Bitcoins block size calculation

Some developers call a unit of vsize by the name of vbyte [9] because the number of bytes and vbytes in a transaction are identical for legacy transactions. Weight for legacy transactions Transactions that don't use segregated witness segwit are currently called legacy transactions. For these transactions, calculating the number of weight units in a transaction is as easy as putting the transaction into the format used in a P2P protocol block message, counting the number of bytes, and multiplying by four.

For example, at the time of writing January , the most commonly seen transaction template in the block chain is a legacy transaction with one input using P2PKH with a compressed pubkey and two P2PKH outputs, or about bytes. Here's a byte map of that transaction template: To change from bytes to weight units, we simply scale everything up by a factor of four: At weight, to include the above transaction in a block consumes 0.

To convert from weight units to vbytes, divide the total by four. For legacy transactions, this means that vbytes are equal to bytes. Weight for segwit transactions Transactions that use segregated witnesses are called segwit transactions. For these transactions, calculating the number of weight units in a transaction is more complicated. The transaction is put into the format used by a P2P protocol block message segwit-enabled Each byte of the segwit marker, flag, and witness fields counts as one weight unit Each byte of the other fields in the transaction counts as four weight units For example, the segwit equivalent to the P2PKH transaction analyzed in the legacy section above would be a transaction with one input using P2WPKH and two P2WPKH outputs, or about bytes.

Here's a byte map of that transaction template with the segwit-specific fields highlighted in blue: To change from bytes to weight units, we use the method described above where the highlighted fields stay the same size but the other fields are multiplied by four. When displayed at the same scale, this makes it appear that the segwit fields have shrunk: At weight units, to include the above transaction in a block consumes 0. The exact amount of space saved by converting from legacy transactions to segwit transactions will vary depending on various transaction details.

To convert from weight units to vbytes, divide by four. For the example transaction above, this makes the transaction Note that fractional vbytes are possible, but they may not be compatible with legacy applications that expect only integer values, so it is recommended [10] to round up. For example, Bitcoin Core reports this transaction as having a vsize of vbytes. If all txins are not witness program, a transaction's wtxid is equal to its txid.

Commitment structure A new block rule is added which requires a commitment to the wtxid. The wtxid of coinbase transaction is assumed to be 0x A witness root hash is calculated with all those wtxid as leaves, in a way similar to the hashMerkleRoot in the block header.

The commitment is recorded in a scriptPubKey of the coinbase transaction. If there are more than one scriptPubKey matching the pattern, the one with highest output index is assumed to be the commitment. If all transactions in a block do not have witness data, the commitment is optional.

The value of the first push is called the "version byte". The following byte vector pushed is called the "witness program". There are two cases in which witness validation logic are triggered. Each case determines the location of the witness version byte and program, as well as the form of the scriptSig: Triggered by a scriptPubKey that is exactly a push of a version byte, plus a push of a witness program. The scriptSig must be exactly empty or validation fails.

The first one a signature, and the second one a public key. The HASH of the public key must match the byte witness program. The verification must result in a single TRUE on the stack. If the version byte is 0, and the witness program is 32 bytes: It is interpreted as a pay-to-witness-script-hash P2WSH program. The witness must consist of an input stack to feed to the script, followed by a serialized script witnessScript. SHA of the witnessScript must match the byte witness program. The script must not fail, and result in exactly a single TRUE on the stack.

If the version byte is 0, but the witness program is neither 20 nor 32 bytes, the script must fail. These versions are reserved for future extensions. Total size is the block size in bytes with transactions serialized as described in BIP , including base data and witness data.

Sigops Sigops per block is currently limited to 20, We change this restriction as follows: Sigops in the current pubkey script, signature script, and P2SH check script are counted at 4 times their previous value. This rule applies to both native witness program and P2SH witness program. Additional definitions The following definitions are not used for consensus limits, but are suggested to provide language consistent with the terminology introduced above. Base transaction size is the size of the transaction serialised with the witness data stripped.

Total transaction size is the transaction size in bytes serialized as described in BIP , including base data and witness data. Before large-scale deployment in the production network, developers should test the scripts on testnet with the default relay policy turned on, and with a small amount of money after BIP is activated on mainnet. A major difference at consensus level is described in BIP , as a new transaction digest algorithm for signature verification in version 0 witness program. Three relay and mining policies are also included in the first release of segregated witness at reference implementation version 0.

