Segwit Reading Assignment

Blockchain and Bitcoin 101
#1906

  1. A proposed alternative to Segwit was to increase the block size from 1mB to 2mB.

  2. Segwit also solved the issue of transaction malleability.

  3. Because Segwit enabled more transactions in a block, it also allowed for the development of second layer protocols like the lightning network.

  4. Segwit was a soft fork so people can still use the old network protocols.

1 Like
#1907
  1. What was a proposed alternative to Segwit? Increase Blocksize
  2. What did Segwit solve more than just the scaling issue? Tx malleability
  3. How is Segwit and the Lightning network connected? Segwit supports second layer solution
  4. Are people, wallets and other services forced to use Segwit? No
1 Like
#1908
  1. What was a proposed alternative to Segwit? To increase the block size.
  2. What did Segwit solve more than just the scaling issue? It also solved the transaction malleability issue and made it possible for second layer protocols as well as lowering fees.
  3. How is Segwit and the Lightning network connected? Segwit made it possible for second layer protocols like the lightning network.
  4. Are people, wallets and other services forced to use Segwit? No its classed as a soft folk, but many wallets are adding segwit support.
1 Like
#1909

Yeah, segwit 2x was basically inplementing segwit + increasing the blocksize
(they wanted double fun :slightly_smiling_face:)

#1910

Alternative to what? Segwit was enabled on block 481824 and Segwit2x was supposed to be activated on block 494782.
https://en.bitcoin.it/wiki/SegWit2x

2 Likes
#1911
  1. What was a proposed alternative to Segwit?
  • increase the block size - in this case hard fork such as Bitcoin cash
  1. What did Segwit solve more than just the scaling issue?
  • Also transaction malleability - when the user change his Tx signature, it does not affect the Tx hash anymore.
  1. How is Segwit and the Lightning network connected?
  • it supports the development of second layer protocols which is Lightning network.
  1. Are people, wallets and other services forced to use Segwit?
  • forced are the only big wallets as Trezor, Ledger, Kraken. If you have a many Txs which dont fit into 1MB block size, you have to use this solution as Segwit is.
#1912
  • What was a proposed alternative to Segwit?

– To increase the block size limit

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

– it also solved the malleability issue

  • How is Segwit and the Lightning network connected?

– Fixing the malleability issue made it less risky to add features that rely on unconfirmed transactions.

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

– No Segwit is a soft fork update

1 Like
#1913

1 increase the block size limit
2 transaction mallebillity, a small change in de signature of the tx
3Lightning network is the 2nd layer solution using segwit. Therefor able to process more and faster transactions. Only putting it on the bitcoin blockchain after everything is finished.
4 no, it is a choice

1 Like
#1914

A hard fork, double the capacity of the yx accepted in the blockchain

Malleability problem.

Segwit makes layer 2 possible.

No, becaude it was a soft fork.

1 Like
#1915

I’m trying to figure out what you mean by this.
In a soft fork like segwit, people are not forced to use Segwit. But eventually, it will be the best option as more users are adopting segwit transactions and miners updating to segwit consensus rules.
If you use bech32 adresses, you will pay less fee, because the signatures to unlock your utxo’s are not weight in anymore wich is less bytes you need to use and lower fee’s as a result

3 Likes
#1916
  1. An alternative to Segwit could’ve been increased block size.
  2. Segwit solved Transaction Malleability by removing the witness/signature data from the actual TX.
  3. Segwit supports the implementation of second layer protocols, such as the Lightning network.
  4. People, wallets and other services are not forced to use Segwit. Native bitcoin is still supported as this was just a soft fork.
1 Like
#1917

Check this article and go back to the question and see what exactly asking. (What was a proposed alternative to Segwit?)
https://news.bitcoin.com/two-popular-hardware-wallet-firms-reveal-segwit2x-fork-plans/

#1918

You are right, I didnt understand the question :slight_smile: correct answer is that they are not forced to use the segwit. And aswered the question by logic :smiley: that for big wallets they will save money on tx fees. Thaks for your reply! :slight_smile:

1 Like
#1919
  • What was a proposed alternative to Segwit?
    –Block Size increase.
  • What did Segwit solve more than just the scaling issue?
    –Segwit also solved the issue of transaction malleability.
  • How is Segwit and the Lightning network connected?
    –By decreasing the size of the transactions, the lightning network is able to take frequent small transaction and process them into the block.
  • Are people, wallets and other services forced to use Segwit?
    –No, the upgrade was a soft fork. So nodes who haven’t upgraded are still able to use the old protocol.
1 Like
#1920

Segwit Reading Assignment:

1. What was a proposed alternative to Segwit?

Increasing the block size was initially suggested, however, this was widely regarded as only a temporary fix, as the same congestion problem would eventually occur when the new block size maxed out as the result of the increasing transaction volume on the bitcoin blockchain over time.

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

It fixed the transaction malleability bug, by removing the UTXO signatures from the transaction - as the signatures are no longer stored in the transaction when using Segwit, they are not hashed along with the transaction to create the transaction ID, preventing malicious users from changing the signature information, and manipulating transactions in their favour.

3. How is Segwit and the Lightning network connected?

Segwit made it easier and safer to create the Lightning network, as the Lightning network makes integral use of unconfirmed transactions in its functionality as a second layer protocol on top of the bitcoin blockchain, and Segwit increases the security of this by removing the signatures from the transaction block.

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

No - the proportion of the community that supported the option of increasing the block size to solve the scaling problem created bitcoin cash as an alternative to using the Segwit solution.

In addition to this, the signature information is now stored outside of the transaction block when using Segwit - this feature makes it backwards compatible with the previous protocol, circumventing the requirement for a hardfork of the bitcoin blockchain, as the block size remains at 1MB, despite the block weight (the total size of the transaction block and the signature information combined together) having a maximum capacity of 4MB.

1 Like
#1921

  1. Increasing block size.

  2. It also solved the problem of transaction malleability.

  3. They both work on scaling bitcoin.

  4. No.

1 Like
#1922

The article doesn’t really mention Segwit it only talks about the B2X hard fork. But its not really an alternative, because Segwit was already activated at the time.

1 Like
#1923
  1. Bitcoin cash
  2. The manipulation or malleability of the data by segregating the ID
  3. Segwit supports the Lightning network protocol, its less risky on unconfirmed tx.
  4. No they are not forced, its an option
1 Like
#1924

[quote=“filip, post:1, topic:8408”]

  • What was a proposed alternative to Segwit?
    The block size increase
  • What did Segwit solve more than just the scaling issue?
    Transaction malleability with the possibility to change the txid
  • How is Segwit and the Lightning network connected?
    Segwit make the second layer possible so that’s why they connected
  • Are people, wallets and other services forced to use Segwit?
    No, because its a fork (soft), so it still have the rules before the update
2 Likes
#1925

  1. What was a proposed alternative to Segwit?
    Prior to Pieter Wiulle’s segwit idea, the alternative was increasing the block size from 1 to 2 mB (or maybe later bigger)

  2. What did Segwit solve more than just the scaling issue?
    It solved the transaction malleability issue.

  3. How is Segwit and the Lightning network connected?
    Lightning network is a second layer protocol, made possible by implementing segwit.

  4. Are people, wallets and other services forced to use Segwit?
    No, users have the choice to not use Segwit.

2 Likes