CryptoCoinsInfoClub.com

Litecoin Segwit Date

Litecoin Has Now Deployed Segregated Witness

Litecoin Has Now Deployed Segregated Witness

Litecoin Has Now Deployed Segregated Witness Its official. Litecoin , one of the oldest and biggest altcoins by market cap , deployed Segregated Witness ( SegWit ) today. The protocol upgrade that was originally developed for Bitcoin and proposed by the Bitcoin Core development team locked in on Litecoin two weeks ago, and was enforced by a majority of hash power on the Litecoin network as of a couple of hours ago. The Segregated Witness soft fork activated without major issues though there was an early slip up by the biggest Litecoin mining pool on the network. F2Pool had a hiccup where they were not mining Litecoin correctly. For some reason their LTC pool was returning a BTC template to miners. We reached out to them and they fixed it right away, Litecoin inventor Charlie Lee told Bitcoin Magazine. Launched in 2011, Litecoin was one of the first altcoins to gain significant traction. As opposed to some newer altcoins like Ethereum , Ripple and Monero , Litecoin is a straight fork of Bitcoins codebase but with a different mining algorithm and some changed parameters, such as faster confirmation times. This similarity to Bitcoin does mean that Litecoin suffers from similar weaknesses as Bitcoin, like transaction malleability . And, indeed, that it can adopt similar solutions and improvements, like Segregated Witness. While Litecoin inventor Charlie Lee has been advocating for activation of the soft fork since late 2016, miner support initially did not follow. This changed following the Global LTC Roundtable Meeting, an online meeting held amongst prominent stakeholders in the Litecoin industry, who are based particularly in China. The participants agreed on Litecoin Global Roundtable Resolution 001 (2017) , which, among other things, holds that the mining pools would Continue reading >>

Litecoin Successfully Activates Segwit

Litecoin Successfully Activates Segwit

Join our community of 10 000 traders on Hacked.com for just $39 per month. Litecoin is the biggest digital currency to successfully activate segwit which went live around 6PM London time on the 10th of May 2017 with segwit transactions now available for use depending on the litecoin wallet. The upgrade was overall smooth, despite a slight hiccup with one miner, F2Pool, which for a brief period returned a BTC template to LTC miners, an oversight that was quickly fixed with no known problems at the time of publishing. It is now immediately available to use if your service provider has upgraded to support segwit with Charlie Lee, Litecoins founder, tweeting out the first segwit transaction minutes after its activation. First SegWit transaction on Litecoin! Charlie Lee [LTC] (@SatoshiLite) May 10, 2017 The first segwit transaction on litecoin image from cryptoid The transaction is somewhat heavy, taking up 3KBs of space when average transactions use around 300-400 bytes. However, Marek Palatinus, Slush Pool founder, tweeted out a segwit transaction undertaken by a Trezor hardware wallet which had an average size. The Lightning Network (LN) is now to be deployed, a second layer protocol on top of litecoin which can handle thousands of transactions per second by using the base, on-chain layer, only as a settlement for payments. Charlie Lee publicly stated there were around six LN versions working on litecoin, including from developers at MIT and Blockstream. Most of them are however at command interface levels with GUI wallets expected soon. After LN deployment, the roadmap of Bitcoin Core developers is expected to be followed. That is further capacity compression through Schnorr signatures which aggregates signature data, MAST, which aggregates scripts, and other optimizati Continue reading >>

Segwit Date, Mast On Litecoin Can Ltc Gain Momentum?

Segwit Date, Mast On Litecoin Can Ltc Gain Momentum?

SegWit Date, MAST On Litecoin Can LTC Gain Momentum? Litecoin miners, pools and exchanges have been informed to prepare for the pending CSV and SegWit activation . The date has been confirmed in a note issued by Bitcoin Core contributor, Johnson Lau for around May 11 at block 1,201,536. It could also happen earlier depending on hashrate. The network reached the required number of signaling blocks and locked into its final phase to activate the long-awaited SegWit on Wednesday April 26. The Lightning Network would also be ready for implementation on Litecoin at the same time according to its founder, Charlie Lee. He has also confirmed that Bitcoin Core developers have been working with Litecoin on Confidential Transactions CT and Merkelized Abstract Syntax Trees MAST. According to Lau , MAST which will is aimed at improving flexibility and increasing privacy will make LTC script language 2 generations ahead of BTC. The litmus test for Litecoin would come after the next two weeks. SegWit activation is expected to fix a transaction malleability bug and reduce the size of transactions stored on the blockchain to accommodate more in a block. Afterwards, wallet providers and other major users are expected to deploy SegWit-enabled apps. The idea is to help Litecoin gain wider adoption not only in China where it is highly recognised as a viable digital currency but in other parts of the world. The Lightning Network, on its part, is to enable the Litecoin blockchain connect and share specific information with Bitcoins to create a seamless movement of value between the two networks. If achieved, the scalable instant payment network built on the chain would enable cheaper transactions and faster transaction times. The view that Bitcoin is stuck right now with little or no innovat Continue reading >>

