Bitcoin Cash Wallet App Developer Says SegWit Puts Extreme Trust in Miners

Bitcoin Cash Wallet App Developer Says SegWit Puts Extreme Trust in Miners

Jonald Fyookball, Bitcoin Cash wallet app developer has once more spoken out against Segregated Witness (SegWit) stating that they “actually remove an integrity check in the Bitcoin ledger”. A hypothetical situation in which a miner excludes witness data from a transaction block which removes the chance for non-miners to validate its legitimacy.

This is not the first time that he has spoken out against SegWit. He believes that while miners are still responsible for confirming the probity of all transactions which have happened in the past and which will take place in the future, SegWit means that responsibility lies even heavier.

He goes on to share his views stating that in case a miner is careless, malignant, pressurized or suffers a software bug that results in signature “witness” not being published, how can they completely verify that those transactions are valid? He believes that the same happens in a situation of a 51 percent attack. He fears it will only take one such attach to reduce the trust of the people.

He goes on to question his doubts, saying that the chain may carry on in the absence of witness data if a miner’s reason for not including it was accepted. But what will happen in the case if it is later found out that the reason given was wrong and incorrect? Would the chain fork or will it keep going as it is?

“This is akin to wearing a belt AND suspenders for years to make sure your pants never fall down, then one day taking off the belt and proclaiming “I’m still wearing suspenders, what could go wrong?”

While the possibility of this situation happening is very rare, it is still possible and “the security model has undeniably changed,” Fyookball wrote. SegWit means users can prove custody of their coins, but not prove the custody of the chain. This composes the removal of a probity check, something which is important for all databases and in particular to Bitcoin.

Although Fyookball accepts that so far there have been no such cases which he described, adding he didn’t want to exaggerate the issue.

“There are always trade-offs and some may consider SegWit to be an acceptable trade off, perhaps arguing that Bitcoin has enough redundancy with a large number of archival nodes so that missing witness data is never a problem.”
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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.