the Discount witness It indicates a decrease in the “weight” data granted to the witness part of the Bitcoin treatment – the part that contains the signatures used to prove ownership. It was implemented as part of the 2017 separate witnesses for the year 2017 (Segwit), and this discount has effectively reduced the fees of Segwit transactions by making witness data less when calculating the total volume of the transaction.
In simpler phrases, the witness data gets 75 % discount, which means that it is considered only a quarter of its actual size when determining the amount of the space it occupies in the Bitcoin mass. This allows more transactions for each block and reduces the costs of users who adopt portfolios that support Segwit.
But why is the witness's discount in the first place? What is the purpose of giving witness data this special transaction? The answer is associated with the long challenges of the long bitcoin, and the need to increase the treatment capacity without repairing the network with a solid -fragrant, risky fork. In this article, we explore the purpose of the deduction of witnesses, how it works, and why it continues today.
Main meals
- Discount witness: A discount that is applied to the size of the “witness” (or signature) part of the Bitcoin treatment, which reduces the fees.
- Part of SegwitWitness deduction is part of the SEGWit witness, which has solved the problem of long -length treatment and effectively increasing the size of the Bitcoin mass.
- Expansion: Bitcoin transactions are more efficient, allowing more transactions for each block.
The purpose of the witness's discount
The witness's discount was presented as part of Segwit, a major upgrade to the Bitcoin protocol that separated the transaction data into two parts: basic treatment data and witness data (most of them are digital signatures). In essence, the witness data was given “discount” in terms of the importance of the total mass size.
Before Segwit, the Bitcoin block size was crowned at 1MB. Segwit brought an increase in the size of the indirect mass by applying “weight” less on the witness's data-and thus enabling more transactions for each block without exceeding the limit of 1MB for unreasonable contract.
The witness's opponent achieves a decisive goal: it allows more transactions to suit a block while maintaining compatibility with the old nodes that are not promoted to Segwit.
How to work
When the Bitcoin transaction occurs, the basic elements of this transaction are recorded – such as the amount of bitcoin that are sent and the addresses concerned -. However, there is another component called the “witness”, which stores the signatures that prove the ownership of the transferred bitcoin.
- pre: Before Segwit, all parts of the transaction were treated evenly in terms of the amount of space they consumed in a block.
- After follow -upAfter Segwit, the witness data (signatures) are stored separately from the rest of the treatment databases. This chapter allows more transactions to suit a block, as the witness data is set with a lower weight, giving it a 75 % discount. The full treatment under Segwit, which can take previously, for example, 300 byte, now only contribute to less than this size to the total weight of the mass.
This reduces the fees for users who choose the wallets that support Segwit since the fees are calculated on the basis of the apparent size of the treatment, which is now lowering the witness data.
History and logical basis
The story behind the witness's discount is due to the wars of the mass size in 2015-2017. At that time, Bitcoin community was involved in hot discussions on how to expand the network range. The sizes of larger blocks would allow more transactions for each block, but directly increasing the mass volume (via a solid fork) was controversial. He risked the centrality of the network, as it is difficult to spread the largest blocs and store them for a decrease with a least domain and storage.
SegwitPeter Will suggested, was presented as a middle solution. I dealt with the problem of scaling by creating a “effective” block space without having a difficult thorn. This is where the witness's opponent has become important. By deducting the witness data, Segwit has effectively expanded the number of transactions that can be compatible with a block while maintaining rear compatibility.
In simpler phrases, Segwit Bitcoin allowed her cake and also eating: More transactions for each block without the risk of destabilizing the network.
Pros and negatives
Pros:
- Increase the efficiency of the massThe witness's discount allows more transactions for each block, which indirectly increases the size of the Bitcoin block and keeps it indirectly compatible with the flying nodes.
- Less fees for Segwit users: Since witness data is given a lower weight, Segwit transactions tend to be smaller, which means a decrease in transactions for users.
- Augmented securitySegwit has solved the problem of transaction transactions, which makes bitcoin transactions safer, which is especially important for the second layer solutions like the lightning network.
- Improving expansion: By reducing the data burden on each treatment, the witness's discount improves the ability to expand in Bitcoin.
cons:
- complexitySegwit, including the deduction of witnesses, adds layers of complexity to the protocol, which some fundamentalists in society view as unnecessary.
- It was not fully adoptedWhile the deduction of witnesses encouraged the use of Segwit, many governor and exchanges were slow to adopt, which means that its benefits are not experienced globally.
Witness deduction in exchange for increasing the size of the mass
One of the main discussions in the Bitcoin measuring epic was to increase the size of the mass directly or to implement a solution like Segwit, which indirectly increased the size of the mass. So, how does the witness discount simply compares to raise the size of the mass?
Increase the size of the mass:
- The direct increase in the number of transactions that a block can carry.
- It increases the burden on the nodes, which requires more storage and display of the frequency range to keep up with the network.
- It requires a solid fork, which can divide the network (as shown in Bitcoin Cash).
Segwit discount:
- It achieves a similar result (increased transaction capacity) without a difficult thorn.
- Reduces the costs of transactions for users who benefit from Segwit.
- It does not impose additional burdens on the nodes, making it more sustainable in the long run.
Basically, witness discount achieves a target for more transactions for each bloc without compromising a bitcoin centralization, which is a major principle of network design philosophy.
Related questions (common questions)
Why is the 75 % witness discount?
There is a discount of 75 % of witnesses because witnesses-which include digital signatures-do not contribute in the long-term size of the UTXO group that the contract must be stored permanently. Since this data is only required to verify the authenticity of transactions and can be ignored after that, it has a lower effect on node resources compared to non -delicious data.
With the sigwit upgrade, the volume of the transaction is measured in weight units (WU) instead of the bitches. Non-delicious data is set 4 WU per peri, while the 1-wu witness data is set for 1: 4. This means that witness data is actually calculated as 25 % of its original size, which leads to 75 % discount.
The choice of 1: 4 was a deliberate balance between stimulating Segwit's adoption, maintaining network efficiency, and maintaining security. It provides more transactions for each block while ensuring compatibility with pre -segwit rules, which enhances the ability to expand in bitcoin without sacrificing decentralization.
Does the witness's discount mean larger segwit blocks?
Yes, in practice, Segwit blocks can be larger than a 1MB mass before Segwit. However, the way the mass weight is calculated means that Segwit blocks are more efficient in storing data, so more transactions – that are not counted for weight as before – in a block.
What happens if I don't use Segwit?
Other than segwit transactions from witness deduction, which means that they occupy more space in a block and usually bear higher fees. However, it is still completely valid and can be treated with the network.
Is the witness deduction here to stay?
As of now, there are no plans to remove the witness's discount. It remains an important part of Bitcoin's expansion strategy and is widely considered a success in improving network efficiency without prejudice to decentralization or security.
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