What Is a ‘Virtual Byte’ (Vbyte) in Bitcoin Transaction Sizing?
A virtual byte (vByte) is the unit of measure for transaction size introduced with the SegWit upgrade. It is a weighted measure, where the 'witness' data (like signatures) is counted as 1/4 of a regular byte.
This allows SegWit transactions to be prioritized and fit more data into the block weight limit, optimizing block space usage.
Glossar
Vbyte
Concept ⎊ The Vbyte, originating within the cryptocurrency derivatives space, represents a discrete unit of volatility, specifically calibrated to reflect the magnitude of price fluctuations within a defined period.
Virtual Byte
Unit ⎊ A Virtual Byte, or vByte, is the standardized unit of measurement representing the weighted size of a transaction on the Bitcoin network, a concept introduced by the Segregated Witness soft fork.
Block Weight Limit
Constraint ⎊ The Block Weight Limit is a protocol-enforced constraint defining the maximum permissible size for a block, measured in units of weight rather than raw bytes.
VByte Calculation
Computation ⎊ VByte calculation represents a variable-length encoding scheme utilized extensively within blockchain technologies, notably Bitcoin, to efficiently represent unsigned integers.