Subject: Re: [bitcoin-dev] NIST 8202 Blockchain Technology Overview

From: Peter Todd <[email-masked]>
Date: Tue, 30 Jan 2018 02:22:55 -0500

On Tue, Jan 30, 2018 at 03:30:21AM +0000, CANNON via bitcoin-dev wrote:
> On 01/30/2018 01:43 AM, CANNON via bitcoin-dev wrote:
> > 
> > 
> > -------- Forwarded Message --------
> > Subject: RE: NIST 8202 Blockchain Technology Overview
> > Date: Mon, 29 Jan 2018 12:25:05 +0000
> > From: Yaga, Dylan (Fed) <[email-masked]>
> > To: CANNON <[email-masked]>
> > 
> > Thank you for your comments.
> > You, along with many others, expressed concern on section 8.1.2.
> > To help foster a full transparency approach on the editing of this section, I am sending the revised section to you for further comment. 
> > 
> > 8.1.2	Bitcoin Cash (BCH)
> > In 2017, Bitcoin users adopted an improvement proposal for Segregated Witness (known as SegWit, where transactions are split into two segments: transactional data, and signature data) through a soft fork. SegWit made it possible to store transactional data in a more compact form while maintaining backwards compatibility.  However, a group of users had different opinions on how Bitcoin should evolve  and developed a hard fork of the Bitcoin blockchain titled Bitcoin Cash. Rather than implementing the SegWit changes, the developers of Bitcoin Cash decided to simply increase the blocksize. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.
> > 
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> > [email-masked]
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> > 
> 
> This is much better than the original. My question, the part where it says segwit makes transactions more compact, I thought that transactions are not more compact but rather they just take advantage of extra blockspace beyond that of 1 MB? Yes they would appear to be more compact to un-upgraded nodes due to the witness being stripped, but the transactions are not actually more compact right?

That's absolutely right; this is why segwit is a blocksize increase first and
foremost rather than some kind of transaction size optimization.

It'd be good to get that corrected as well.

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org