Litecoin Foundation Reports 'No Issues' Since SegWit Activation

The litecoin cryptocurrency adopted an upgrade called Segregated Witness just over a month ago and, so far, things seem to be going smoothly.

AccessTimeIconJun 14, 2017 at 9:00 a.m. UTC
Updated Sep 11, 2021 at 1:26 p.m. UTC

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


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.