Initially, SegWit is a feature that should be added to Bitcoin.
The Bitcoin network is so overloaded that transactions take too long to confirm - and that's where SegWit comes in as an alternative.
some people believe that this feature makes the network more insecure, while others are strong supporters.
Because Bitcoin does not agree to implement SegWit, Litecoin agrees to use the new technology - making its value jump from about $ 4 to under $ 30.
Apart from the functions described above, SegWit also offers an opportunity for lightning transactions - transactions that are met almost in real time, without having to wait for confirmation.
So now, because so many people argue that SegWit is not secure, reddit users have challenged critics to try to hack one of the transactions.
Many people have said that segwit is unsafe because the segwit coins are 'anyone-can-spend' and can be stolen. So let's test this. I installed $ 1MM LTC to address segwit. You can see that segwit address because I send and spend 1 LTC first to reveal redeemscript. Let's see if segwit is actually 'anyone-can-spend' or not.
Until now, 10 days after the bounty hunt begins, no one has managed to hack SegWit transactions.
Although countless critics have always supported the technology because of the lack of security, yet no one can really prove their theory.