Litecoin Successfully activated SegWit

A long-planned change to improve bitcoin is now stable on a well-known digital money network - litecoin.

Segregit Witness has been the talk of bitcoin in the past few years, but now has the opportunity to shine with litecoin, according to advocates. Leading people believe that it will help you to reveal valuable changes to bitcoin.

The first change was stable two weeks ago, with an additional two weeks waiting to ensure the need for upgrading remains consistent. Early today, the change is triggered at block 1201536.

What does that mean? Litecoin users can now start using the new trading model and now have at least one such transaction.

However, most of the supporters are very excited about the new technologies that are now being built on a network with SegWit. For example, the Lightning Network, which can promote litecoin transactions up to millions of times, can now be assumed to be used to move real money.

The developer Litecoin Loshan T told CoinDesk:

"I think today will be a special day for promoting great technology with Litecoin. With SegWit enabled on litecoin's main network, I could not wait until we implemented the secret dealings, the signatures of Lightning Networks, MAST and Schnorr. "

However, these projects are quite early. Developers from the newly founded Lightning Labs, at least, seem to think it is still too early to talk about depositing money online are still testing and prioritizing their plans to continue improving their code.

The future is uncertain

It is unclear exactly what this trigger means and what is the role of litecoin in the future.

Loshan mentioned that some observers suspected that litecoin really needed the Lightning Network, because the litecoin trading blocks were still incomplete, but he pointed to intertwined transactions between unreliable chains between bitcoin and litecoin. As a potential use case Lightning that the developer believes can benefit all digital currency.

One point to note is that the wallet needs to be upgraded to support this type of transaction. For example, multi-signature mSIGNA wallet, for example.

Furthermore, there are some concerns about triggering - on logic and political issues. Recent high-level analyzes have shown that developers are not sure whether all diggers and trading floors are fully prepared for the change.

Time will answer all. Less than an hour after the change, virtual currency seems to work normally.