Author: Ariel Lorenzo-Luaces 2017-11-20 17:39:11
Published on: 2017-11-20T17:39:11+00:00
In a discussion on the bitcoin-dev mailing list, Praveen Baratam asked why SegWit changed the format of transaction serialization. The original method of referencing transactions by the hash of transaction and signature was deemed to be an oversight by Satoshi, and changing it would require a hard fork. Instead, SegWit proposes extracting the signature outside of the old client's transaction format and into a new transaction format, which can be achieved through a soft fork. In this way, transactions can still be referenced by their hash, but with the added benefit of improved scalability and security.
Updated on: 2023-06-12T22:16:39.353696+00:00