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What is Segwit? Explained To A Child
What is Segwit? Explained To A Child
Published: 2017/05/17
Channel: Ameer Rosic
Segregated Witness Explained [Segwit] (Litecoin/Bitcoin)
Segregated Witness Explained [Segwit] (Litecoin/Bitcoin)
Published: 2016/11/22
Channel: Franklyn [Litecoin]
Bitcoin Scaling Explained: Big Blocks vs. SegWit
Bitcoin Scaling Explained: Big Blocks vs. SegWit
Published: 2017/08/17
Channel: World Crypto Network
Segwit is Coming! (What is Segwit?)
Segwit is Coming! (What is Segwit?)
Published: 2017/07/21
Channel: Boxmining
Programmer explains Segregated Witness in Bitcoin and Litecoin
Programmer explains Segregated Witness in Bitcoin and Litecoin
Published: 2017/05/13
Channel: Ivan on Tech
Bitcoin Q&A: SegWit adoption
Bitcoin Q&A: SegWit adoption
Published: 2018/02/12
Channel: aantonop
Advanced Bitcoin Scripting -- Part 2: SegWit, Consensus, & Trustware
Advanced Bitcoin Scripting -- Part 2: SegWit, Consensus, & Trustware
Published: 2017/09/16
Channel: aantonop
What is Segwit Bitcoin & Lightning Network? - #BEGINNERS
What is Segwit Bitcoin & Lightning Network? - #BEGINNERS
Published: 2018/01/23
Channel: Decentralized TV
Legacy or Segwit Blockchain on my Ledger Nano S? What is the difference?
Legacy or Segwit Blockchain on my Ledger Nano S? What is the difference?
Published: 2017/09/18
Channel: OJ Jordan
Why is Segwit so important for Bitcoin Lightning Network? Programmer explains.
Why is Segwit so important for Bitcoin Lightning Network? Programmer explains.
Published: 2017/11/27
Channel: Ivan on Tech
Bitcoin Q&A: SegWit, scaling, and consensus
Bitcoin Q&A: SegWit, scaling, and consensus
Published: 2017/07/18
Channel: aantonop
Pieter Wuille: New Address Type for SegWit Addresses
Pieter Wuille: New Address Type for SegWit Addresses
Published: 2017/03/30
Channel: SF Bitcoin Developers
What is segwit?
What is segwit?
Published: 2016/10/31
Channel: 99Bitcoins
SegWit Explained: What is Segregated Witness and How Does It Work?
SegWit Explained: What is Segregated Witness and How Does It Work?
Published: 2016/10/30
Channel: m1xolyd1an
How to use Segwit with your Ledger Wallet
How to use Segwit with your Ledger Wallet
Published: 2017/08/28
Channel: BTC Sessions
Was am 1. August mit Bitcoin machen? Frankfurt Meetup zu Segwit, UASF und BIP148
Was am 1. August mit Bitcoin machen? Frankfurt Meetup zu Segwit, UASF und BIP148
Published: 2017/07/14
Channel: Dr. Julian Hosp
Andreas M. Antonopoulos---What is Segregated Witness (SegWit)?
Andreas M. Antonopoulos---What is Segregated Witness (SegWit)?
Published: 2018/04/28
Channel: Crypto's Price Forecast
Segwit vs Segwit2X Explicación simple en español
Segwit vs Segwit2X Explicación simple en español
Published: 2017/07/08
Channel: CriptoMonedas TV
SegWit explicado en 90 segundos
SegWit explicado en 90 segundos
Published: 2017/07/17
Channel: CriptoMonedas TV
One Year Of Segwit, Where Does It Stand?
One Year Of Segwit, Where Does It Stand?
Published: 2018/07/20
Channel: We Are All Satoshi
Pieter Wuille: Segregated witness and its impact on scalability
Pieter Wuille: Segregated witness and its impact on scalability
Published: 2015/12/15
Channel: SF Bitcoin Developers
Help Bitcoin! Use Segwit!
Help Bitcoin! Use Segwit!
Published: 2017/12/23
Channel: sunny decree
Entendendo o segwit (Bitcoin)
Entendendo o segwit (Bitcoin)
Published: 2018/01/30
Channel: Epaminondas Bitcoin
Was ist Segwit? - Einfach und verständlich erklärt!
Was ist Segwit? - Einfach und verständlich erklärt!
Published: 2017/08/26
Channel: Mach dich unabhängig
Dr. Peter Rizun - SegWit Coins are not Bitcoins - Arnhem 2017
Dr. Peter Rizun - SegWit Coins are not Bitcoins - Arnhem 2017
Published: 2017/07/07
Channel: The Future of Bitcoin
SegWit & Soft Forks & Sidechains, Oh, My! - Andreas Antonopoulos on Bitcoin
SegWit & Soft Forks & Sidechains, Oh, My! - Andreas Antonopoulos on Bitcoin
Published: 2016/01/28
Channel: Amanda B. Johnson
