The litecoin cryptocurrency adopted an upgrade called Segregated Witness just over a month ago and, so far, the integration is reported to be issue-free.The code optimization, known popularly as SegWit, was initially put forward as a way to improve the functionality of bitcoin (paving the way for initiatives such as the Lightning Network), while also making more room for data in each transaction block.As CoinDesk previously reported, litecoin proponents began pushing for a SegWit upgrade earlier this year, a move that culminated with an activation on 10th May following back-and-forth discussions between miners and community stakeholders.Since then, litecoin community members say, there haven't been any problems to report.The Litecoin Foundation's Xinxi Wang told CoinDesk in an email: "SegWit is a huge success for Litecoin.There is no issue at all.Various Lightning Network teams are working together with the litecoin team."Since the integration, some industry startups have moved to embrace the move more fully.

On 7th June, hardware wallet provider Trezor announced that its beta series of products would support SegWit for litecoin.Further adding to interest around the project, litecoin creator Charlie Lee notably announced on 9th June that he was departing Coinbase, where has served as director of engineering after joining the firm in 2013.Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.Sails in wind image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.Litecoin (LTC or Ł[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 technical improvements over Bitcoin, and most other major cryptocurrencies, such as the adoption of Segregated Witness, and the Lightning Network.[4]

These effectively allow a greater amount of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with Bitcoin.[5]Litecoin also has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin.[6]Contents 1 2 3 4 5 6 Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee.bitcoin missouriIt 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.[7]bitcoin hoodieDuring the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[8]black halo bitcoin

Litecoin reached a $1 billion marketcap in November 2013.[9]As of May 9, 2017, its market capitalization is US$1,542,657,077 at around $30 per coin.[10][11]In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness.[12]Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second.[13]ethereum token icoLitecoin version 0.8.5.1 was released in November 2013.ethereum advantagesThe release included fixes for vulnerabilities and added enhanced security to the Litecoin network.setting up bitcoin pool serverThe Litecoin developer team released version 0.8.6.1 in early December 2013.bitcoin kaufen amazon

The new version offered a 20x reduction in transaction fees, along with other security and performance improvements in the client and network.The source code and binaries were released early to people in the "#litecoin" IRC channel, on the official Litecoin forums, and on Reddit, with information for power users to add a Litecoin supernode to the configuration file, while the main site was to be updated after enough of the network was running the new version.nxt to bitcoinThis release method was used to ensure that the low fee transactions from version 0.8.6.1 clients would not be delayed by clients running older versions.bitcoin cameroonIn April 2014, a new version of Litecoin was released, version 0.8.7.1, which fixed some minor issues along with an important fix related to the Heartbleed security bug.Litecoin offers three key differences from Bitcoin.

The original intended purpose of using Scrypt was to allow miners to mine both Bitcoin and Litecoin at the same time.The choice to use scrypt was also partially to avoid giving advantage to video card (GPU), FPGA and ASIC miners over CPU miners.Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[16]This is widely due to the Scrypt hashing scheme being more memory intensive; increasing memory requirements for ASICs and FPGAs.^ ^ a b c ^ ^ ^ ^ ^ ^ ^ ^ /currencies/litecoin/ ^ ^ /Blockstream/status/862420329888595969 ^ ^ ^ ^ Cryptography portal Economics portal Free software portal Internet portal Numismatics portal)submitted by π Rendered by PID 13424 on app-241 at 2017-06-24 12:25:02.948671+00:00 running 3522178 country code: SG.Comments Sign up for free to join this conversation on GitHub.