What is Segwit?

Segwit

Segwit is an abbreviation for Segragated Witness.

It is one of the solutions to the scalability problem faced by cryptocurrency transactions.

Since Bitcoin (BTC) is limited to 1MB per block, it cannot handle an increase in transaction data, resulting in delays in the approval process. (Scalability problem)

In other words, Segwit is a technology that enables more data to be put into blocks by organizing the format of transactions to be put into blocks.

However, there are cases where miners have difficulty with this because they need to prepare mining machines that support Segwit.

In summary, Segwit is a feature that organizes Bitcoin transaction data to store more transactions in a single block.

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