"Lightning and SegWit and Schnorr, Oh My!"
"Lightning and SegWit and Schnorr, Oh My!"
Published: 2016/10/19
Channel: Brooke Royse-Mallers
SegWit e o impasse no bitcoin
SegWit e o impasse no bitcoin
Published: 2017/06/26
Channel: Fernando Ulrich
Неделя Биткоина #2/7 Segwit для чайников, DASH EVO, BTC/LTC
Неделя Биткоина #2/7 Segwit для чайников, DASH EVO, BTC/LTC
Published: 2017/06/20
Channel: Трейдер Анатолий Радченко
Creating SegWit Addresses and Transactions on SegWit Activation Day
Creating SegWit Addresses and Transactions on SegWit Activation Day
Published: 2017/08/24
Channel: m1xolyd1an
Upgrading to SegWit
Upgrading to SegWit
Published: 2018/03/28
Channel: Coinomi
Bitcoin Q&A: Lightning Network without SegWit?
Bitcoin Q&A: Lightning Network without SegWit?
Published: 2017/11/09
Channel: aantonop
Exodus Interview Part 2 - When Segwit?
Exodus Interview Part 2 - When Segwit?
Published: 2018/08/23
Channel: BTC Sessions
Bitcoin Q&A: Does Lightning need SegWit?
Bitcoin Q&A: Does Lightning need SegWit?
Published: 2017/04/04
Channel: aantonop
Creating a Segwit (segregated-witness) Bitcoin Wallet Using the Electrum Bitcoin Wallet Version 3
Creating a Segwit (segregated-witness) Bitcoin Wallet Using the Electrum Bitcoin Wallet Version 3
Published: 2017/11/30
Channel: Rex Kneisley
Segwit Activation and Bitcoin Future with Jimmy Song
Segwit Activation and Bitcoin Future with Jimmy Song
Published: 2017/07/20
Channel: Boxmining
How to Convert Ledger Bitcoin Wallet to Segwit
How to Convert Ledger Bitcoin Wallet to Segwit
Published: 2017/08/25
Channel: Crypto Slayer
Roger Ver (BU) vs Tone Vays (SegWit) - Bitcoin Scaling Debate
Roger Ver (BU) vs Tone Vays (SegWit) - Bitcoin Scaling Debate
Published: 2017/02/27
Channel: Tone Vays
¡Bitcoin y la Actualización Segwit Adopción y Progreso! |Análisis de BTC, ETH, XRP
¡Bitcoin y la Actualización Segwit Adopción y Progreso! |Análisis de BTC, ETH, XRP
Published: 2018/02/11
Channel: David Battaglia
Bitcoin-Update von Legacy nach Segwit mit Ledger Nano S
Bitcoin-Update von Legacy nach Segwit mit Ledger Nano S
Published: 2017/08/27
Channel: Im Blickpunkt: Bitcoin, Blockchain & Co.
Bitcoin Segwit - A Fractionally Reserved Blockchain?
Bitcoin Segwit - A Fractionally Reserved Blockchain?
Published: 2017/12/03
Channel: Rothbard's Disciple
Massiver Bitcoin Crash am 1. August? Segwit, Segwit2X, UASF, BIP148 - Was ist das alles?
Massiver Bitcoin Crash am 1. August? Segwit, Segwit2X, UASF, BIP148 - Was ist das alles?
Published: 2017/07/12
Channel: Dr. Julian Hosp
Johnny Dilley (of Blockstream) vs Roger Ver - Bitcoin Scaling Debate (SegWit vs Bitcoin Unlimited)
Johnny Dilley (of Blockstream) vs Roger Ver - Bitcoin Scaling Debate (SegWit vs Bitcoin Unlimited)
Published: 2017/02/27
Channel: Tone Vays
Segwit finalmente ativado no bitcoin
Segwit finalmente ativado no bitcoin
Published: 2017/08/31
Channel: Fernando Ulrich
Bitcoin Q&A: SegWit and fork research
Bitcoin Q&A: SegWit and fork research
Published: 2018/05/31
Channel: aantonop
How Segwit Fits More Bitcoins in a Block
How Segwit Fits More Bitcoins in a Block
Published: 2018/09/09
Channel: Chronos Crypto
Segwit (Bitcoin): Hashes and Merkle Trees explained
Segwit (Bitcoin): Hashes and Merkle Trees explained
Published: 2017/09/11
Channel: Bobby Blockchains
Что такое СЕГВИТ простыми словами | Зачем нужен SegWit Биткоина?
Что такое СЕГВИТ простыми словами | Зачем нужен SegWit Биткоина?
Published: 2017/07/18
Channel: Юрий Рахимов
Why Chinese Bitcoin Miners Are Not Happy With SegWit - According To Bobby Lee (The Cryptoverse #215)
Why Chinese Bitcoin Miners Are Not Happy With SegWit - According To Bobby Lee (The Cryptoverse #215)
Published: 2017/02/23
Channel: The Cryptoverse
What is SegWit ?  - Arabic -  و ما هي فوائده؟ Segwit ما هو
What is SegWit ? - Arabic - و ما هي فوائده؟ Segwit ما هو
Published: 2017/08/09
Channel: Crypto Middle East
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WIKIPEDIA ARTICLE

