Quote from: romanornr on December 16, 2016, 09:27:55 AM

Quote from: PilotofBTC on December 15, 2016, 09:12:28 PM

Is seg wit really needed? With block times of 1 minute and the same block size as bitcoin shouldn't the transaction velocity be 10x that of bitcoin?

No SegWit's main purpose isnt a capacity increase. It's for fixing malleability & making scripting easier to upgrade.
It also fixes some long-standing issues, like quadratic hashing.

With third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain.
With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients.

Reduced UTXO growth will benefit miners, businesses, and users who run full nodes
which in turn helps maintain the current security of the Viacoin network as more users enter the system.
Users & developers who help minimise the growth of the UTXO set will benefit from lower fees compared to those who ignore the impact of their transactions on UTXO growth.

Easier changes to script opcodes will make advanced scripting in Viacoin easier.
This includes changes such as introducing Schnorr signatures, key recovery to shrink signature sizes, supporting sidechains & creating even smarter contracts by
using Merklized Abstract Syntax Trees (MAST) and other research-level ideas.

this should be required reading for everyone marginalizing segwit
(either out of ignorance or outright stupidity)