On Apr 21, Litecoin creator in addition to Coinbase Director of Engineering Charlie Lee urged Jihan Wu, the founder in addition to CEO of Bitmain, the nurture fellowship of Litecoin in addition to bitcoin mining puddle Antpool, to signal the activation of Bitcoin Core’s scaling solution Segregated Witness (Segwit).
Almost at 1 time after the Litecoin mining community in addition to manufacture released the Litecoin Global Roundtable Resolution 001, the results of the Global LTC Roundtable Meeting established to eliminate whatever misunderstandings in addition to conflicts inside the manufacture in addition to community, Lee wrote: Ball is at nowadays inwards your courtroom Jihan Wu in addition to Jiang Zhuoer. Let’s signal for SegWit in addition to plough over the people what they want!
Mining pools in addition to businesses including BATPool, bitmain, BW.com, CHBTC.com, F2Pool, Huobi, OKCoin in addition to LTC1BTC came to a consensus that a major protocol upgrade such equally Segwit should hold upwards implemented nether bulk community consensus.
“We concur that protocol upgrade should hold upwards made nether community consensus, in addition to should non hold upwards unilateral activity of developers nor miners. We advocate that Litecoin protocol upgrade determination should hold upwards made based on the needs of the users, through the roundtable coming together voting process, in addition to activated past times miner voting,” announced the members of the roundtable meeting. During the meeting, mining pools in addition to community members went through a transparent voting procedure to create upwards one's heed whether to back upwards the activation of Segwit or disregard it. Ultimately, the Litecoin community came to an official consensus to back upwards the activation of Segwit equally soft fork on Litecoin.
“Through a voting process, the participating members unanimously concur to the next excogitation regarding to Litecoin protocol upgrade: To implement Segregated Witness softfork on Litecoin [and] when the usage of Litecoin block capacity is over 50%, nosotros volition start to prepare for a solution to increase the 1MB block size limit through a hardfork or soft fork,” the Litecoin community stated.
While the motive of mining pools such equally Antpool in addition to other previously Segwit-opposing miningg pools rest unclear, the Litecoin Global Roundtable Resolution revealed that the Litecoin mining community is agains the concept of a user-activated soft fork, which completely disregards miners in addition to mining pools past times making a major determination with users in addition to node operators.
A to a greater extent than logical explanation of the Litecoin mining community’s consensus toward the activation of Segwit is that the community felt threatened past times the back upwards for the activation of UASF, which essentially reduces the might in addition to authorization of miners over the network.
“We create non advocate a flag-day “UASF” that does non become though whatever users or community voting process. This type of forced upgrade without community consensus position Litecoin inwards a gamble of split. We condemn whatever illegal aggressive acts similar DDoS,” Litecoin miners added.
Can Bitcoin Learn from Litecoin?
There exists 2 principal learning points from the Litecoin community’s recent consensus to activate Segwit. The commencement betoken is that spell the community is decentralized, it is cooperative in addition to collaborative, dissimilar the bitcoin community. Secondly, the Litecoin community has a moderator-like figure inwards Charlie Lee who tin post away unify the community pick out it to a consensus to solve major network issues in addition to scalability problems.
For the bitcoin network to scale efficiently, iii communities of miners, users in addition to developers must come upwards to a consensus on a scaling solution, rather than leading a long-term conflict derived from egotistical viewpoint of the bitcoin network.
Currently, all mining pools of Litecoin are inwards back upwards for Segwit apart from ViaLTC. Antpool in addition to F2Pool are actively mining Segwit blocks on Litecoin.
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