May 2019
Intermediate to advanced
480 pages
12h 43m
English
Content preview from Grokking BitcoinBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Chapter 10. Segregated witness
This chapter covers
- Understanding Bitcoin’s problems
- Moving signatures out of transactions
Bitcoin is far from perfect. It has several shortcomings that we should address. The first section of this chapter will explain some of these shortcomings. Among the most critical are transaction malleability and inefficiencies in signature verification. We’ve already mentioned transaction malleability in the “Time-locked transactions” section in chapter 9—someone might change a transaction in subtle, but valid, ways while it’s being broadcast, which will cause its txid to change.
A solution to these problems was presented at a 2015 conference on Bitcoin scaling. This solution is known as segregated witness (segwit), which ...
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