Litecoin Reaches Agreement on Segwit Upgrade, Price Rises


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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