Litecoin prices continued a recent rally today, pushing the digital currency to its highest value in more than one year.Far from a standard cryptocurrency pump, however, the market appears to be responding strongly to its technical roadmap.Namely, the increase comes as the network nears the key 75% support level needed to activate Segregated Witness, a scaling solution that will boost block capacity.While signaling had declined slightly to 67% at press time, litecoin traded as high as $11.32 today, up nearly 40% in the space of 24 hours, according to CoinMarketCap data.Late yesterday, the digital currency even reached $11.42, its highest price since May 2014.These recent price increases have built on the gains the cryptocurrency began experiencing roughly one week ago, when the digital asset surged nearly 70% on 30th March.As a result of these continued upward price movements, litecoin's value surged more than 100% in a week., 24-hour volume surpassed $250m today, a drastic increase from the $10m recorded during the 30th March rally.

The major development that has coincided with litecoin's continued rise is progress toward obtaining the support levels needed for activating SegWit.hungary bitcoin exchangeFirst designed for use on the bitcoin blockchain, SegWit would nonetheless increase litecoin's block capacity by altering how transaction date is stored by the network.bitcoin mining setup poolOnce breached, the level of support will need to remain at or above the 75% threshold level for 8,064 blocks (roughly two weeks) before it can officially be implemented.bitcoin difficulty calculationThe recent rally in litecoin prices compares to a long period when the digital currency's price experienced little volatility.bitcoin media markt

The price of litecoin rose to more than $50 in late 2013 but has traded below $20 since early 2014.ppt on bitcoin technologyThe 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.jesus del bitcoinOften dubbed as ‘silver to bitcoin’s gold’, Litecoin has been around for around six years.While Litecoin is broadly built on a structure similar to Bitcoin's​, it has a faster block generation rate and hence offers a faster transaction confirmation.While it witnessed a lifetime high of $50 in November 2013, it hasn't seen much activity in the past two years or so with its price hovering around $2-$5 range.However, the recent movement in its price has got cryptocurrency enthusiasts to take a second look at it?Litecoin was created by Charlie Lee, a MIT graduate and former Google engineer.

Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade.Its price has risen from approximately $4 to $13 during the past one month.The main reason behind the recent rally has been the rising support towards adopting Segregated Witness, or simply SegWit.Litecoin like Bitcoin has a block capacity of one megabyte (MB) that limits the transactions per block.As the network grows, this tends to slow down the confirmation of transactions.SegWit is thus a ‘scaling’ mechanism originally developed for bitcoin.The adoption of SegWit requires a network consensus which has hindered its upgrade in case of bitcoin.However, Litecoin is getting closer to SegWit upgrade amid growing consensus.SegWit activation threshold is at 75%.This is a positive development for Litecoin and a successful upgrade could possibility trigger the same for Bitcoin which currently has just about 33% pool support for SegWit.

There are a couple of Litecoin Segregated Witness adoption trackers which show the adoption progress.Charlie Lee has been advocating for SegWit to activate on Litecoin as well as Bitcoin, he says, “Litecoin does not have a block size problem.That’s right, and SegWit is not just a block scaling solution.I would even say block scaling is just a side benefit of SegWit.The main fix is transaction malleability, which would allow Lightning Networks (LN) to be built on top of Litecoin.And there are a bunch nicer features of SegWit.” Amid Bitcoin’s scaling debate, the possibility of Litecoin upgrade portrays a positive picture for its price, and usability.In fact, the increase in the latter would possibility make the price rally more sustainable for Litecoin.Litecoin is currently ranks fourth among the 700 plus cryptocurrencies with a market capitalization of $687.31 million.(Related reading, see more: The 6 Most Important Cryptocurrencies Other Than Bitcoin) Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.Delivered twice a week, straight to your inbox.No thanks, I prefer not making money.Litecoin prices surged nearly 70% today, ending months of stagnant market activity.Prices for the alternative cryptocurrency rose to as much as $7.04 on CoinMarketCap, compared to $4.18 at the start of trading – a rise of about 68%.According to the data, most of the trading has taken place on Poloniex, OKCoin and Huobi.At press time, the price is averaging around $6.30 across exchanges.Prior to today's rally, the digital currency had seen little price volatility since roughly the start of February.In that time, litecoin prices have fluctuated within a range close to $4, market data shows.Its price reached as much as $48 in late 2013.As for what's driving the rally, market observers aren't so sure.One theory floated related to efforts to integrate Segregated Witness – originally proposed as an upgrade to bitcoin's code – with litecoin, though figures show that adoption has been slow amongst the altcoin's miners.