The 10 of May of 2017 is the date that SegWit finally activated on a major blockchain: Litecoin.
It was a hard fought battle that ended with an agreement at the “round-table” between Chinese Miners and the creator of Litecoin, Charlie Lee.
For some bitcoiners this is also a victory and we have seen a few Core developers moving to Litecoin to implement programs that were initially thought for Bitcoin.
The most interesting project will come right after activation and it is called “The Lightning Network”, a decentralized network that uses smart contract functionality to enable instant payments across a network of participants. It is claimed that Confidential Transactions will also be implemented later this year.
I am personally really happy about today since I have witnessed the massive effort that was done by Charlie, Xinxi and the rest of the Litecoin developers to convince miners to start signaling.
But, what about Bitcoin?
It is hard to say if Segwit will ever activate on Bitcoin, it would sure solve a lot of scalability issues and save users a lot of money on transactions fees. However, the 95% activation threshold that is needed makes it almost impossible to achieve considering the resistance from BU supporters.
It's kinda cool to be watching and being a part of history as it unfolds.
This post has received a 1.04 % upvote from @drotto thanks to: @dreamingirwin.
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