Segregated Witness is cool
Pieter Wuille gave a fantastic presentation on “Segregated Witness” in Hong Kong. It’s a great idea, and should be rolled into Bitcoin as soon as safely possible. It is the kind of fundamental idea that will have huge benefits in the future. It also needs a better name (“segregated” has all sorts of negative connotations…).
You should watch Pieter’s presentation, but I’ll give a different spin on explaining what it is (I know I often need something explained to me a couple different ways before I really understand it).
So… sending bitcoin into a segregate witness-locked output will look like a weird little beastie in today’s blockchain explorers– it will look like an “anyone can spend” transaction, with a scriptPubKey of:
PUSHDATA [version_byte + validation_script]
Spends of segregated witness-locked outputs will have a completely empty scriptSig.
The reason that is not insane is...
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