Bitcoin Forum
May 10, 2024, 11:01:32 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: SegWit updates  (Read 241 times)
#BitcoinVegan (OP)
Member
**
Offline Offline

Activity: 76
Merit: 10


View Profile
November 12, 2017, 11:50:49 PM
 #1

I have a question otber than atomic swaps what does SegWit open the door for,  and what is meant when people say "Layer2"?
1715382092
Hero Member
*
Offline Offline

Posts: 1715382092

View Profile Personal Message (Offline)

Ignore
1715382092
Reply with quote  #2

1715382092
Report to moderator
1715382092
Hero Member
*
Offline Offline

Posts: 1715382092

View Profile Personal Message (Offline)

Ignore
1715382092
Reply with quote  #2

1715382092
Report to moderator
1715382092
Hero Member
*
Offline Offline

Posts: 1715382092

View Profile Personal Message (Offline)

Ignore
1715382092
Reply with quote  #2

1715382092
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
patt0
Legendary
*
Offline Offline

Activity: 1694
Merit: 1005


Betting Championship betking.io/sports-leaderboard


View Profile
November 13, 2017, 12:01:54 AM
 #2

I have a question otber than atomic swaps what does SegWit open the door for,  and what is meant when people say "Layer2"?

I think one of the major "doors" segwit opens is the possibility to develop and implement the lightning network, where tx don't need to be inserted into the blocks. They go there eventually, but only the "final version" of the transaction goes there. I don't know the exact details, but basically a payment channel is created off-chain (and this is the layer 2, because it's outside the blockchain), transactions are recorded in these channels, and eventually a final version is broadcasted into the blocks, and gets stored into the blockchain.

This is great, because you can solve the bitcoin scaling problems without increasing the block size, and this is the best option for the long term.

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!