News of a novel understanding amidst the largest
Litecoin mining pools in addition to exchanges concerning the ‘Segregated Witness’ protocol upgrade, held on Friday, sent the cost if the digital currency soaring to a 3-year high.
On San Francisco-based substitution Kraken, Litecoin was trading equally high equally $14.42 at 2:00 p.m. EST on Sat - the highest cost since March 30, 2014:
While on Poloniex, a digital currency substitution based out of Delaware, USA, the LTC/BTC substitution charge per unit of measurement climbed to a 17-month high of 0.0117599.
The ascent tide of investment upper-case missive of the alphabet pouring into Litecoin could also live on observed past times looking at volumes on Poloniex, the generally pop cryptocurrency exchange.
Over the past times 24h, almost xv per centum ($34.7 million) of global digital currency turnover took house on the Poloniex LTC/BTC pair, according to information compiled past times
CoinMarketCap.com.
The
statement issued past times the Global LTC Roundtable Meeting - which saw participation from the largest cryptocurrency mining equipment manufacturer, Bitman, founder of Litecoin, Charlie Lee, in addition to Chinese exchanges Huobi in addition to OKCoin, amidst others - said at that spot is unanimous understanding on implementing Segregated Witness via a softfork.
However, the document also states that Litecoin block capacity, which is currently limited to 1MB, volition require live on lifted at about indicate inwards the future:
“When the usage of Litecoin block capacity is over 50%, nosotros volition commencement to cook for a solution to growth the 1MB block size bound through a hardfork or softfork.”
Large Chinese mining pools similar LTC1BTC.com, which were opposing SegWit prior to Friday’s meeting, began to demo their back upwards today past times mining SegWit-signaling blocks on the Litecoin network.
ViaBTC, a Litecoin mining puddle based inwards Shenzhen that has vehemently
opposed SegWit on Bitcoin & Litecoin, maxim it was an inadequate scaling solution because it didn’t effectively growth the block size limit, voiced back upwards for implementing SegWit on Litecoin this morning time on Twitter:
While the bulk of Litecoin supporters in addition to users praised Friday’s agreement, many pro-SegWit Bitcoin evangelists similar Andreas Antonopoulos, who has been keeping a closed oculus on the recent drama surrounding SegWit activation on Litecoin, expressed trouble concern well-nigh the centralized decision-making at the Global LTC Roundtable Meeting:
With the newly institute support, the Segregated Witness upgrade is really probable to become alive onetime inwards mid-May.