Segregated Witness, also known as SegWit, has locked in on Bitcoin it will be activated soon. This happened after many months of debates on how to scale Bitcoin and after the hard fork by some miners. SegWit will change Bitcoin in many ways. I will mention the most important ones. The blocks will store the same information in a lighter form, this will allow more transactions to be stored in a block and that means faster validation and shorter waiting times assuming the transaction number stays the same. SegWit also fixes transaction malleability which was one of the largest issues of Bitcoin since the very start. Finally, it allows the implementation of Lightning networks, networks that process transactions offline, off-chain. This will remove some of the heavy transaction load from Bitcoin.

SegWit will soon be activated on Bitcoin too

Leave a Reply

Your email address will not be published.