Litecoin creator Charlie Lee believes that the cost of the digital currency could attain $14 when SegWit is activated on the network.
On Saturday, F2Pool mined Segregated Witness (SegWit) blocks for both Bitcoin in addition to Litecoin.
Charlie Lee tweeted that he sees a 72.34 per centum adventure of roughly other puddle signaling for SegWit inward the adjacent vii days. He equates the estimated prices to the grade of signaling the network has received thence far: xx per centum => $4, lx per centum => $9, 100 per centum => $14.
There are indications the network volition activate SegWit soon. It creates excitement - fifty-fifty inward the Bitcoin military camp - for roughly users to bring together the Litecoin train. This angle, every bit good every bit the agreement that its activation of SegWit is an experiment for Bitcoin, makes roughly enthusiasts desire to throw their weight behind it.
Litecoin leading
They are hopeful that Litecoin volition exhibit the Bitcoin community that SegWit tin hold upwards skillful for Bitcoin, though Litecoin cost is probable to autumn if in addition to afterward SegWit is activated for Bitcoin. This is because a successful implementation volition probable increase the chances of a successful Bitcoin SegWit implementation substantially.
In the meantime, Litecoin cost volition probable maintain to tardily rising until the activation leading through to when SegWit volition conk live.
Litecoin’s mightiness to combine both Bitcoin in addition to the Lightning Network for transactions is a major characteristic that could encounter it conk to a greater extent than valuable than overstep option currencies because it tin opened upwards novel possibilities that the manufacture hasn’t seen yet. The prospect that SegWit activation on Litecoin may convey inward novel users to the crimp is likewise a plus.
Deadlock
The evolution is coming afterward Lee wrote a missive of the alphabet to Chinese Litecoin miners in addition to puddle operators aimed at convincing them on why SegWit is skillful for the network.
He explained to them that Litecoin is non currently running into a block size occupation - it has iv times the capacity of Bitcoin - merely is bent on activating SegWit because it has a create for transaction malleability which enables the adding of novel technologies similar the Lightning Network in addition to Schnorr signatures or Confidential Transactions.
His proffer that “Litecoin tin actually smooth if nosotros tin larn SegWit on Litecoin” every bit Bitcoin keeps stalling due to the block size scaling deadlock could appeal to a department of Chinese investors. He is certain:
“The marketplace is waiting for Litecoin to larn SegWit in addition to the cost volition react positively if SegWit is activated. Seeing all these other altcoins pump is definitely disheartening. So let's plough over the marketplace what it wants.”