SegWit question

[konovalets]

I've read a bit about Segregated Witness and one thing is not clear for me.

Does it really save some place for blockchain keeping or it's just a trick to move some data out of blockchain? Will it help to save place for full nodes?

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[achow101]

It does not actually reduce the storage requirements. More transactions means that there will be more data will be downloaded. What it does do is count the signatures as not being part of the transaction. This allows that data to be pruned at a later date once the the signatures are verified, so it can save space there.

[Hazir]

Some benefits of SegWit:

Primary the ability to make the current blockchain block size much more efficient, in real-world practical applications. 
Since old nodes will only download the witness-stripped block, they only enforce the 1 MB block size limit rule on that data.

New nodes, which understand the full block with witness data, are therefore free to replace this limit with a new one, allowing for larger block sizes.

Segregated Witness, therefore, takes advantage of this opportunity to raise the block size limit to nearly 4 MB,
and adds a new cost limit to ensure blocks remain balanced in their resource use (this effectively results in an effective limit closer to 2 MB).

Transaction times will shorten

Hopefully, this will help get transaction times closer to the optimal ten minutes than the current times of 30-60 minutes, at least in my personal experience.

Other benefits include , but may not be limited to malleability fixes, an easier implementation of the upcoming Lightning Network, simplification of the addition of “smart contracts” to Bitcoin’s protocol, more linear scaling of sighash operations, the ability to start signing input values, increased security for multi-sig via pay-to-script-hash (P2SH), can add script versioning functionality, reduction of UTXO growth and Compact fraud proofs.

Source: https://cointelegraph.com/news/summer-of-segwit-bitcoin-core-begins-segregated-witness-soft-fork

It will be certainly a breakthrough evolution and awesome much needed upgrade to the bitcoin protocol.
SegWit along with Lightnining Network has the potential to rise bitcoin price significantly, not to mention it will improve quality of life of every bitcoin user.

[damnMscollec]

@NicolasDorier
NBitcoin 3.0 Released with Segwit support ! Will soon update my book to explain how it works.

https://twitter.com/nicolasdorier/status/690694058948231170

Segwit is designed by Nicolas Dorier, and if you have question, you can tweet and ask him. I don't think there are so many people eligible to answer you this question here. Maybe a btc expert will answer you.

[achow101]

Segwit is designed by Nicolas Dorier, and if you have question, you can tweet and ask him. I don't think there are so many people eligible to answer you this question here. Maybe a btc expert will answer you.

Segwit is not designed by Nicolas Dorier. Please stop spreading misinformation. It was designed and implemented in Bitcoin Core by Johnson Lau and Pieter Wuille. If you want full details for how Segwit works (and thus how to implement it), please read the BIPs. Segwit is specified in BIPs 141, 143, and 144.

[damnMscollec]

Segwit is designed by Nicolas Dorier, and if you have question, you can tweet and ask him. I don't think there are so many people eligible to answer you this question here. Maybe a btc expert will answer you.

Segwit is not designed by Nicolas Dorier. Please stop spreading misinformation. It was designed and implemented in Bitcoin Core by Johnson Lau and Pieter Wuille. If you want full details for how Segwit works (and thus how to implement it), please read the BIPs. Segwit is specified in BIPs 141, 143, and 144.

Thanks for your correction dude, I thought Segwit was designed and develo[ed by Nicolas. It seems that he rewrite the code in C# language and in his NBitcoin codebase.

[pianist]

Segwit is specified in BIPs 141, 143, and 144.

BTW, why BIP 142 has not been accepted? And how will look segwit addresses?

[achow101]

Segwit is specified in BIPs 141, 143, and 144.

BTW, why BIP 142 has not been accepted? And how will look segwit addresses?

I don't quite remember why BIP 142 wasn't accepted.

There will not be segwit addresses. There will be segwit output types which map to a normal address. There will also be p2sh addresses in which the redeemscript is a segwit output.

[cr1776]

Segwit is specified in BIPs 141, 143, and 144.

BTW, why BIP 142 has not been accepted? And how will look segwit addresses?

I don't quite remember why BIP 142 wasn't accepted.

There will not be segwit addresses. There will be segwit output types which map to a normal address. There will also be p2sh addresses in which the redeemscript is a segwit output.

BIP 0142 is deferred (could be considered later if there is reason) since it is not needed right now since there is no separate segwit address format.

[jl2012]

Segwit is designed by Nicolas Dorier, and if you have question, you can tweet and ask him. I don't think there are so many people eligible to answer you this question here. Maybe a btc expert will answer you.

Segwit is not designed by Nicolas Dorier. Please stop spreading misinformation. It was designed and implemented in Bitcoin Core by Johnson Lau and Pieter Wuille. If you want full details for how Segwit works (and thus how to implement it), please read the BIPs. Segwit is specified in BIPs 141, 143, and 144.

Segwit is designed by many people, primarily by Pieter. The idea dates back to 2013 as early as I know. The softfork segwit is proposed by Luke Dashjr in 2015. I'm just contributing to a small part of it.

BIP142 was deferred and won't be implemented as currently described. People will use P2SH address for segwit at the beginning.

[pianist]

BIP142 was deferred and won't be implemented as currently described. People will use P2SH address for segwit at the beginning.

How will redeem script look like?

[achow101]

BIP142 was deferred and won't be implemented as currently described. People will use P2SH address for segwit at the beginning.

How will redeem script look like?

It will look like a segwit output script.