Do you know what is the isolation of witness (SegWit)?

Do you know what is the isolation of witness (SegWit)?

Commentary: Runaway bitcoin expansion dispute has long been widespread concern in the community, bitcoin has also been proposed a variety of solutions to solve this problem. But in the solution of a wide variety of isolation, witness (SegWit) is particularly interesting, but do you really know what is the isolation of witness? The author of this article is to explain its meaning, from the current state, as well as some of the reasons for its opposition to several aspects of this interpretation of the. No matter the end the program activated or not, bitcoin is facing a large-scale expansion of the problems, and these problems will only worsen over time.

Translation: Clover

1. what is the isolation of testimony?

Isolation of witness (usually abbreviated as SegWit) is a kind of updated bitcoin software is proposed, aimed at solving a series of serious problems facing bitcoin.

SegWit is a long-term team developed by bitcoin BitcoinCore for the proposed update. The BitcoinCore client is currently the most popular bitcoin standard, used by most enterprises in the industry.

Initially, the update is designed to solve the transaction scalability, as everyone knows this is the weakness of the bitcoin software. Although this kind of attack vector to the user is not the most destructive, but so far has been in a number of cases to be used, so also underscores the need to repair this vulnerability.

Moreover, SegWit provides a series of other advantages, focus attention now has the repair from scalability transfer to solve transaction bitcoin expansion problem. As we discussed in the same article and many other articles, bitcoin is facing a large-scale expansion of the problems, and these problems will only worsen over time.

What is the 2. bitcoin expansion problem SegWit solution?

SegWit increased the bitcoin block capacity limitations, and allows the implementation of second layer solution to further improve.

At present, bitcoin scalability problems mainly from block capacity. Continuous trading blocks block chain. In turn, the block chain is the lifeblood of the ledgers as all transactions so far in the network of encryption currency.

The problem here is hard to limit the current block into 1 encoding megabytes. But this is not enough to try to send hundreds of users per minute transaction.

Therefore, many users must wait until their transaction confirmation, the waiting time may be several hours or even days. With the expansion of network scale, the trade intensity also increased, but the block capacity limit is unchanged, which means that the problem will continue to deteriorate.

The SegWit solution consists of two parts. First of all, it can immediately block capacity limit increased to 4 megabytes. There is one thing to note: 4MB is the absolute maximum value, and the actual block capacity will depend on the condition of network. The activation of SegWit, experts predict block capacity will be 2 to 2 trillion and 100 billion range.

Secondly, to solve the transaction scalability, SegWit is eliminated for a small problem bitcoin itself exists, but the implementation of the second layer solution is a major obstacle to the above. One solution is to put the lightning network (LightningNetwork). The program will be a large number of transactions from the block chain rapid processing, is expected to greatly increase the network capacity.

3. why not activate SegWit?

Once a hash function force measuring network 95% signals that support, SegWit will be activated.

If the lack of a new set of rules, may cause the bifurcation dispute among the network, most of the nodes are updated and switch to the new client, but there are still some nodes decided to continue to use the old version. This leads to the use of different rules exist at the same time, and two kinds of encryption currency users compete for each other.

This may lead to the result and is likely to There’s no telling, (at least in the short term) have a significant negative effect on the value of money two. In order to avoid the bifurcation nature of the dispute, the developers of SegWit set up a specific rule in the software, only access network (95%) unanimously support will activate SegWit.

At present, the level of support at around 32% to about 33.8%, but has never exceeded this level. The support level is so low. The reason is that a large number of users in a variety of reasons against the update.

4. so, what is the main reason to oppose SegWit?

Key points against SegWit can be roughly divided into three aspects: technology, politics and ideology.

Some people think that, in the current state of SegWit can not solve the problem it promises. But a major reason for this view is that this update the block volume increase is not enough to meet demand of bitcoin users growing.

The reliability seems most experts would agree that SegWit makers superb technical capabilities and technology itself. However, ordinary people is not a programmer is virtually impossible to assess the authenticity of both arguments.

In fact, the current debate is not purely technical, but also political issues, but this will only make things more complicated. Many people also devoted to the study of SegWit employed by a company called Blockstream, the company’s main product is the side chain solutions.

Some people in the community that it would create a conflict of interest, because developers are motivated will hinder attempts to increase the capacity in the block, thereby artificially expand the lightning network side chain solutions demand. Although there is no conclusive evidence for this statement, but a large part of the community of people still choose to believe this, so it is against SegWit.

Against the main reason for this update in thought is that it cannot provide scalability at the same time, to ensure the bitcoin network to a certain extent sufficient to the center. As mentioned earlier, SegWit bitcoin trading volume of this long-term problem, it is only the implementation of the second layer side chain in solution allowed (such as lightning network) in this range.

Some people think that the problem here is the working principle of the side chain. In order not to depend on the height of the crowded block chain, they will be transferred to the second layer system of currency. In this system, all transactions are handled by a trusted third party, without the need to spread throughout the network, thus saving a lot of time and resources.

But by a trusted authority responsible for it is you want to remove from the bitcoin monetary system in the. For some people, this compromise is not acceptable, whether the third party influence in solving such as LN scheme of how small.

5. so who support SegWit?

There have been many individuals and the company said publicly that sometime in the past to support SegWit, and many companies have expressed support for software implementation.

In fact, it is understood that the industry more than 100 of the most famous companies have plans, research or have been implemented at SegWit to support its application in the business.

In addition, many in the bitcoin community for the work of famous people have been through Twitter and other platforms all expressed support for SegWit. Including AndreasAntonopoulos, SamsonMow, CharlieLee etc..

Of course, the most direct support from the miners. At the time of writing, more than 33.8% miners in favor of clear SegWit.

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