If one offer vehement attendees during a new Scaling Bitcoin seminar in Hong Kong, Bitcoin Core and Blockstream, it was developer Dr. Pieter Wuille’s Segregated Witness. Praised by many within a technical community, Segregated Witness is approaching to urge Bitcoin’s opening in a array of ways, while some even wish it competence be a scaling resolution that helps move some assent behind to a Bitcoin community.
In this initial partial of Bitcoin Magazine’s three-part array on Segregated Witness: how it works.
What are Bitcoin exchange again?
In sequence to know Segregated Witness, it is useful to know what Bitcoin exchange are on a some-more technical level. (Feel giveaway to skip to a final territory of this essay if this is a informed subject.)
For starters, it’s critical to comprehend that a Bitcoin protocol, during a core, consists of transactions. Nodes on a peer-to-peer network don’t send any other bitcoin; they send any other packages that enclose transaction data.
These Bitcoin transactions, in a way, are unequivocally sets of “locks.” More specifically, any transaction contains dual categorical components. One half effectively unlocks bitcoin that were sealed adult in prior transactions, using