Why litecoin had SegWit so fast? - page 2.

Mandoy

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Aurox

Quote from: freedomno1 on July 02, 2017, 02:38:26 AM

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

The creator of litecoin Charlie Lee supported it, talked with the necessary people and implemented a plan that no one had any real issues with hence it was approved sealed and a done deal.
https://www.cryptocoinsnews.com/litecoin-creator-charlie-lee-urges-jihan-wu-to-signal-for-segwit-antpool-obliges/
(Also the transaction capacity was not near the 1MB limit yet so a lot less impact they have more time to study things later)
Bitcoin the foundation and other groups suggested it met pushback and hence we had a blockscale debate on the best implementation due to a variety of political monetary and strategic issues that scaling presented and the transaction limit was approaching so issues and debate hence drama.

Unlike litecoin bitcoin has no center and its creator was hiding in the shadows and does not appear in public. This is one of the major reasons why activating segwit will take a very long time. Another thing is that there are different groups having different sides and will have their own code and will not stick to segwit. To make segwit activated there is a need for a consensus, but a consensus is very hard to get thus UASF is created to make sure that everything will be in favor of the bitcoin holders. With UASF in the picture segwit activation has become possible. But in order to reach that far the bitcoin community has encountered many problems and challenges.

iamTom123

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The activation of SegWit in the Litecoin network came so fast and without any dramatic ups and downs all because all of the stakeholders agreed to adopt it...and the same thing can not be said on Bitcoin. So what hampered the implementation of that in Bitcoin is actually the failure to reach the needed consensus. Hopefully, this whole mess can be over soon as this is getting to be a dark cloud hanging over Bitcoin for a long time. A good solution has to come otherwise Bitcoin would suffer greatly.

We all understand that there are so many self-vested interests working now in the Bitcoin community and some are putting up factions to counteract another group with different suggestions and ideas to solve the scaling problem. The idea that they can have a sit down and have a heart-to-heart talks seem foreign to them...until that recent consensus arrived in New York.

beerlover

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Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

Altcoins are just test rats and it is once again proved when litecoin went forward to test a solution for scalability issue in real time scenario.
Probably litecoin might tried to get attention of crpto community (and especially investors) by adopting segwit but unfortunately it is still strucking under 0.02BTC levels yet.

buwaytress

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Litecoin and Bitcoin, all things equal, just had a difference in scale. As so adequately explained, consensus was necessary for both networks, but easier to achieve in the considerably smaller ecosystem of Litecoin. Bitcoin also started out the same way, with the early, recognisable developers proposing ideas that everyone was happy to onboard. Litecoin will hope, I am sure, to grow to the point it will face the same issues Bitcoin has today.

It's simply the mark of maturity.

canvan

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Quote from: Xavofat on July 02, 2017, 02:49:34 AM

Quote from: metalbean on July 02, 2017, 02:44:35 AM

Quote from: freedomno1 on July 02, 2017, 02:38:26 AM

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

The creator of litecoin Charlie Lee supported it, talked with the necessary people and implemented a plan that no one had any real issues with hence it was approved sealed and a done deal.
https://www.cryptocoinsnews.com/litecoin-creator-charlie-lee-urges-jihan-wu-to-signal-for-segwit-antpool-obliges/
(Also the transaction capacity was not near the 1MB limit yet so a lot less impact they have more time to study things later)
Bitcoin the foundation and other groups suggested it met pushback and hence we had a blockscale debate on the best implementation due to a variety of political monetary and strategic issues that scaling presented and the transaction limit was approaching so issues and debate hence drama.

Why did litecoin decided on a 50% vote while bitcoin had to go for a 95% vote?

It didn't. All of the major Litecoin pools agreed to SegWit and the support went over 95%.

It was easier for Litecoin because it was smaller with less money involved, so people found it easier to reach consensus. Plus, we can only speculate about what satoshi wants/would want, but Charlie Lee openly supported it.

Your first statement sums up quite well the problem with reaching agreements especially ones that need to be nearly unanimous, the more parties there are to it the harder to gets and then big money always gets in the way.

