What is SegWit in cryptocurrencies?

SegWit is a blockchain protocol update developed in 2015 to address the scalability and throughput issues that blockchain networks face today. For example, in the Bitcoin network, validation of a new block with transactions takes about 10 minutes. The number of transactions that can be confirmed in each block depends on the block size. The main purpose of SegWit is to keep signatures separate from transaction information. This allows you to increase the number of transactions in one block and thereby increase throughput.