Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Bitcoins are created as a reward for payment processing work in which users offer their computing powerRead more
On Today at 12:58:20 PM Beginners Help Moderator: MiningBuddy 67084 Topics Last post by DdmrDdmr in Re: ASK - Increase BTT. Unlike credit cards, any fees are paid by the purchaser notRead more
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Alice pays Bob in transaction 1, Bob uses that payment to pay Charlie in transaction 2, and then Alices payment gets malleated and confirmed with a different txid, then transaction 2 is now invalid and Charlie has not been paid. However, the design of script only allows backwards-compatible (soft-forking) changes to be implemented by replacing one of the ten extra OP_NOP opcodes with a new opcode that can conditionally fail the script, but which otherwise does nothing. When a hardware wallet signs a transaction, it can easily verify the total amount being spent, but can only safely determine the fee by having a full copy of all the input transactions being spent, and must hash each of those to ensure. Segwit resolves this by including a version number for scripts, so that additional opcodes that would have required a hard-fork to be used in non-segwit transactions can instead be supported by simply increasing the script version. This provides the same functionality more efficiently, so that large transactions can still be generated without running into problems due to signature hashing, even if they are generated maliciously or much larger blocks (and therefore larger transactions) are supported. Removing the quadratic scaling of hashed data for verifying signatures makes increasing the block size safer. If Bob is trustworthy, he will reissue the payment to Charlie; but if he isnt, he can simply keep those bitcoins for himself. This benefit is only available when spending transactions sent to segwit enabled addresses (or segwit-via-P2SH addresses). More generally, if one or more of the signers of the transaction revise their signatures then the transaction remains valid and pays the same amounts to the same addresses, but the txid changes completely because it incorporates the signatures. Note: segwit transactions only avoid malleability if all their inputs are segwit spends (either directly, or via a backwards compatible segwit P2SH address). Since segwit cant fix the problem, it settles on not making it worse: in particular, rather than introducing an independent limit for the segregated witness data, instead a single limit is applied to the weighted sum of the utxo data and the witness data, allowing.
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Segwit improves the situation here by making signature data, which does not impact the utxo set size, cost 75 less than data that does impact the utxo set size. Script versioning, changes to Bitcoins script allow for both improved security and improved functionality. However adding the second constraint makes finding a good solution very hard in some cases, and this theoretical problem has been exploited in practice to force blocks to be mined at a size well below capacity. The previous text was: Compact fraud proofs As the Bitcoin userbase expands, validating the entire blockchain naturally becomes more expensive. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. This is sufficient for many changes such as introducing a new signature method or a feature like OP_cltv, but it is both slightly hacky (for example, OP_cltv usually has to be accompanied by an OP_drop) and cannot be used to enable even features as simple. Fraud proofs allow SPV users to help enforce Bitcoins consensus rules, which will potentially greatly increase the security of the Bitcoin network as a whole, as well as reduce the ways in which individual users can be attacked. For example, you could submit a transaction with txid ef74c309 to the network, but instead find that a third-party, such as a node on the network relaying your transaction, or the miner who includes your transaction in a block, modifies the transaction slightly, resulting. The Segregated Witness soft-fork (segwit) includes a wide range of features, many of which are highly technical. For efficient operation of the network, this database needs to be very quick to query and modify, and should ideally be able to fit in main memory (RAM so keeping the databases size in bytes as small as possible is valuable. Segregating the signature data allows nodes that arent interested in signature data to prune it from the disk, or to avoid downloading it in the first place, saving resources. Everyone paying to multisig or smart contracts via segwit benefits from the extra security provided for scripts.
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