ActiveP

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A lot of people in litecoins plus its miners want the best for litecoins. We know litecoin is not doing great in the market, and I feel it is undervalued. It was easier to implement segwit and get a consensus because almost everyone involved wants to see the coin gain value and it was an obviously good decision. The people involved in bitcoin are mostly driven by greed.

Tegula

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That is because Litecoin is not yet corrupted from the inside by a Troyan horse called Unlimited, acting for anything but Bitcoin interest.

metalbean

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Quote from: bouren on July 02, 2017, 04:10:08 AM

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

Activation of Segwit depends upon consensus of miners. In case of LTC, all the number of miners were low and all of them were in favour of change (including founder) so it was pretty easy to apply.
But in case of BTC, number of miners are too high and everyone have different opinions. So if Segwit applied half heartly at 50-60% consensus, it may leads to opposite circumstances in BTC ecosystem like we see in "Democratic Countries regarding Government ".

"Democratic Countries regarding Government " nicely said, explains why sometimes things move faster at not so democratic countries *cough*

bouren

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Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

Activation of Segwit depends upon consensus of miners. In case of LTC, all the number of miners were low and all of them were in favour of change (including founder) so it was pretty easy to apply.
But in case of BTC, number of miners are too high and everyone have different opinions. So if Segwit applied half heartly at 50-60% consensus, it may leads to opposite circumstances in BTC ecosystem like we see in "Democratic Countries regarding Government ".

Xavofat

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Did you see that ludicrous display last night?

Quote from: metalbean on July 02, 2017, 02:44:35 AM

Quote from: freedomno1 on July 02, 2017, 02:38:26 AM

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

The creator of litecoin Charlie Lee supported it, talked with the necessary people and implemented a plan that no one had any real issues with hence it was approved sealed and a done deal.
https://www.cryptocoinsnews.com/litecoin-creator-charlie-lee-urges-jihan-wu-to-signal-for-segwit-antpool-obliges/
(Also the transaction capacity was not near the 1MB limit yet so a lot less impact they have more time to study things later)
Bitcoin the foundation and other groups suggested it met pushback and hence we had a blockscale debate on the best implementation due to a variety of political monetary and strategic issues that scaling presented and the transaction limit was approaching so issues and debate hence drama.

Why did litecoin decided on a 50% vote while bitcoin had to go for a 95% vote?

It didn't. All of the major Litecoin pools agreed to SegWit and the support went over 95%.

It was easier for Litecoin because it was smaller with less money involved, so people found it easier to reach consensus. Plus, we can only speculate about what satoshi wants/would want, but Charlie Lee openly supported it.

metalbean

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Quote from: freedomno1 on July 02, 2017, 02:38:26 AM

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

The creator of litecoin Charlie Lee supported it, talked with the necessary people and implemented a plan that no one had any real issues with hence it was approved sealed and a done deal.
https://www.cryptocoinsnews.com/litecoin-creator-charlie-lee-urges-jihan-wu-to-signal-for-segwit-antpool-obliges/
(Also the transaction capacity was not near the 1MB limit yet so a lot less impact they have more time to study things later)
Bitcoin the foundation and other groups suggested it met pushback and hence we had a blockscale debate on the best implementation due to a variety of political monetary and strategic issues that scaling presented and the transaction limit was approaching so issues and debate hence drama.

Why did litecoin decided on a 50% vote while bitcoin had to go for a 95% vote?

freedomno1

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Learning the troll avoidance button :)

Quote from: metalbean on July 02, 2017, 01:53:09 AM

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

The creator of litecoin Charlie Lee supported it, talked with the necessary people and implemented a plan that no one had any real issues with hence it was approved sealed and a done deal.
https://www.cryptocoinsnews.com/litecoin-creator-charlie-lee-urges-jihan-wu-to-signal-for-segwit-antpool-obliges/
(Also the transaction capacity was not near the 1MB limit yet so a lot less impact they have more time to study things later)
Bitcoin the foundation and other groups suggested it met pushback and hence we had a blockscale debate on the best implementation due to a variety of political monetary and strategic issues that scaling presented and the transaction limit was approaching so issues and debate hence drama.

metalbean

full member

Activity: 448

Merit: 103

Why did litecoin manage to get SegWit so fast while bitcoin is still slow and painful.

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