Litecoin Rises 40% In Anticipation Of Segwit Activation Today

Litecoin Rises 40% In Anticipation Of Segwit Activation Today

Litecoin Rises 40% in Anticipation of Segwit Activation Today Join our community of 10 000 traders on Hacked.com for just $39 per month. Litecoin began a bull run yesterday, nearly doubling in 24 hours from around $22 to now trading at $38 in anticipation of segregated witnesses (segwit) activation which is now due in a couple of hours . Just over 100 blocks are left at the time of writing for segwit to activate, with litecoins blocks averaging 2.5 minutes. So after some drama between litecoin miners and developers, its finally happening. Segwit will now go live. Litecoin rises in anticipation of segwit activation. If all goes well, then its a non-event for litecoin. The currency is hardly used or accepted by anyone. It already has 4x bitcoins capacity, with segwit increasing it to around 8x, but just 4,000 transactions a day, while bitcoin currently has 250,000. So litecoin users wont really see any change, nor would anyone really care about litecoin or its segwit activation if small blockers were not promoting it as proxy politics for segwits activation in bitcoin. Bitcoin, however, remains split, with the result seemingly being an increase in hashrate support for Bitcoin Unlimited. It has reached 45% during the longer one-week time frame and 53% during the past 24 hours. Thats probably because segwits activation in bitcoin is very different from segwits activation in litecoin where it is largely irrelevant since litecoin has plenty of capacity, but bitcoin currently has none to spare. That means segwits activation in bitcoin would force users to the Lightning Network (LN). That would be a significant transformation of bitcoin with a lot of unknown, a transformation supported by a minority of the hashrate, while the majority now prefers on-chain scaling. The problem Continue reading >>

Can Bitcoin Grow In The Same Manner As Litecoin Did After Activating Segwit?

Can Bitcoin Grow In The Same Manner As Litecoin Did After Activating Segwit?

Can Bitcoin Grow in the Same Manner as Litecoin did After Activating SegWit? Segregated Witness is one of the most intriguing scaling proposals the cryptocurrency world has seen to date. It is already active in many altcoins, but not the currency it was initially designed for. Bitcoin has yet to reap the benefits of SegWit as we speak. With the activation locked in, good things will happen over time. If Bitcoin were to follow Litecoins path, we may even see a price well above US$5,000 in a few weeks from now. To put this into perspective, Litecoin was the first major currency to activate SegWit. At that time, no one knew what the effect would be. That is only normal, as this scaling and anti-malleability solution is designed for Bitcoin first and foremost. However, when Litecoin did activate it, good things have started to happen. With the price increasing to twice its original value over four months, one cant deny the impact of SegWit. That is rather remarkable, to say the least. SegWit Activation can Push Bitcoin to US$7,500 or More Bitcoin, on the other hand, still needs to activate this solution as we speak. The network successfully locked in its activation a few days ago. With this solution in place, interesting things are on the horizon. Bitcoin will start to scale and provide cheaper transactions. Moreover, there will be no more major mempool issues to speak of. Or that is what most people expect at this time, at least. Only time will tell if things play out that way. Should Bitcoin follow Litecoins path, we may see a major price boost in the next few months. It is unlikely the BTC price will go up by 100%, though. The year 2017 is a major Bitcoin bull run already. Activating SegWit seems to be factored into the price as we speak. Then again, we never know for s Continue reading >>

Charlie Lee [ltc] (@satoshilite) | Twitter

Charlie Lee [ltc] (@satoshilite) | Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

