SegWit is an abbreviation for "Segregated Witness." It is a specification that removes signatures from
the calculation of transaction IDs, creates a separate signature area (Witness) independent of the transaction, and places the signature there.
Adopting SegWit increases the number of transactions that can be included in a single blockchain block, speeds up transaction confirmation, helps alleviate congestion, and, as speeds increase, is expected to reduce transaction fees. Even if
the signature is attacked, the transaction ID remains unaltered, which helps prevent issues caused by transaction malleability.
SegWit helps alleviate block size limitations and is said to allow the block weight to be capped at 4MB.
While the theoretical maximum block size is approximately 4MB, in practice, the average block size can be kept around 1.7MB.
SegWit-compatible wallets use an encoding method called Bech32, which employs a specific character known as a separator, resulting in Bitcoin addresses that begin with "bc1".
Transactions cannot be sent to addresses starting with "bc1" from wallets that do not support SegWit.
