Charlie Lee Sums Up Litecoin’s 10 Years History. Part Four: SegWit Activation
Today is the day, Litecoin’s 10th anniversary. Congratulations to Charlie Lee and everyone involved in the project over the years. We are exploring Litecoin’s history through the eyes of its creator. We covered its fair launch, the long-hard road to exchanges adopting LTC, and we introduced the SegWit story. It’s time to finish it. The last time, we introduced Bitmain’s co-founder Jihan Wu. Reportedly, he was singlehandedly stopping SegWit adoption in the Bitcoin blockchain. Lee’s plan was to use Litecoin as a Testnet of sorts for SegWit. “I realized that here’s a chance for....
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The last time we checked with Litecoin, its creator Charlie Lee left Coinbase to focus on his own project. The mission at hand was implementing SegWit in the Litecoin blockchain, which is easier said than done. This story is as exciting as they come. It has twists and turns and it ends with a bang. Through the following tale, we’ll learn a lot about consensus. One of the most mysterious aspects of the cryptocurrency space is how decisions are made. Are you ready to learn through a practical example? Related Reading | Charlie Lee Sums Up Litecoin’s 10 Years History. Part One: Fair....
It’s great that the founder decided to give us one more chapter of Litecoin‘s story. Let’s tie up loose ends and wrap this whole series with a bow on top. As it turns out, Charlie Lee returned to his job at Coinbase. Was the company more supportive this time around? Plus, as we warned you last time, at one point Lee sold all of his LTC. What were his reasons to do that? Did he have a plan? And, more importantly, did the plan work? Related Reading | Charlie Lee Sums Up Litecoin’s 10 Years History. Part Two: Exchanges + Betrayal Learn all of that and more in the concluding chapter of....
Litecoin creator Charlie Lee believes that the price of the digital currency could reach $14 when SegWit is activated on the network. On Saturday, F2Pool mined Segregated Witness (SegWit) blocks for both Bitcoin and Litecoin. Charlie Lee tweeted that he sees a 72.34 percent chance of another pool signaling for SegWit in the next seven days. He equates the estimated prices to the level of signaling the network has received thus far: 20 percent => $4, 60 percent => $9, 100 percent => $14. There are indications the network will activate SegWit soon. It creates excitement - even in....
Brian Armstrong, CEO and co-founder of Coinbase, has called for the activation of segwit, a controversial protocol update of the bitcoin network which adds further transaction capacity while largely fixing transaction malleability to pave the way for the Lightning Network. Armstrong stated segwit is “prob[ably] the best path forward for bitcoin at this point,” before calling on everyone to “come together and move forward as an industry. Activating SegWit can help us get there and it has a number of good features.” His statement was in reply to Charlie Lee, Litecoin’s founder and Director....
Litecoin’s problematic course towards Segregated Witness (SegWit) activation has ended in an unusual display of unity. Litecoin Roundtable: We ‘Unanimously Agree’ On SegWit Activation. Following a meeting of Chinese cryptocurrency players including exchanges and miners, a consensus was reached on activating SegWit despite some participants having previously been against the idea. The so-called Litecoin Global Roundtable included Litecoin creator Charlie Lee, exchanges Huobi and Okcoin and formerly anti-SegWit mining pool Bitmain. Summarized minutes released from the meeting confirm that....