What Is SegWit?

The primary purpose of launching SegWit is to optimize the speed and performance of transactions in the blockchain. Note, however, that the first digital currency to use SegWit was LiteCoin instead of Bitcoin.
SegWit can reduce the volume of transactions in a block by breaking and splitting it into two parts. This method completely halved the number of transactions in a block.

Each transaction consists of two parts. The first part is the e-wallet address of the sender and the recipient, and the second part contains the witness data in which the transaction signatures place. With the introduction of SegWit, the second part of the transaction, which was Witness data, was deleted. In this case, the transaction required less space to be in the block and reduced the volume of the block to half the previous size.
In addition, SegWit provides a way for users to change transaction hashes in the blockchain. Changing even one character in a digital signature can change the entire hash of a transaction. In SegWit, it is impossible to change the transaction ID due of the signature removes from the transaction, and the witness data is deleted. However, this method makes the transaction more flexible.