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SegWit (Segregated Witness)
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What does SegWit (Segregated Witness) mean in crypto terms?
SegWit, or Segregated Witness, is an upgrade to the Bitcoin protocol that was activated in August 2017. It is designed to solve scalability issues and improve the speed and efficiency of the network. SegWit works by segregating the witness information (i.e., signature data) from the transaction data, effectively allowing more transactions to fit within a single block. This process increases the block size limit on the blockchain and helps in mitigating transaction malleability. By improving the efficiency of transaction data storage, SegWit enhances the overall capacity of the Bitcoin network, enabling faster, cheaper transactions, and paving the way for advanced scaling solutions like the Lightning Network.
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