A grouping of Chinese crypto entities from across the scaling struggle has gathered together to back upwards SegWit for Litecoin via a vote.
The results of the Global LTC Roundtable Meeting, published today, telephone band for users to brand the determination nearly the coin’s future.
Members included Litecoin creator Charlie Lee, pro-big block miner Bitmain, Huobi as well as OKCoin.
An extract from the proposal reads:
“Through a voting process, the participating members unanimously deal 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 prepare for a solution to increment the 1MB block size restrain through a hardfork or softfork.”
The results grade welcome consensus inwards a struggle 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 upwards 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 public 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 instruct (through) whatever users or community voting process. This type of forced upgrade without community consensus pose Litecoin inwards a run a endangerment of split,” the roundtable members say.
Participants nominally agreed to abide past times the results of populace consensus i time the vote is administered.
