How does SegWit differ from legacy in the world of digital currencies?

3 answers

• Alpha Boubacar DiabyJun 06, 2024 · a year ago
  SegWit, short for Segregated Witness, is a protocol upgrade implemented in certain digital currencies like Bitcoin. It differs from legacy systems in several ways. Firstly, SegWit separates transaction data from signature data, allowing for more efficient use of block space. This results in increased transaction capacity and reduced fees. Additionally, SegWit fixes the transaction malleability issue, which was a vulnerability in legacy systems. Overall, SegWit improves the scalability and security of digital currencies.
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• Priyansh ShahJan 19, 2023 · 3 years ago
  SegWit is like a modernized version of legacy systems in the world of digital currencies. It introduces a new way of storing transaction data that optimizes block space and enhances the overall efficiency of the system. By separating the signature data, SegWit allows for more transactions to be included in each block, leading to faster and cheaper transactions. This upgrade has been widely adopted by various digital currencies, as it addresses some of the limitations of the traditional systems.
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• KT_15Dec 23, 2021 · 4 years ago
  In the world of digital currencies, SegWit is a game-changer. It revolutionizes the way transactions are processed and brings significant improvements to the system. With SegWit, transaction capacity is increased, allowing for more transactions to be processed in each block. This not only reduces congestion but also lowers transaction fees. The introduction of SegWit has been met with positive reception from the digital currency community, as it paves the way for further advancements in the industry.
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