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

  • Bitcoin transaction backlog mempool

Bittrex Will Delist More Than 80 Altcoins by the End of March

March 22nd, 2018|0 Comments

 Bittrex recently shared its plans to remove 82 altcoins from its exchange. The reasons for removing these altcoins from the exchange’s listing vary according to Bittrex, which is one of the most popular U.S. based [...]

  • facts about bitcoin you need to know

The Ever Elusive Record High: Can It Ever Be Regained by Cryptocurrencies?

March 22nd, 2018|0 Comments

Even though it has just been a little over three months, it seems a distant dream when the cryptocurrency industry rejoiced in achieving milestones and obtaining all-time record highs for various digital assets. Dreams may [...]

Wikipedia’s Competitor Everipedia Is Going to Hold an Airdrop for Its IQ Tokens

March 21st, 2018|0 Comments

Everipedia, simply described as a wikipedia competitor, confirmed this Tuesday that it will be holding an airdrop for the distribution of its IQ Tokens. The move had been announced by the Wikipedia competitor two months [...]

  • QTUM Vanywhere

Vanywhere’s Blockchain-Based Skill Sharing Platform Announces a Major Collaboration With Qtum

March 19th, 2018|0 Comments

Vanywhere, the skill-sharing platform that enables anyone with a marketable skill to capitalize on their knowledge and talent, is announcing today a collaboration with Qtum, the blockchain application platform. The Vanywhere marketplace runs on the [...]