If you’re wondering why litecoin is attracting new attention of late, you might not be alone.
The often-overlooked alternative cryptocurrency is in the midst of a historically uncharacteristic price spike and a vicious bout of technical drama that is rivaling bitcoin’s own scaling debate.
In fact, litecoin’s new developments are perhaps best viewed as simply the latest extension of bitcoin’s two-year scaling debate, since the controversy also revolves around a proposed blockchain upgrade called Segregated Witness.
The long-in-progress code change, supporters say, could usher in a wave of changes that could improve bitcoin’s usability. But, some miners and users in the community are opposed to the change on technical and political grounds – a fact that, months after the code’s release, has effectively stalled adoption.
However, while bitcoin is struggling to secure the needed levels of support from miners for the upgrade to go through, litecoin has almost reached the necessary threshold.
Some say that making the change on litecoin will help to signal whether it’s a safe and beneficial technical change, or not. Thus, it’s beginning to look almost like a testbed for bitcoin. Others argue it could be a way for litecoin to become a novel network, one with a distinct value proposition in