Litecoin Foundation Reports 'No Issues' Since SegWit Activation

The litecoin cryptocurrency adopted an upgrade called Segregated Witness just over a month ago and, so far, things seem to be going smoothly.

AccessTimeIconJun 14, 2017 at 9:00 a.m. UTC
Updated Aug 18, 2021 at 6:19 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The litecoin cryptocurrency adopted an upgrade called Segregated Witness just over a month ago and, so far, the integration is reported to be issue-free.

The code optimization, known popularly as SegWit, was initially put forward as a way to improve the functionality of bitcoin (paving the way for initiatives such as the Lightning Network), while also making more room for data in each transaction block.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • As CoinDesk previously reported, litecoin proponents began pushing for a SegWit upgrade earlier this year, a move that culminated with an activation on 10th May following back-and-forth discussions between miners and community stakeholders.

    Since then, litecoin community members say, there haven't been any problems to report.

    The Litecoin Foundation's Xinxi Wang told CoinDesk in an email:

    "SegWit is a huge success for Litecoin. There is no issue at all. Various Lightning Network teams are working together with the litecoin team."

    Since the integration, some industry startups have moved to embrace the move more fully. On 7th June, hardware wallet provider Trezor announced that its beta series of products would support SegWit for litecoin.

    Further adding to interest around the project, litecoin creator Charlie Lee notably announced on 9th June that he was departing Coinbase, where has served as director of engineering after joining the firm in 2013.

    Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.

    Sails in wind image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.