Litecoin Surge: 5 Likely Scenarios Why It Occurred

Litecoin Surge: 5 Likely Scenarios Why It Occurred

Litecoin Surge: 5 Likely Scenarios Why It Occurred By Joe Liebkind | Updated December 14, 2017 2:30 PM EST How Coinfloor's Bitcoin Futures Differ from CME, CBOE Created as one of the first imitators of bitcoin after its initial release in 2009, Litecoin was largely ignored as a clone, and accordingly stayed in the single-digits in terms of fiat value. For years, Litecoin lounged in bitcoins shadow, serving as a slightly different version of its more popular peer cryptocurrency. However, as bitcoin grew to fantastic heights, Litecoin has tagged along for the ride and become an enormously well-supported cryptocurrency on its own merit. During the latest and most impressive boom at the tail end of 2017, bitcoin tripled its value in a matter of months, sparking a speculative phenomenon that is still the talk of the financial sector. In accordance with its usual second-string position, Litecoin markets were relatively quiet during this time, but suddenly usurped bitcoins gains in a matter of days. Rising from under $100 to almost $400, Litecoin has earned the crown of "biggest gains in 2017 . There are many reasons why this happened, each with their own potential. In all likeliness, they each contributed their own momentum to the trend. Increasing support for bitcoin in retail and institutional investment circles was the impetus the coin needed to drive speculation and higher relative fiat values. CME, CBOE, and Nasdaq alongside other public and private investment firms, exchanges, and brokers announced their intention to bring bitcoin to the mainstream , and the first futures contracts have already hit the market. This was an unmistakably enormous step for cryptocurrency and illustrated to the young community that their passion was on its way to legitimacy. Though there ar Continue reading >>

Litecoin Price Spikes Amid Segwit Activation

Litecoin Price Spikes Amid Segwit Activation

Litecoin Price Spikes Amid SegWit Activation Image: Litecoin by btckeychain via Flickr Segregated Witness (SegWit), a code update best known for its role in Bitcoins scaling debate, is due to activate on the Litecoin network today. News of SegWit implementation sparked optimism amongst investors. Litecoin had been trading between 1.5 and 5 USD/LTC between 2015 and March 2017. Today, prices stand at around 32 USD/LTC, up 788% since the beginning of the year. The main reason behind the recent rally has been the rising support and adoption of SegWit. Litecoin, like Bitcoin, has a block capability that limits the number of transactions per block. As the network grows, this tends to slow down the confirmation of transactions. SegWit is an update originally developed for Bitcoin. If activated, the soft fork allows a capacity increase and the elimination of transaction malleability . Charlie Lee, a MIT graduate, former Google engineer and the creator of Litecoin, has been advocating for SegWit to activate on Litecoin as well as Bitcoin. SegWit is not just a block scaling solution. I would even say block scaling is just a side benefit of SegWit, Lee wrote in a blog post in January. The main fix is transaction malleability, which would allow Lightning Networks (LN) to be built on top of Litecoin. And there are a bunch more nice features of SegWit. SegWit adoption requires a network consensus which has hindered its upgrade in the case of Bitcoin. 95% of miners have to signal support in a two weeks period in order to activate SegWit. Implementation of SegWit for Litecoin is a positive development for the cryptocurrency and its successful upgrade could possibility trigger the same for Bitcoin, which currently has only 34% of pool support for SegWit. That example of a successful so Continue reading >>

First Ever Cross Chain Atomic Swap Between Bitcoin And Litecoin A Success

First Ever Cross Chain Atomic Swap Between Bitcoin And Litecoin A Success

First Ever Cross Chain Atomic Swap Between Bitcoin and Litecoin a Success Matthew Tompkins November 17, 2017 2:30 pm The Lightning Network brought to Bitcoin with Segwit enables users to instantly exchange Bitcoin for Litecoin and vice versa. The first ever transaction between the two coins has now happened. Segwit (short for Segregated Witness) brought with it many new exciting features for Bitcoin when it was implemented in August this year, not least of them atomic swaps and the Lightning Network. The Lightning Network is an off chain network, that can, among other things, help reduce theload on the main Bitcoin blockchain. Billions of transactions can theoretically be made instantly through the application of smart contracts. Transfers are made with other parties with a 10-day lock-in period, allowing the exchange to either occur between the two parties or have them cancel and be refunded. The first swap can be seen taking place on the YouTube video below. it was released yesterday by Lightning Labs who devised the code. Are there downsides to any of this? Not really unless you are a miner, no. Bitcoin miners will not be making as much profit from receiving transaction costs, as there stands to be less of them made. Whether this will prove to be a decent combat to the increasingly centralized nature of the current state of Bitcoin mining remains to be seen, as large corporate controlled operations rather than a collective of truly decentralized users, hold a vast, potential unfair sway over the Bitcoin network. Marshaling the approval of pool owners and mining operators has been key, however, to bringing the power of SegWit to both Litecoin and Bitcoin, as combined hashing power was needed in order to activate the SegWit changes on the entire blockchain. Litecoins Continue reading >>

