Litecoin Reaches Agreement on Segwit Upgrade, Price Rises

Bitcoin Watch Shop

The litecoin miners and developers have reached an agreement to activate segregated witnesses (segwit) and to boost litecoin’s blocksize of 1MB once a blocks are over 50% of a currency’s capacity.

The agreement is sealed by Charlie Lee, Litecoin’s founder, F2Pool, BW, Bitmain, LTC1BTC, Huobi, OKCoin and others. It, however, states that it is not contracting on a litecoin network:

“We wish to stress that this roundtable assembly represents usually a accord of participating members, and can't make preference on interest of a Litecoin community.”

The signatories “condemn any bootleg assertive acts like DDoS,” and “do not disciple a flag-day “UASF” that does not go yet [sic] any users or village voting process. This form of forced ascent but village accord put Litecoin in a risk of split.”

The document does not yield any reason for activating segwit. It appears it was put to a opinion of a participating members, with litcoin’s governance indication now clearly changeable to:

“Litecoin custom ascent preference should be made… by a roundtable assembly voting process, and activated by miner voting.”

Interestingly, the

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