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What is SegWit (Segregated Witness)? by futuremind

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Viewing a response to: @awesomianist/p3hm6m875

· @futuremind ·
What is SegWit (Segregated Witness)?
<a href="https://musing.io/q/awesomianist/p3hm6m875">View this answer on Musing.io</a><br />
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json_metadata"{"app":"Musing","appTags":["Bitcoin","Blockchain","software"],"appCategory":"Bitcoin","appBody":"<p>&nbsp;</p>\n<h2><strong>DEFINITION of 'SegWit (Segregated Witness)'</strong></h2>\n<p>SegWit is the process by which the <a href=\"https://www.investopedia.com/terms/b/block-bitcoin-block.asp\">block</a> size limit on a <a href=\"https://www.investopedia.com/terms/b/blockchain.asp\">blockchain</a> is increased by removing signature data from Bitcoin transactions. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain.</p>\n<p>Segregate means to separate, and Witnesses are the transaction signatures. Hence, Segregated Witness in short, means to separate transaction signatures.</p>\n<p>The concept of SegWit was formulated by bitcoin developer&nbsp;Pieter Wuille.</p>\n<p>Source:</p>\n<p>https://www.investopedia.com/terms/s/segwit-segregated-witness.asp</p>","appDepth":2,"appParentPermlink":"p3hm6m875","appParentAuthor":"awesomianist","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
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@awesomianist ·
What is SegWit (Segregated Witness)?
<p>Any ELI5 version? I can read the source itself you know...</p>
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@futuremind ·
What is SegWit (Segregated Witness)?
<p>My simplest understanding is, it's a process where data is removed from the blockchain so other data will have more space within the blockchain.</p><p>The data that is removed and made separate is the transaction data, hence the reason the witnesses nodes are considered "separate" or "segregated". I hope this makes sense somewhat. </p>
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