A grouping of Chinese crypto entities from across the scaling fence has gathered together to back upward SegWit for Litecoin via a vote.
The results of the Global LTC Roundtable Meeting, published today, telephone proper substantive upward for users to brand the conclusion most the coin’s future.
An extract from the proposal reads:
“Through a voting process, the participating members unanimously concur to the next innovation regarding to Litecoin protocol upgrade:
a. To implement Segregated Witness softfork on Litecoin.
b. When the usage of Litecoin block capacity is over 50%, nosotros volition commencement to laid for a solution to increment the 1MB block size boundary through a hardfork or softfork.”
The results score welcome consensus inwards a fence which has led to frequent disarray for Litecoin, amongst a poisonous stalemate like to that behind the Bitcoin scaling drama threatening to pose pay to its fortunes.
Following back upward for SegWit growing towards and, subsequently, beyond the required 75 per centum boundary, prices increased significantly, taking the cost per money over $10 from a previous $4.
Accusations that Bitmain was deliberately hindering SegWit progress led to Lee making a world appeal for a user-activated soft fork (UASF) to occur. Friday’s post, however, shows a reversal.
“We create non advocate a flag-day “UASF” that does non larn (through) whatever users or community voting process. This type of forced upgrade without community consensus pose Litecoin inwards a jeopardy of split,” the roundtable members say.
Participants nominally agreed to abide yesteryear the results of world consensus in ane lawsuit the vote is administered.