SegWit isolation, also known as witness, is called Bitcoin protocol upgrade, implemented on August 23, 2017.
And any other kind of distributed block chain the same, if Bitcoin algorithm needs to be updated, will jointly decide how to update and when updated by the Bitcoin developers and participants. The purpose of this method is that by upgrading help Bitcoin expand and fix the vulnerability, since these vulnerabilities lead to the risk of no confidence on their characteristics. SegWit credits to upgrade bit block chain on the data storage method is known.
Difference SegWit and Non-SegWit of
on centralized financial products, if the algorithm behind the need to adjust, just administrators or authority can be updated or modified unilaterally direct.
For such a distributed like Bitcoin project, similar SegWit agreement to upgrade only occasionally, and the block chain is unique. Bitcoin exists, depends on the people around the world support them remotely. When there are enough users agree in the same way to update their software, it must be forked development in new directions.
To SegWit what purpose? SegWit bifurcation increases the number of transactions in any one bitcoin block. In the previous article we had a separate talk in detail and excellent soft bifurcation bifurcation, SegWit here is a soft bifurcation, that is not the "chain" is divided into a block chain to be updated on the basis of two. This means that there will be a bitcoin block chain will also accept has been enabled SegWit and SegWit not enabled users block in the software.
SegWit Fixed a transaction known as ductility, the problem will make Bitcoin transaction data can be changed before it is completed trading network. SegWit by the signature information stored outside the relevant block, but still ensure can verify such credits bits while maintaining the integrity of the transaction, the transaction will be packaged into any one of more single 1MB block. This enables block chain in dealing with Bitcoin transactions more secure and fast.
Why SegWit could not be complete adoption? Although SegWit has many benefits, but it is still not supported by all network participants complete Bitcoin uses, because it is not mandatory (mentioned earlier, it is a soft bifurcation).
Bitcoin is not a simple "upgrade", it needs to rely on the wallet, exchanges and companies use it for self-promotion and then push the change to the network. No one forces the user to adopt SegWit, we can only depend on a team of engineers to push the organization in the right direction, so it often does not make it achieve the desired results. When SegWit available, and only a small part of the business has been rapidly adopted, as well as part of the company's managers whether with the new software update wavering on this issue, after all, the right to decide to use or not do not have the technical team hands.
Another reason is that the miners, the miners prefer to use is not compatible with SegWit of AsicBoost firmware, however, is said to employ SegWit can actually help them verify the transaction speed by 20%.
Whether SegWit disadvantage? SegWit given block chain greater weight or density of the transaction, but for some block chain data will be held in addition to the original chain, as a reference or index, so some people think that offload data from the block chain has been It is a failure. This is also the cause of hard cash 2017 block chain bifurcation.
SegWit can succeed? With the rising amount of Bitcoin transactions, users tend to use more and more support SegWit wallet, purse process transactions because these blocks have a higher weight (density transaction) to improve the speed and cost-effectiveness should not be forced more companies are adopting the use of SegWit.
from last year, SegWit usage has increased by more than 39 percent from 50.5 percent.
With the bitcoin block chain more deals enable SegWit, use AsicBoost firmware or filter out these transactions is no longer a miner's monetization strategy. Perhaps only the first step SegWit encryption developers money to the right path.
Original from Nikolai Kuznetsov, compiled by the quantization Kicking Horse River.