Softforks based on these policies are likely to be proposed in the near future. The witness must consist of exactly 2 items. The HASH of the pubkey in witness must match the witness program. Comparing with the previous example, the scriptPubKey is 1 byte bigger and the scriptSig is 23 bytes bigger. Although a nested witness program is less efficient, its payment address is fully transparent and backward compatible for all Bitcoin reference client since version 0.

The length of the witness program indicates that it is a P2WSH type. The increased size improves security against possible collision attacks, as work is not infeasible anymore By the end of , hashes have been calculated in Bitcoin mining since the creation of Bitcoin. Comparing with the previous example, the scriptPubKey is 11 bytes smaller with reduced security while witness is the same.

However, it also requires 35 bytes in scriptSig. Extensible commitment structure The new commitment in coinbase transaction is a hash of the witness root hash and a witness reserved value. The witness reserved value currently has no consensus meaning, but in the future allows new commitment values for future softforks. For example, if a new consensus-critical commitment is required in the future, the commitment in coinbase becomes: Double-SHA Witness root hash Hash new commitment witness reserved value For backward compatibility, the Hash new commitment witness reserved value will go to the coinbase witness, and the witness reserved value will be recorded in another location specified by the future softfork.

Any number of new commitment could be added in this way. Any commitments that are not consensus-critical to Bitcoin, such as merge-mining, MUST NOT use the witness reserved value to preserve the ability to do upgrades of the Bitcoin consensus protocol. The optional data space following the commitment also leaves room for metadata of future softforks, and MUST NOT be used for other purpose. Trust-free unconfirmed transaction dependency chain Segregated witness fixes the problem of transaction malleability fundamentally, which enables the building of unconfirmed transaction dependency chains in a trust-free manner.

Two parties, Alice and Bob, may agree to send certain amount of Bitcoin to a 2-of-2 multisig output the "funding transaction". Without signing the funding transaction, they may create another transaction, time-locked in the future, spending the 2-of-2 multisig output to third account s the "spending transaction". Alice and Bob will sign the spending transaction and exchange the signatures.

After examining the signatures, they will sign and commit the funding transaction to the blockchain. Without further action, the spending transaction will be confirmed after the lock-time and release the funding according to the original contract. It also retains the flexibility of revoking the original contract before the lock-time, by another spending transaction with shorter lock-time, but only with mutual-agreement of both parties.

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This introduction of a discount for certain fields in certain transactions lead to the development of the weight unit which allows easy comparison between transactions that contain the discounted fields and those that don't. Weight units were designed to be fully backwards compatible with all previous versions of Bitcoin Core even though blocks created after segwit activated may include up to almost four times as much data as they could previously.

For backwards compatibility with software using the earlier bytes metric [8] , virtual size vsize was introduced. A unit of vsize is equal to four weight units. Some developers call a unit of vsize by the name of vbyte [9] because the number of bytes and vbytes in a transaction are identical for legacy transactions.

Weight for legacy transactions Transactions that don't use segregated witness segwit are currently called legacy transactions. For these transactions, calculating the number of weight units in a transaction is as easy as putting the transaction into the format used in a P2P protocol block message, counting the number of bytes, and multiplying by four.

For example, at the time of writing January , the most commonly seen transaction template in the block chain is a legacy transaction with one input using P2PKH with a compressed pubkey and two P2PKH outputs, or about bytes. Here's a byte map of that transaction template: To change from bytes to weight units, we simply scale everything up by a factor of four: At weight, to include the above transaction in a block consumes 0.

To convert from weight units to vbytes, divide the total by four. For legacy transactions, this means that vbytes are equal to bytes. Weight for segwit transactions Transactions that use segregated witnesses are called segwit transactions. For these transactions, calculating the number of weight units in a transaction is more complicated. The transaction is put into the format used by a P2P protocol block message segwit-enabled Each byte of the segwit marker, flag, and witness fields counts as one weight unit Each byte of the other fields in the transaction counts as four weight units For example, the segwit equivalent to the P2PKH transaction analyzed in the legacy section above would be a transaction with one input using P2WPKH and two P2WPKH outputs, or about bytes.

Here's a byte map of that transaction template with the segwit-specific fields highlighted in blue: To change from bytes to weight units, we use the method described above where the highlighted fields stay the same size but the other fields are multiplied by four. When displayed at the same scale, this makes it appear that the segwit fields have shrunk: At weight units, to include the above transaction in a block consumes 0.

The exact amount of space saved by converting from legacy transactions to segwit transactions will vary depending on various transaction details. Now, we hit the "Calculate" button. Next, the calculator displays the amount of units that the 0. You might also find our Drawdown Calculator useful. It can help you to accurately calculate how your trading account equity can be affected after a series of losing trades.

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