From Wikipedia, the free encyclopedia
  (Redirected from Segregated Witness)
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SegWit Logo

Segregated Witness, or SegWit, is the name used for an implemented soft fork change in the transaction format of the cryptocurrency bitcoin.

The formal title "Segregated Witness (Consensus layer)" had Bitcoin Improvement Proposal number BIP141.[1] The declared purpose was to prevent nonintentional bitcoin transaction malleability, allow optional data transmission, and to bypass certain protocol restrictions (such as the block size limit) with a soft fork.[2]

It was also intended to mitigate a blockchain size limitation problem that reduces bitcoin transaction speed. It does this by splitting the transaction into two segments, removing the unlocking signature ("witness" data) from the original portion and appending it as a separate structure at the end.[3] The original section would continue to hold the sender and receiver data, and the new "witness" structure would contain scripts and signatures. The original data segment would be counted normally, but the "witness" segment would, in effect, be counted as a quarter of its real size.

History[edit]

Block size limit[edit]

Bitcoin is a cryptocurrency, a form of money using cryptography to keep transactions secure.

Each record of a unit of bitcoins is called a "block", and all blocks are tied together sequentially by using a cryptographic hash on the previous block and storing its output in the next. This forms a chain of blocks, or a blockchain.[4]

Each block contains information about who sends and receives a given unit of bitcoin (a transaction), as well as the signature that approves each transaction. Originally, there was no limit to the size of blocks. However, this allowed malicious actors to make up fake "block" data that was very long as a form of denial-of-service attack (DoS attack). These fake blocks would be detected, but doing so would take a very long time, slowing down the whole system.

Scalability and malleability[edit]

The current bitcoin blockchain design is regarded as having two shortcomings.

Scalability[edit]

A new block is added to the chain at random intervals averaging, by design, ten minutes (proof-of-work causes this delay). Together with the limit on block-size, this limits the number of transactions that can be processed in a given time. Some sites work around this problem using "off-chain payments", conducting transactions without waiting for confirmation by the bitcoin network.

Others have proposed changes to bitcoin that would reform the blockchain format in a backward-incompatible way. For example, FlexTrans (Flexible Transactions) would make transactions smaller by changing how they are described to a "tag" system, allowing more transactions per block. This is not compatible with systems that do not upgrade.

Segregated Witnesses as a solution[edit]

The signature data called the witness would be separated from the Merkle tree record of who is sending or receiving the bitcoins. The witness data is moved to the end, and each byte of it would only count as one quarter of a "unit".

It also addresses signature malleability, by serializing signatures separately from the rest of the transaction data, so that the transaction ID is no longer malleable.[2] This makes Bitcoin safer to use with Lightning Network, a way to speed up small or frequent payments by bundling them and only writing to the blockchain at the beginning and end of their execution, which would be (slightly) risky while the malleability problem still exists.