Litecoin Successfully Activates Segwit - Coindesk

Litecoin Successfully Activates Segwit - Coindesk

A long-debated change originally intended to improve bitcoin has now locked in on the lesser-known cryptocurrency network litecoin. Segregated Witness ( SegWit ) has been the subject of bitcoin's infamous scaling debate for a couple of years now, but it's now getting an opportunity to shine on litecoin, or so its supporters argue, leading some to believe that it will now help revealwhether concerns aboutthe change are valid for bitcoin. The change first locked-in two weeks ago, leading to two more weeks of waiting to ensure demand for the upgrade remained consistent. Earlier today, the change activated at block 1201536 . What does that mean? Litecoin users can now begin using the new style of transaction, and there has been at least one such transaction so far. However, most advocates are excited about the new technologies that can now be built on top of a network with SegWit. For example, the Lightning Network , which could boost litecoin transactions by as much as a million times, can now hypothetically be used to move real money. Litecoin developer Loshan T told CoinDesk: "I think today will be a great day for pushing more awesome tech into Litecoin. With SegWit activated on litecoin's mainnet, I cannot wait until we deploy confidential transactions, Lightning Networks, MAST and Schnorr signatures." Still, these projects are rather early stage. Developers from the startup Lightning Labs, at least, seem to think that its too early to talk about sending money over the still-experimental network and plan to continue improving their code first. It's unclear what exactly this activation means and what role litecoin will play in the future. Loshan mentioned that some onlookers are skeptical that litecoin really needs the Lightning Network, since litecoin transaction block Continue reading >>

Litecoin Segwit Activation: What You Should Know

Litecoin Segwit Activation: What You Should Know

Litecoin SegWit Activation: What You Should Know Litecoin is an established digital asset in the cryptocurrency market , first launched in 2011 and modeled closely on bitcoin. And while bitcoin is its more popular and well-known older brother, surprisingly, litecoin has gotten an increased amount of attention as its market cap has grown to one of the largest in cryptocurrency. The cryptocurrency launched Segregated Witness, which is a technology that was originally designed for bitcoin but failed to get the initial support required to activate it. After SegWit was successfully launched for Litecoin in 2017, Bitcoin developers rolled out SegWit for Bitcoin later that year. Right before litecoin activated the technology, the value of LTCs surged, increasing from $22 to $38 within a short period of time. And the excitement wasnt focused on only what the activation of what SegWit would mean for litecoin, but also on what it meant for bitcoin, since the cryptocurrencies are so similar. But many still wonder what SegWit blockchain technology is and how it works. SegWit is a technology that helps alter the block size limit on a blockchain by removing signature data from the transaction. The Segregated part of the name comes from how the technology works, as it basically separates and then witnesses the transaction to ensure that its safe and secure. Here are a couple of important points about this technology: The required amount of data decreases. The input values covered under signatures reduce the amount of data that is required by hardware wallets and other types of detached signers. Limits are increased. The 1 MB block size limit is increased to 4 MB, and a new block weight is added. This helps avoid the harmful effects of increasing the block size. The above points would Continue reading >>

Coinbase Adds Support For Litecoin

Coinbase Adds Support For Litecoin

Ecobee is building Alexa into its thermostats and lightswitches Coinbase has just rolled out full support for Litecoin , its third cryptocurrency. Users will be able to buy, sell, send and store Litecoin from Coinbases website or mobile apps, using easy payment methods like a credit/debit card or PayPal. While Coinbase was founded as a platform to transact only with Bitcoin, the company has since announced its intent to addother cryptocurrencies with the broader goal of becoming a digital currency company. Last summer Coinbase added support for Ethereum , which is now the second most-popular digital currency with a market cap about one-third the size of Bitcoins market cap. At the time, the reasoning was that Coinbase saw Ethereums focus on smart contracts as a tangibleimprovement over Bitcoin, and not just anotheralt-coin that doesnt serve any real function. So why Litecoin? Interestingly, Litecoins creator, Charlie Lee , has been director of engineering at Coinbase for nearly four years. And while there were always ongoing discussions about adding Litecoin to the platform, they didnt really materialize until recently. Lee explained that its been a slowfew years for Litecoin. While the digital currency had a heyday in late 2013 with its price spiking to over $50 per coin and over $1 billion in total market cap, it quickly fell back to earth and basically remained flat for three years. If youre familiar with Bitcoinyou know that the community is facing an internal struggle with deciding how to scale the currency for the future.Essentially, Bitcoins original code wasnt designedto process this many transactions on a daily basis, and now the network is charging too much per transaction, whichtakes too long to confirm. Luckily thereare two main proposed solutions: Bitcoin Continue reading >>

Why Are Bitcoin Investors Suddenly Flocking To Litecoin?

