Cryptocurrency Q&A
Does blockchain use SegWit?
Does blockchain use SegWit?
FireFlyer
Tue Dec 03 2024
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6 answers
1201
SegWit, short for Segregated Witness, is a protocol upgrade that has been implemented in certain blockchain networks, including Bitcoin. It aims to improve transaction efficiency, reduce costs, and enhance security by separating signature data from transaction data. This allows for more transactions to be included in each block, effectively increasing the blockchain's throughput without altering the block size limit. Therefore, when asking if blockchain uses SegWit, the answer would depend on the specific blockchain network being referenced, as not all blockchains have adopted this upgrade.
6 answers
ZenBalance
Thu Dec 05 2024
Segwit represented a significant advancement for the Bitcoin blockchain.
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CryptoLegend
Wed Dec 04 2024
By relocating transaction signatures to a separate field within blocks, it optimized the structure of blockchain data.
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henry_taylor_architect
Wed Dec 04 2024
Moreover, lower transaction fees became possible due to the improved utilization of block space.
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Stefano
Wed Dec 04 2024
Instead of adhering to strict size limitations, Segwit introduced a weighting system for blocks.
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EchoSeeker
Wed Dec 04 2024
This innovation allowed for more transactions to be processed within the same block size.
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