THELOGICALINDIAN - The Segregated Witness SegWit amend has receivedlukewarmsupport appropriately far back it was appear on Litecoin on January 28th
After Bitcoin, the SegWit ascent update has now been introduced to Litecoin forth with some other cryptocurrencies including Vertcoin, Groestlcoin, and Viacoin.
Right now, Litecoin miners are in the action of voting on the update. Currently at 3%, support is lower than it is in Bitcoin, which rapidly climbed up to 22% in its first two weeks.
The vote has admiring the absorption of the Bitcoin community. Litecoin (and added coins) could become a testbed for the abeyant SegWit soft-fork on Bitcoin, and could action a bastard peek as to how this amend fares in the absolute world. Moreover, SegWit may accept bigger affairs on Litecoin since its activation beginning is aloof 75% compared to Bitcoin’s 95%.
But this “testbed” mentality may be allotment of the acumen why Litecoin users are not so acquisitive to actuate the update, which would accomplish them, in a sense, Bitcoin’s ‘lab rat.’ Dubbed the “silver to Bitcoin gold,” it currently has a bazaar cap of about $198 actor USD, which could be abnormally affected if the amend goes sour.
Nevertheless, the SegWit amend is supported by Litecoin architect Charlie Lee.
In a afresh captivated Reddit AMA (in Chinese), he stated:
Meanwhile, LTC1BTC architect Jiang Zhuoer stated that his pool, which controls 10% of the network, will not abutment the SegWit update. His motives, however, assume to axis anon from the Bitcoin debate.
“Why do the Bitcoin Core developers say that the Segwit bendable angle basically fixes every band of Bitcoin’s code? Zhuoer said. “As the complication of a arrangement increases, it follows that the adherence of that arrangement charge decrease.”
Still, added pools accept approved their abutment for SegWit. F2Pool, the better Litecoin basin with 45.6% of the network’s assortment rate, appear it will arresting their abutment for SegWit in the advancing weeks.
Since Litecoin has a baby cardinal of users compared to Bitcoin, ascent is not absolutely a acute affair at the moment. Though SegWit was alien to Bitcoin as a ascent solution, it additionally introduces added appearance and paves the way for added upgrades such as the Lightning Network.
Lee explained the motive for acknowledging SegWit saying,
During the AMA, Lee additionally bidding his assessment apropos the alternatives that accept been proposed, reassuring that Litecoin will stick to SegWit.
When asked what will Litecoin do if Bitcoin goes with Bitcoin Unlimited and FlexTrans, he said:
Charlie Lee is currently captivation addition AMA cilia on this affair (in english) here.
Will Litecoin pave the way for Bitcoin’s SegWit? Or will it abort to ability consensus?
Images address of Shutterstock, Twitter, litecoinpool.org
