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Segwit is an upgrade to the Bitcoin protocol that separates the digital signature (also known as “the witness”) form the transaction. This creates a fix to several issues with the Bitcoin protocol and also allows for more transactions to fit within a 1mb block.
That’s Segwit in a nutshell. If you want a more detailed explanation watch the complete video, here’s what I’ll cover:
0:46 – What is Segwit?
1:06 – Bitcoin transactions in a nutshell
1:36 – Bitcoin’s scalability issue
1:52 – Bitcoin’s malleability issue
3:29 – Malleability exploit example
4:24 – How Segwit works
4:54 – Legacy tx vs. Segwit tx
5:25 – Segwit advantages
5:57 – Soft fork vs. Hard fork
7:08 – Block weight explained
8:56 – Legacy vs. Segwit continued
9:12 – Segwit support
9:39 – Conclusion
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