Litecoin [LTC] overtakes Bitcoin [BTC] in SegWit usage, approaching 50%

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Litecoin [LTC] overtakes Bitcoin [BTC] in SegWit usage, approaching 50%

Post by howlermunkey » Sun Sep 09, 2018 12:18 pm

Litecoin [LTC] has taken over Bitcoin [BTC] in terms of SegWit adoption, as it the percentage of blocks utilizing SegWit nears 50%. This comes after a sudden drop was seen in the use of SegWit on 3rd September.

The drop occurred when Litecoin’s number of daily transactions spiked up from around 25,000 to 75,000. This led many to believe that there was a large volume of low-frequency transactions that occurred without the activation of SegWit on them. Relatively, this would be listed as a drop in the percentage use of SegWit transactions, as seen on the graph.

Charlie Lee, the Chairman and Managing Director of the Litecoin Foundation, recently tweeted about the event, stating:

“Litecoin SegWit usage overtakes Bitcoin and nears 50%. Thanks @Blockchair for compiling this data. Check them out. They have a very cool SegWit-aware block explorer for Litecoin.” ... aching-50/

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Re: Litecoin [LTC] overtakes Bitcoin [BTC] in SegWit usage, approaching 50%

Post by Typhoon_SSN » Wed Sep 26, 2018 8:39 am

It's logical after all ; LiteCoin may well have a wider user base. Why? Because Bitcoin made cryptocurrencies famous, but by the time it became widely known and widespread, its worth had skyrocketed and it wasn't really easy to get any significant amount of that currency. Now Litecoin (and Ethereum) rode on the wave of the newcomers to cryptocurrencies that wanted to take part but were scared of the price of bitcoin... And that's why these became widespread.

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