The War is Over: Chinese Miners Agree to Activate Segwit

After weeks of uncertainty, insults and misunderstandings, today the newly formed “Litecoin Round Table” has reached an agreement that puts an end to the dispute over Segwit.

The meeting was held this early morning UTC time and it gathered some of the most important names of the mining industry:

• BATPool
• Bitmain
• BW.COM ：Nancy Hu
• CHBTC.COM
• Collinstar Capital Australia
• Creator of Litecoin: Charlie Lee
• Easy Mining Tech：Peicai Lee
• F2Pool
• Huobi.COM
• Innosilicon Tech：Alex
• Litecoin Global Roundtable Secretary General：PZ
• Ltc1btc：Zhuoer Jiang
• OKCoin.COM

How did they do it?

The way to unlock what seemed to be a dead end negotiation was to compromise, miners agreed to signal segwit if the developers committed to upgrading the block-size if/when litecoin´s blocks become full:

1. Through a voting process, the participating members unanimously agree to the following plan regarding to Litecoin protocol upgrade:
   a. To implement Segregated Witness softfork on Litecoin.
   b. When the usage of Litecoin block capacity is over 50%, we will start to prepare for a solution to increase the 1MB block size limit through a hardfork or softfork.

This deal marks a new beginning for Litecoin and it proofs that consensus can be reached amongst Users, Miners and Developers.

You can read the full agreement here: “Litecoin Global Roundtable Resolution 001 (2017)”

Will Bitcoin Core follow Charlie Lee example and negotiate with the Chinese Miners?