Litecoin Has Now Deployed Segregated Witness

It’s official. Litecoin, one of the oldest and biggest altcoins by market cap, deployed Segregated Witness (SegWit) today. The protocol upgrade that was originally developed for Bitcoin and proposed by the Bitcoin Core development team locked in on Litecoin two weeks ago, and was enforced by a majority of hash power on the Litecoin network as of a couple of hours ago.

The Segregated Witness soft fork activated without major issues — though there was an early slip up by the biggest Litecoin mining pool on the network.

“F2Pool had a hiccup where they were not mining Litecoin correctly. For some reason their LTC pool was returning a BTC template to miners. We reached out to them and they fixed it right away,” Litecoin inventor Charlie Lee told Bitcoin Magazine.

SegWit

Launched in 2011, Litecoin was one of the first altcoins to gain significant traction. As opposed to some newer altcoins like Ethereum, Ripple and Monero, Litecoin is a straight fork of Bitcoin’s codebase but with a different mining algorithm and some changed parameters, such as faster confirmation times. This similarity to Bitcoin does mean that Litecoin suffers from similar weaknesses as Bitcoin, like

Read more ... source: Bitcoin Magazine

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