Question - What is segwit?
A:Segregated Witness (SegWit) is the protocol update aimed to solve the Bitcoin network's scalability problem and increase its throughput. The solution was created by the Bitcoin Core developers team. The update splits transaction into two parts and transports the signatures ("witnesses")—which constitute over 50% of the whole block—required for "unlocking" Bitcoin obtained at the end of the transactions outside the main block.
SegWit was activated on August 24, 2017. The update allowed for the development and implementation of off-chain solutions such as the Lightning Network.
SegWit was also introduced in the Litecoin, DigiByte, Groestlcoin, and Vertcoin blockchains.