Segwit Reading Assignment

It’s time for a reading assignment about Segwit. Read through the following article https://www.coindesk.com/information/what-is-segwit, and answer the following questions.

  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?
  1. Block size increase

  2. Transaction ID malleability which in turn allows easier deployment of lightning network.

  3. Segwit helped make Lightning network possible.

  4. No it was a soft fork. Though considering they read segwit transactions as claimable by anyone. What value does a non upgrade full node add to the network? @filip

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Segwit

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  1. A proposed alternative to SegWit was an increase in block size which also lead to a hard fork, Bitcoin Cash.
  2. 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.
  3. No, it is a soft fork, however, wallets are adding SegWit support.
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  1. To increase the size of the blocks.
  2. It also solved the issue of transaction malleability.
  3. Segwit made second layer solutions possible.
  4. No, old addresses and transactions can still be used (soft fork).
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  1. What was a proposed alternative to Segwit?
    Make the blocks bigger

  2. What did Segwit solve more than just the scaling issue?
    The transacction malleability and room for a fast second layer like lightning.

  3. How is Segwit and the Lightning network connected?
    Segwit makes second layer possible

  4. Are people, wallets and other services forced to use Segwit?
    No. Old transactions can be used as well, some fields are only empty

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  1. To do a hard fork by increasing the block size of 4MB. Bitcoin cash is one example
  2. It fixed transaction malleability issue making network more secure.
  3. Lightning network is a second layer protocol which builds on segwit. Both together can make millions of transactions per sec instead of 7 to 10 per sec on older network.
  4. No. Its optional but once adaptability reaches 95% it will be the only way go forward.
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  1. Another suggested fix was increasing the block size to 2mb

  2. It also fixed the transaction malleability issue

  3. The SegWit changed also allowed development of second layer protocols, on which the lightening network was built.

  4. No they are not as older nodes are still present on the network which do not implement it

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  1. What was a proposed alternative to Segwit?

Increase block size

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

Fix the malleability problem that anyone can change small details, so that the transaction id can be modified.

Support the development of second layer protocols.

  1. How is Segwit and the Lightning network connected?

SegWit supports the development of second layer protocols, such as Lightning network.

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

No

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  1. Increase the block size from 1 MB to 2 MB or more.

  2. It also resolved transaction malleability, which allowed someone to alter the transaction after it’d been sent in minor ways to, in turn, change the transaction ID.

  3. Segwit makes layer two solutions, like the Lightning Network, easier to design and less risky because of the malleability fix.

  4. No, it’s a soft fork, so it still falls within the rules before the update.

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1. What was a proposed alternative to Segwit?
bigger blocks (4MB)

2. What did Segwit solve more than just the scaling issue?
Transaction malleability (possibility to change the txid)

3. How is Segwit and the Lightning network connected?
LN is a 2nd layer solution on top of Bitcoin, this would not be possible without segwit

4. Are people, wallets and other services forced to use Segwit?
No, it is not forced upon everybody and compatible with the previous protocol state

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  1. Increase in block size
  2. It solved the tx mallebility issue, by removing signature from the block’s tx id the mallebility is removed
  3. Ligtning network is an application on top of bitcoin network, which could have been very prone to attacks if segwit was not implemented
  4. No beause it is still compatible with old protocol
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  1. A proposed alternative to Segwit was to increase the block size to 4 MB.

  2. More than just the scaling issue Segwit also solved transaction malleability by removing the signature from the base transaction block.

  3. Segwit and the Lightning network are connected by being a two layer solution ontop of Bitcoin.

  4. People, wallets and other services are not forced to use Segwit because it is still compatible with old protocol.

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  1. To increase the blocksize

  2. By removing the signature information, it also solved the transaction malleability.

  3. Without Segwit the lightning network wouldn´t be possible.

  4. No, wallets and other service can still use the old protocol.

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