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New To Bitcoin? "The distinction between Bitcoin and Litecoin is me," he stated. As a result of Jihan had loads of influence, he single-handedly was in a position to dam SegWit activation on Bitcoin. How did Charlie Lee proceeded? Nonetheless, on the time, Wu was singlehandedly stopping SegWit adoption in Bitcoin. How did he make SegWit on Litecoin occur. So, how could Charlie Lee and his band of misfits circumvent this large impediment blocking their means? We all know that his plan labored, however it was too much harder than anticipated. Who stepped up to the plate to assist him? Jihan Wu had the assets and influence to render his efforts obsolete, plus he had an ace up his sleeve. Find all of that and more in tomorrow’s subsequent and remaining episode of Litecoin ‘s 10-12 months historical past.
"Basically the fear was that once SegWit is activated, miners can steal any coins despatched to SegWit addresses. If miners can steal tens of millions from anyone-can-spend coins, they would." Besides helping Bitcoin beat the FUD, Charlie Lee had other causes to implement SegWit in his challenge. Anybody technical enough knows that this was not true. It was not possible for miners to steal coins that way. Bitcoin’s Testnet wasn’t helpful in this case because its coins are nugatory, so it doesn’t present an incentive for unhealthy actors to attack it. Sadly Bitcoin testnet was not helpful here. Anyone technical sufficient is aware of that this was not true." So, Lee’s plan was to implement SegWit on Litecoin to indicate everybody that the upgrade was secure, and thus help clear up the FUD that surrounded it. Principally the concern was that after SegWit is activated, miners can steal any coins despatched to SegWit addresses. It couldn’t "test out the game principle of the blockchain." On Litecoin, however, there could be "incentives for people to attack it.
