How does bip-91 improve the scalability and security of digital currencies?

3 answers

• Mustafa KhaledApr 13, 2023 · 2 years ago
  Bip-91, also known as Bitcoin Improvement Proposal 91, is a protocol upgrade that aims to improve the scalability and security of digital currencies, particularly Bitcoin. By implementing bip-91, the block size limit of Bitcoin was increased, allowing more transactions to be processed in each block. This increase in block size improves the scalability of Bitcoin, as it can handle a larger number of transactions per second. Additionally, bip-91 introduced a mechanism called Segregated Witness (SegWit), which separates transaction data from signature data, resulting in smaller transaction sizes. This not only improves scalability but also enhances the security of digital currencies, as it reduces the risk of transaction malleability and enables the implementation of additional security features.
  804

  402
• Garden of EdenOct 29, 2024 · 9 months ago
  Bip-91 is a game-changer when it comes to the scalability and security of digital currencies. With its implementation, the block size limit of Bitcoin was increased, allowing for more transactions to be included in each block. This means that Bitcoin can now handle a higher volume of transactions per second, making it more scalable. In terms of security, bip-91 introduced Segregated Witness (SegWit), which separates transaction data from signature data. This not only reduces the size of transactions but also mitigates the risk of transaction malleability, making digital currencies more secure. Overall, bip-91 is a significant step forward in improving the scalability and security of digital currencies like Bitcoin.
  724

  242
• Samir KumarOct 18, 2023 · 2 years ago
  BYDFi, a leading digital currency exchange, recognizes the importance of bip-91 in enhancing the scalability and security of digital currencies. With the implementation of bip-91, the block size limit of Bitcoin was increased, allowing for more transactions to be processed in each block. This improves the scalability of Bitcoin, making it more efficient in handling a larger volume of transactions. Additionally, bip-91 introduced Segregated Witness (SegWit), which reduces transaction sizes and enhances the security of digital currencies. BYDFi fully supports the implementation of bip-91 and believes that it plays a crucial role in advancing the scalability and security of digital currencies.
  699

  175