Activation[edit]

On 21 July 2017 bitcoin miners locked-in a software upgrade referred to as Bitcoin Improvement Proposal (BIP) 91, meaning that the Segregated Witness upgrade activated at block 477,120.

SegWit alleviates the scaling problem in two ways:

  • SegWit solves Transaction Malleability, thereby enabling the Lightning Network, an overlay network of micropayment channels, hypothetically resolving the scaling problem by enabling virtually unlimited numbers of instant, low-fee transactions to occur "off chain".[5]

By 8 August another milestone was reached when 100% of the bitcoin mining pools signaled support for SegWit, although SegWit would not be fully activated until 21 August at the earliest, after which miners would begin rejecting blocks that do not support SegWit.

Initially, most bitcoin transactions have not been able to use the upgrade. In the first week of October the proportion of bitcoin transactions using SegWit rose from 7% to 10%.

Segregated Witness was activated on August 23, 2017.

In the first week of October, the proportion of network transactions using SegWit rose from 7% to 10%, indicating an increase in use rate.

A small group of mostly China-based bitcoin miners were unhappy with bitcoin's proposed SegWit improvement plans pushed forward alternative plans for a split which created Bitcoin Cash.[6]

As of February 2018, SegWit transactions exceed 30%.[7]

SegWit2x[edit]

Segregated Witness (BIP141) should not be confused with SegWit2x (SegWit2Mb). In May 2017 Digital Currency Group (not to be confused with the Digital Currency Initiative of the MIT Media Lab) announced it had offered a proposal, referred to as SegWit2x ("the New York Agreement"), activating Segregated Witness at an 80% threshold of the total bitcoin hash rate, signaling at bit 4; and activating a 2 MB block size limit within six months with support in excess of 80% of the total bitcoin hash rate.[8]

As of mid-2017 the SegWit2x proposal had support in excess of 90% of the hashrate, however the SegWit2x proposal has been controversial in that work on the project is limited to an invitation only group of developers. In mid-July 2017 it became apparent that miners supported implementation of the Segwit part of the agreement before the 1 August 2017 UASF, thereby attempting to avoid the risk of a hard fork for the bitcoin network.[9]

On November 8, 2017, the developers of SegWit2x announced that the hard fork planned for around November 16, 2017 was canceled due to a lack of consensus.[10]

Related BIPs[edit]

  • BIP141 Segregated Witness (Consensus layer) – activated on August 24, 2017
  • BIP143 Transaction Signature Verification for Version 0 Witness Program [1] – activated on August 24, 2017
  • BIP144 Segregated Witness (Peer Services) – activated on August 24, 2017
  • BIP148 Mandatory activation of segwit deployment – activated (mandated the activation of BIP141, 143, 144)

References[edit]

  1. ^ All Bitcoin Improvement Proposals, including BIP141
  2. ^ a b Segregated Witness proposal BIP 141
  3. ^ Investopedia: SegWit (Segregated Witness)
  4. ^ How the Bitcoin protocol actually works
  5. ^ Graham, Luke (9 August 2017). "As bitcoin comes off its record high, the next step is to avoid a 'lightning fork'". CNBC. Archived from the original on 1 December 2017. Retrieved 23 November 2017. 
  6. ^ Irrera, Anna; Chavez-Dreyfuss, Gertrude (2 August 2017). "Bitcoin 'clone' sees a slow start following split". Independent. Retrieved 22 June 2018. 
  7. ^ Torpley, Kyle (28 February 2018). "The Number of Bitcoin Transactions Using SegWit Doubled In 2 Days, Here's Why That Matters". Forbes. Retrieved 1 March 2018. 
  8. ^ "Leading bitcoin ecosystem participants reach consensus on scaling issue". Econo Times. Econo Times. 25 May 2017. Retrieved 23 June 2017. 
  9. ^ CNBC (14 July 2017). "Dispute could mean financial panic in Bitcoin". Associated Press. Retrieved 19 July 2017. 
  10. ^ Vigna, Paul (8 November 2017). "Bitcoin Dodges Split That Threatened Its Surging Price". The Wall Street Journal. Retrieved 8 November 2017. 

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