Loading...
Segregated Witness 2017-10-31T01:40:55+00:00

What is Segregated Witness (SegWit)?

Invented by Pieter Wuille SegWit is intented to separate the script signatures in a transaction block.
To fully understand the meaning behind this you need to understand how a block works. To explain this I will use a typical Bitcoin transaction, which consists of a 1MB block, this is the size of the block and in this contains the information of the receiving address and the script key which contains the signature and the public key.The signature takes up a large portion of this block size and ultimately can slow down the network as a whole.
Segregated witness is an update to the software where by it creates an extended block in which the signature part of the script goes to a separate block (also known as an extended block) and is checked later on. This reduces the sizes of the actual blocks which speeds up the overall transactions.
SegWit is a failry new update in the cryptoworld. Litecoin was the first major cryptocurrency to adopt this and there is a lot of talk surrounding the other big players in the digital currency world and whether or not they will adopt the SegWit technology.

Recent cryptocurrency news

The Crypto Asset Merchant Bank Galaxy Digital Invests in Everipedia

February 17th, 2018|0 Comments

Galaxy Digital, the full crypto asset merchant bank that has been recently launched by Bitcoin Bull and Investor, Mike Novogratz, seems to be executing quickly on a roadmap of its own. The bank has recently [...]

How Fuel Bros’ Etherbots Is Outpacing Cryptokitties

February 17th, 2018|0 Comments

The Rise of Etherbots Etherbots is outpacing Cryptokitties when it comes to transaction volume and this may be big deal because it shows that the Ethereum platform is able to support these widely popular games, [...]

How Mike Novogratz Raised 250 Million for His Cryptocurrency Merchant Bank

February 17th, 2018|0 Comments

The vocal and outspoken manager of hedge funds has marked a significant accomplishment for this year. Mike Novogratz was able to conduct a successful raise of 250 million dollars to fund the proposed operation of [...]

Winter Olympics Speed Skater Paid in Cryptocurrency

February 17th, 2018|0 Comments

Whether or not winter sports make you excited, you must have been seeing news coverage all over the internet from the 2018 Winter Olympics event that is currently being held in Pyeongchang, South Korea. However, [...]