CryptoURANUS Economics: SegWit: Cryptocurrency


Wednesday, July 24, 2019

SegWit: Cryptocurrency



Segregated Witness (SegWit) is a protocol upgrade providing protection from transaction malleability, and this is an increase of block capacity.

SegWit defines a new structure called a witness committed to blocks separately from the transaction merkle tree.

This structure contains data required to check transaction validity, and this is not required to determine transaction effects.

Signatures and redeem scripts are moved into this new structure.

This does not count add to the traditional one (1)MB block size limit and a new weight parameter is defined,.

These blocks are allowed to have maximum of 4 million weight units (WU).

A byte in the original one (1)MB zone of the block weighs 4 WU.

A byte in a witness structure only weighs 1 WU.

In and by this translation allowing blocks technically larger than one (1)MB without a hardforking change.

SegWit was the last protocol change needed to make the Lightning network safe to deploy on the Bitcoin network.

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