Why Are Bitcoin Investors Suddenly Flocking To Litecoin?

Just today, Litecoin has seen prices rise by 81 percent with the price of a single Litecoin going up to $328.92. Up by 4000 percent from year to date, Litecoin seems to be skyrocketing higher than its digital sibling Bitcoin, in terms of just growth. Experts have already anointed Litecoin to be the silver to Bitcoins gold. According to Coinmarketcap, Litecoin ranks fourth after Bitcoin, Ethereum, and Bitcoin Cash with close to $13.8 billion in market capitalisation. In the last 24 hours, the price of a single Litecoin has risen to $328.92 (at the time of publishing this article), according to Coinbases exchange, GDAX. Whats surprising is that the price of one Litecoin was $4.33 at the start of 2017. So what is suddenly pumping the momentum for this cryptocurrency? Some hints for the meteoric rise are already out there. First, Litecoin has more room to grow, given that only 64 percent of its total stash of 84 million coins are in circulation. When compared on Coinmarketcap.com, only 76 percent of Bitcoins are in circulation of the total stash of 21 million coins. Twenty-one million coins is the maximum market capitalisation for Bitcoins. On an average, the mining profitability for Bitcoin continues to be the highest at $3 per day for one transaction hash. However, for Litecoin this number still remains to be at $0.0499 per day for a single hash. In the past, creator of Litecoin, Charlie Lee has said that most innovative works done by Bitcoin developers and projects directly benefit Litecoin. He has said, Every Bitcoin developer also works on Litecoin. Absolutely nothing they can do about that. If you dont like that Litecoin piggybacks off of Bitcoin developers hard work, it is because you care more about Bitcoin making you rich than crypto changing the world. Just to gi Continue reading >>

Segwit Locks In On Litecoin, Will Activate

Segwit Locks In On Litecoin, Will Activate

Segwit Locks In on Litecoin, Will Activate Litecoin has surpassed the required number of signaling blocks needed to activate Segregated Witness (Segwit) on Wednesday. Segwitis therefore locked in on Litecoin. After Segwit is locked-in, it will activate, wrote Segwits development team. Also read: Litecoin Reaches Round Table Resolution for Protocol Upgrade Early on Wednesday, Litecoin creator Charlie Lee tweeted :Segwit on Litecoin will be locked in in ~19 hours, but we already reached the required number (6048) of signaling blocks. His tweet shortly followed the official Litecoin channels tweet. The activation threshold for Segwit on Litecoin was set to 75 percent by its development team. Specifically, 6048 out of 8064 (75%) blocks are required to reach locked_in status, the Litecoin tracking site Litecoinblockhalf explains . The site shows that currently 6328 out of 7911 or 79.99% of blocks are signaling for Segwit, adding that after another activation period, Segwit will become active. In the meantime, all miners and nodes are encouraged to upgrade their software to the latest version. The development team behindSegwit wrote : After Segwit is locked-in, it will activate. That means all full nodes running Segwit-aware code will begin requiring miners to enforce the new Segwit consensus rules. In February, Litecoin developers led by Charlie Lee initiated the push to add Segwit to their cryptocurrency. However, instead of closely following Bitcoins activation plan, the Litecoin team decided to lower the activation threshold from 95 percent down to 75 percent. Last week, Bitcoin.com reported on the Litecoin communitys Global Roundtable meeting. A resolution was reached during the event between several major mining pool operators and exchanges that trade Litecoins. They a Continue reading >>

Litecoin - Wikipedia

Litecoin - Wikipedia

Litecoin (LTC or [1] ) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license . [2] Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. [2] [3] While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some minor technical differences compared to Bitcoin and other major cryptocurrencies. Limited release ( geometric series , rate halves every 4 years reaching a final total of 84 million LTC) Increasing difficulty per every 2016 blocks produced. Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. [4] The Litecoin network went live on October 13, 2011. [5] It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm ( scrypt , instead of SHA-256 ), and a slightly modified GUI . [6] During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours. [7] Litecoin reached a $1 billion market capitalization in November 2013. [8] By late November 2017, its market capitalization was US$4,600,081,733 ($85.18 per coin). [9] [10] In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness . [11] Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zrich to San Francisco in under one second. [12] Litecoin is different in some ways from Bitcoin . The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 mi Continue reading >>

More in litecoin