Here is an article about Ethereum: Requirements for Receiving and Sending SegWit Transactions:
Understanding SegWit
Segregated Witness (SegWit) is a new block size adjustment for the Ethereum network that aims to improve the scalability and usability of the blockchain. To accommodate this change, Ethereum introduced two separate addresses for sending and receiving SegWit transactions: m/0’/1’/0.
What do these addresses look like?
These addresses are in the format `m/0''/1''/0'', where:
m'' is a prefix indicating that it is a SegWit address
0'' is the Segwit block size adjustment number
1'' is the witness type number (e.g. 1 for a fixed-time proof, or 2 for a variable-time proof)
0'' is the transaction priority level
How do these addresses work?
To send SegWit transactions, you need to create a new block and include two special addresses:m/0''/1''$ andm/1''/0''. These addresses are used to send and receive SegWit transactions.
When sending a transaction, the sender creates a new block with these two addresses as their signature. The second address is used as a `tag'', indicating which transaction to include in the block.
Before including the transaction in its block, the recipient verifies that it has the correct signature (i.e., addresses “m/0”/1'$” and “m/1'/0”’).
Basic Requirements for Accepting SegWit Transactions
To accept SegWit transactions, you must:
- Have a Compatible Wallet: You will need a wallet that supports Ethereum wallets with SegWit-compatible features (e.g., addresses “m/0”/1'$” and ‘m/1'/0’).
- Install the Required Software: Make sure you have the latest version of your Ethereum wallet software installed on your computer.
- Have Enough Memory and Storage
: SegWit transactions require more memory and storage than regular transactions, so make sure your computer has enough resources to process them.
- Configure your wallet settings
: You may need to adjust your wallet settings to be able to perform SegWit transactions.
Additional questions
While SegWit is a significant improvement over the previous block size adjustment (1MB), it is important to keep in mind that:
- SegWit transactions require more memory and storage, which can impact the overall performance of the Ethereum network.
- There may be additional difficulties when sending and receiving SegWit transactions.
If you are new to SegWit or Ethereum, it is recommended to start with a testnet wallet or development environment before attempting to use SegWit on the mainnet.