will also further boost bitcoins transaction capacity by taking frequent, smaller transactions off-chain. They will only settle on the main chain once the users are ready.
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It seemed as if you can still use the older protocol, but the industry did seem to be adapting to the implementation of SegWit. At the time of the article being written Coinbase had not implemented SegWit wallets, but planned to have it out the following year. The most popular node at the time did not have it currently implemented but expected it to have it out Q1 of the following year. So while it seemed as if the old structure was still valid, most people were moving to SegWit update.
- It would include a larger block size.
- It solved the malleability of Tx-IDs by storing the signature outside of the Tx.
- Without Segwit there were no possibilities of other implementations because it introduced second-layer solutions.
- No, as it is a soft fork.
Question to 3.: I couldn’t find how exactly Segwit made those implementations possible. Can anybody help me out?
- What was a proposed alternative to Segwit?
Making the block size limit larger.
- What did Segwit solve more than just the scaling issue?
It solved the potential for transaction ID malleability.
- How is Segwit and the Lightning network connected?
Segwit enables speed, which makes the lightning network possible.
- Are people, wallets and other services forced to use Segwit?
No, but wallets are enabling Segwit support.
`Thanks Alko
I have a question, what is the difference between native segwit and segwit in Bitcoin ? Because normalilly doesn’t support btc in native segwit…
Old style transactions will remain valid on Bitcoin forever
They actually were possible even without. I think Counterparty existed before Segwit. But Segwit did made these implementations easier and safer to implement.
Lightning for example heavily relies on unconfirmed transactions and therefore wouldn’t be as safe if malleability wouldn’t be solved.
The difference is that native Segwit uses Bech32 address format. Its more efficient on block space and therefore a bit cheaper than regular Segwit.
increase the block size
transaction malleability
segwit enabled lightning
nope
Thank you Alko, I appreciate your dedication
- A proposed alternative to SegWit was an increase in block size which also lead to a hard fork, Bitcoin Cash.
- SegWit solves the transaction malleability and lower fees along with supporting a second layer solution.
3 SegWit supports the second layer solution which is the lightning network. - No, it is a soft fork, however, wallets are adding SegWit support.
- What was a proposed alternative to Segwit?
Increasing the block size to 2MB which actually lead to the creation of Bitcoin Cash through a hard fork by people in the network who disagreed with the Segwit model.
- What did Segwit solve more than just the scaling issue?
The security issue known as transaction malleability. Separating signatures from transactions removed the possibility of signature alterations negatively affecting the hash.
- How is Segwit and the Lightning network connected?
SegWit supports the development of second layer protocols like the lightning network, which needs SegWit’s malleability fix that makes unconfirmed transactions less risky. The lightning network also boosts bitcoin’s transaction capacity by taking frequent, small transactions off-chain. These transactions eventually settle on the bitcoin blockchain when the users are ready.
- Are people, wallets and other services forced to use Segwit?
No. There’s a slow adaptation process to this soft fork and many wallets have yet to add Segwit support.
- What was a proposed alternative to Segwit? Increase block size.
- What did Segwit solve more than just the scaling issue? Transaction malleability.
- How is Segwit and the Lightning network connected? With Segwit we can build second layer e.g. lightining network.
- Are people, wallets and other services forced to use Segwit? not forced, but definitely adding segwit. Added advantage for soft fork.
1.) Increasing the size of a block.
2.) Transaction malleability, enabling the lightning network.
3.) The lightning network, a second layer solution, is possible because of Segwit.
4.) Due to the fact that Segwit is a soft fork, no one is required to use it.
- What was a proposed alternative to Segwit?
A proposed alternative to Segwit was a larger Block Size.
- What did Segwit solve more than just the scaling issue?
Segwit also solved the malleability of transactions which means that a TXID could not be changed anymore by making small changes to the signatures as the signatures were lifted. The part being hashed excluded the signatures and this would not alter the TXID anymore
- How is Segwit and the Lightning network connected?
Segwit supports second layer protocols on the BTC protocol and the Lightning network would be able to boost further the transaction capacity.
- Are people, wallets and other services forced to use Segwit?
No they are not forced to use Segwit because it is a softfork.
The set of rules of the BTC protocol contracted by implementing Segwit by leaving out the signatures.
1 To increase the block size
2 It fixed tx malleability by removing the signature information
3 SegWit supports the development of 2nd layer protocols
4 No
1.A proposed alternative to Segwit was increasing the block size to 2mB.
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Segwit solved the transaction malleability, speed and weight of blocks also reducing fees.
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Lighting network is a Segwit Layer 2 solution to speed up transactions.
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No, Although Segwit was a soft fork the update is being implemented and accepted by almost everyone in the space.
- Increasing the Block Size instead
- It transaction malleability and introduced ‘block weight’ and the ability to scale using other solutions in the future like lightning network.
- Lighting network is using segwit to conduct smaller transaction off chain until they are ready to be verified, unclogging the network.
- No they are not forced to use it, it is just a faster and cheaper way to operate which incentivises the platform.
1- Increasing the size of the block to 2 MB
2-The transaction malleability
3-Segwit supports the development of second layer protocols, such as the lightning network
4-No they are not forced