10 min. read • Published 2020-08-20
SegWit (Segregated Witness) improves the transaction throughput on a blockchain network by separating a transaction into two sections. The first part contains the wallet addresses of the sender and receiver and the second part contains transaction signatures (witness data).
SegWit removes the witness data from the main block, therefore greatly reducing transaction size. This increases the amount of transactions that can be included in a block of the same size and the capacity of the Bitcoin network.
Interestingly, the first cryptocurrency to use SegWit was Litecoin and not Bitcoin.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.