Bitmain Suddenly Increases Antpool Hashrate on Litecoin, to Block Segwit Activation?

On April 17, Bitmain’s mining pool Antpool’s hashrate abruptly surged by around 20 percent in a period of few hours, from 200 to nearly 500 GH/S. Some members of the bitcoin community accused Bitmain of deliberately preventing the activation of Segregated WItness (Segwit) on Litecoin.

As Coinbase Director of Engineering and Litecoin founder Charlie Lee confirmed, on April 12, Segwit reached its 75 percent activation threshold on Litecoin. Following the successful signaling of Segwit, its activation period began on April 14, set to continue for two additional weeks.

For Segwit to be fully activated on Litecoin, it needs over 75 percent support from miners during that two week period. If it fails to maintain its support threshold for 14 days, even if the initial threshold of 75 percent was met, Segwit will not be activated on Litecoin.

Bitmain’s Antpool is suspected of increasing its hashrate allocation to Litecoin significantly with the intent of postponing the activation of Segwit. Two days ago, traders and analysts within the Litecoin community stated that if Antpool’s hashrate is sustained

Read more ... source: TheBitcoinNews

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