)submitted by Litecoin Hodlerπ Rendered by PID 13564 on app-223 at 2017-06-24 12:27:57.305112+00:00 running 3522178 country code: SG.Coinbase Exchange is rebranding to GDAX and will support ETH/BTC and ETH/USD trading soon.LTC/BTC and LTC/USD in the works!Loading seems to be taking a while.The world of Bitcoin has been filled with drama lately.“The whole atmosphere in the Bitcoin ecosystem got a bit toxic,” Marco Krohn, CFO at the Icelandic bitcoin mining company, Genesis, told the Observer in a phone call.Without going deeply into the technical details, so many people use the original cryptocurrency today that the system has become bogged down and slow.It takes many minutes for a Bitcoin transaction to settle, and that has become a problem.There’s a lot of data that rides with every bitcoin transaction, and all that data takes up space.The more data that has to go onto the bitcoin’s public ledger, the blockchain, the fewer transactions can go through at a time.Bitcoin developers have proposed a solution, called “segregated witness” (SegWit) which would shave data off of each transaction, but the bitcoin mining community hasn’t adopted it yet.

Litecoin, one of the earliest forks of the original Bitcoin code, has come very close to adopting segregated witness for its miners.The cheaper cryptocurrency was already faster than Bitcoin, and this move should make it even faster.Yesterday, the leading cryptocurrency wallet company, Coinbase, announced support for Litecoin, which reads like a vote of support for segregated witness across cryptocurrencies.The market appears to approve of the progress too.Litecoin’s price has doubled, to about $24 per Litecoin, in the last month, according to Coingecko.Coinbase has also published a Litecoin explainer.Segregated witness is a simple concept, even if the execution is complicated.It removes the data that records the signature of a transaction from the bitcoin block, allowing more transactions to fit in each block.The blockchain is made of blocks, which is basically a list of transactions with corresponding metadata, which includes the digital signature.Signature data still goes onto the public blockchain, but it goes separately from the data about the traders.

Some bitcoin miners have implemented segregated witness software, according to Krohn, but not nearly enough to make it a reality.Miners would prefer to increase the size of each bitcoin block, though implementing segregated witness would not technically preclude that goal.“I think some of these miners are afraid that the increase of the block size is not going to happen,” Krohn said.In other words, as long as there is pressure to do something, miners want to increase block size first.If segregated witness were to take pressure off, they fear the update they prefer would occur more slowly.“With SegWit and Bitcoin’s current block scaling deadlock, I see a potential for Litecoin to help Bitcoin break through this deadlock,” Charlie Lee, founder of Litecoin, wrote when he announced his intention to move the network he founded to adopted segregated witness earlier this year.By proving the efficacy of the new approach, the younger coin can help convince the original to make the switch.

Litecoin will implement segregated witness in five days, Lee confirmed on Twitter.SEE ALSO: How Blockchain Technology Can Help Poor People Around the World Observer Delivered to Your Inbox Must Reads We noticed you're using an ad blocker.ethereal blade heroesWe get it: you like to have control of your own internet experience.bitcoin foundation russiaBut advertising revenue helps support our journalism.bitcoin nakamoto satoshiTo read our full stories, please turn off your ad blocker.bitcoin ppt espanolWe'd really appreciate it.litecoin market analysis

How Do I Whitelist Observer? on your browser: For Adblock: Click the AdBlock button on your browser and select Don't run on pages on this domain.For Adblock Plus on Google Chrome: Click the AdBlock Plus button on your browser and select Enabled on this site.most legitimate bitcoin exchangeFor Adblock Plus on Firefox: .bitcoin intraday chartsThen Reload the Pagefort dodge coin* FM HomeCryptoCurrencyExchangesCoinbase Receives NYC Regulator’s License to Offer Litecoin and Ethereum Coinbase Receives NYC Regulator’s License to Offer Litecoin and Ethereum New York’s financial regulator, the state Department of Financial Services (DFS), announced today that Coinbase’s licensing application to offer Ethereum and Litecoin has been approved, based on its positive review of the company’s policies.The San Francisco-based company said it was also approved to offer users in New York access to ‘Shift Card’, a Coinbase linked debit card service.The state license allows Coinbase, Inc., a wholly owned subsidiary of Coinbase Global, Inc., to offer services for the Ethereum network, a cryptocurrency and blockchain platform, as well as its digital cryptography-based asset, dubbed ‘Ether’.In addition, the regulator authorised the usage of Shift Card, a Visa-branded debit card that allows Coinbase users to spend bitcoin both online and at physical points of sale at over 38 million merchants worldwide.bitcoin pirate party

Finally, receipt of the New York license will allow Coinbase to expand its business opportunities in the state after adding Litecoin to its permitted virtual currency portfolio.To date, the financial services department has approved five firms for virtual currency charters or licenses, while denying those applications that did not meet its standards.Coinbase joined four other rivals that previously gained ‘BitLicenses’ from the DFS to operate in New York.DFS Superintendent Maria Vullo commented on the granting of the new licences: “New York continues to lead the nation in fostering financial technology by responsibly promoting innovation and protecting consumers.DFS has proven that the state regulatory system is the best way to supervise and cultivate a thriving fintech industry, like virtual currency.New York will remain steadfast in pushing back against federal encroachment efforts like the OCC’s proposal to impose a one-size-fits-all national bank charter that increases risk and seeks to usurp state sovereignty.”Brian Armstrong, Coinbase CEO and co-founder added: “At Coinbase, our first priority is to ensure that we operate the most secure and compliant digital currency exchange in the world.