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This old and widely discussed update originally intended for the bitcoins(because bitcoin is top 1 crypto) network is now fixed in the lesser known cryptocurrency network litecoin, you can see on primexbt wallet

Segregated Witness (SegWit) has been the subject of an unhealthy controversy among the bitcoin supporters for two years. From now on it will work in the litecoin network. Primexbt trading will support of the update claim that SegWit will help to find out how justified the fears of introducing this change for bitcoin network are.

The update was first made two weeks ago. It took two weeks to verify its correctness/compatibility with the network. 4 years ago, Ltc blockchain in the morning SegWit was activated in block 1201536!

What does it mean? Users of the Litecoin network on primexbt will now be able to use a new type of transaction. At the moment, there is at least one such transaction. Most supporters are now delighted at the prospect of introducing innovative add-ins to the network with SegWit. For example, the Lightning Network like bitcoin, will now be able to increase the litecoin transaction by million times.

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“Today is a great day to start working with the awesome technological innovations in litecoin network. When SegWit is activated in the main litecoin network, I will wait for the deployment of confidential transactions – Lightning Network, MAST and Schnorr.”
Loshan T.(one of the developers of Litecoin)

Nevertheless, it is still quite an early stage. For example, the developers from the Lightning Labs start-up think that “it is still too early to talk about sending funds through an experimental network thinking of some of the shortcomings of their code.”

Uncertain future of Litecoin

It is not yet clear, what exactly this activation means, and what role will be played by litecoin in the future.

Loshan mentioned that some experts are skeptical about the fact that litecoin needs Lightning Network. However, the developer believes that while litecoin transaction blocks are not yet full, they point out unreliable transactions between the btc and ltc chains – which is good for both cryptocurrencies even though this is a potential case of using the Lightning Network.

Important point is your wallets will need to be updated to support this type of transactions, a lot of exchange support SegWit like binance bittrex. For example, on primexbt wallet has already done this.

In addition, there have been some logistic and political concerns about the activation. Previously, the developers haven’t been sure that all the miners and exchanges are fully prepared for SegWit.

Time will show which of these concerns will turn out to be really troublesome/critical. In the meantime, crypto-currency is working just fine!