• Latest
  • Trending
Here’s what pushed Litecoin’s SegWit usage to 90%

Here’s what pushed Litecoin’s SegWit usage to 90%

June 25, 2021
Bitcoin Price Today Rises Near $48,000; Ether, Cardano Slightly Up, Know Crypto Rates

Bitcoin Price Today Rises Near $48,000; Ether, Cardano Slightly Up, Know Crypto Rates

January 5, 2022
BitYard Integrates 80+ Chainlink Price Feeds for Enhanced Price Accuracy and Stability – Press release Bitcoin News

BitYard Integrates 80+ Chainlink Price Feeds for Enhanced Price Accuracy and Stability – Press release Bitcoin News

December 20, 2021
Here’s what global CEO’s think about cryptocurrency

Millennial millionaires plan to make more cryptocurrency investments in 2022: Survey

December 20, 2021
Tesla Motors, Inc. (NASDAQ:TSLA), Dogecoin – United States Dollar (CRYPTO:$DOGE) – Elon Musk Says This Is How Much He Would Pay In Taxes This Year

Tesla Motors, Inc. (NASDAQ:TSLA), Dogecoin – United States Dollar (CRYPTO:$DOGE) – Elon Musk Says This Is How Much He Would Pay In Taxes This Year

December 20, 2021
Former Argentina President Calls Ethereum Most Innovative Technology

Former Argentina President Calls Ethereum Most Innovative Technology

December 20, 2021
DeFi protocol Grim Finance lost $30M in 5x reentrancy hack

DeFi protocol Grim Finance lost $30M in 5x reentrancy hack

December 20, 2021
Need to Explain #Litecoin at #Thanksgiving? – Latest Tweet by Litecoin

@LinkSemper – Latest Tweet by Litecoin

December 20, 2021
BREAKOUT COMNG SOON! – RIPPLE XRP PRICE PREDICTION! – RIPPLE XRP 2021 – RIPPLE ANALYSIS

BREAKOUT COMNG SOON! – RIPPLE XRP PRICE PREDICTION! – RIPPLE XRP 2021 – RIPPLE ANALYSIS

December 20, 2021
An LTC Move Back to $150 Should Support ETH and XRP

An LTC Move Back to $150 Should Support ETH and XRP

December 20, 2021
Avalanche eyes 60% rally as AVAX price breaks out of bull flag

Avalanche eyes 60% rally as AVAX price breaks out of bull flag

December 20, 2021
Travel Co Travala.com Accepts Bitcoin Payments

Travel Co Travala.com Accepts Bitcoin Payments

December 20, 2021
Puerto Rico plans to combat corruption with blockchain

Puerto Rico plans to combat corruption with blockchain

December 20, 2021
Whales Control 94% of All ADA Supply | Only 10% of Wealthiest Cardano Addresses

Whales Control 94% of All ADA Supply | Only 10% of Wealthiest Cardano Addresses

December 20, 2021
Breaking down Resistance at $48,500 Remains Key for the Bitcoin (BTC) Bulls

Breaking down Resistance at $48,500 Remains Key for the Bitcoin (BTC) Bulls

December 20, 2021
City employees could see cryptocurrency payroll conversion options next year, first in nation

City employees could see cryptocurrency payroll conversion options next year, first in nation

December 20, 2021
Tuesday, July 5, 2022
The Crypto Dirt
  • Home
  • Cryptocurrency
  • Blockchain
  • DeFi
  • NFT
  • Bitcoin
  • Ethereum
  • Altcoins
    • Cardano
    • XRP
    • Litecoin
    • Chainlink
  • Shit Coins
    • Dogecoin
  • Exchanges
No Result
View All Result
No Result
View All Result

Here’s what pushed Litecoin’s SegWit usage to 90%

by TheCryptoDirt.com
June 25, 2021
in Litecoin
0

YOU MAY ALSO LIKE

@LinkSemper – Latest Tweet by Litecoin

Avalanche, Litecoin, Stellar Price Analysis: 18 December

[ad_1]

Litecoin has dropped by 68% ever since its peak was famous earlier in Might. Though the value of the digital asset has been falling recently, curiously, its Segregated Witness or SegWit utilization hit a yearly excessive of 90% on 25 June.

SegWit was adopted by Litecoin in 2017 and is a change within the transaction format of LTC which will increase knowledge effectivity and lowered prices, amongst different results.

David Schwartz, the Venture Director at  Litecoin Basis, shared these statistics with the group at the moment and revealed that this has been the very best worth reported for the reason that introduction of an RPG recreation, LiteBringer. The chart beneath highlighted Litecoin’s SegWit utilization –

Supply: Blockchair

Based on the hooked up chart, the SegWit utilization for LTC jumped from September 2020 to October 2020. This coincided with the launch of the LiteBringer recreation in September. It was famous that each transfer throughout the recreation impacts the Litecoin ecosystem in varied methods and this turned clear when the transactions per second spurred to +60k inside 24 hours and most of them have been microtransactions of beneath $1 related to the sport.

On 24 June, the sport launched its eleventh update, a growth that has as soon as once more resurrected and pushed Litecoin’s SegWit utilization to 90%. This has additionally pushed the median charges all the way down to ranges final seen in September and October 2020, upon LiteBringer’s launch. In 2020, the median transaction charges plummeted to $.0002 from round $0.0005-0.0008 beforehand. The truth is, some have advised that these microtransactions are “spamming” the blockchain.

It’s price noting, nonetheless, that it has helped cut back the transaction charges as soon as once more.

Supply: Blockchair

Because the charges fell and the utilization spiked, non-monetary outputs [NMOs] additionally registered a dramatic improve. Since this was not precise money, however belongings for barter throughout the blockchain, the mentioned spike may be related to the sport. As per knowledge, the NMOs remained beneath 10% till lately, however spiked to fifteen% on 24 June.

Supply: Blockchair

Apparently, all of the SegWit exercise witnessed was after a recreation that induced momentum within the SegWit utilization. Naturally, this sudden progress can’t be sustained by the customers. In 2020, when the sport was launched, the same spike in NMOs and utilization was seen. Nevertheless, because the hype died down, each metrics noticed a visual correction to unique ranges.

Bitcoin was the primary one to undertake SegWit in 2015 to deal with its scalability points. In 2021, SegWit utilization averaged 51% and reached an all-time high of 73% at the moment. Nevertheless, not like LTC, BTC didn’t present a particular motive for such a drastic improve by June. Litecoin has undoubtedly benefitted from the rise in transactions and lowering median charges, however a recreation will not be sufficient for steady progress.


Subscribe to our Newsletter


[ad_2]

Source link

Tags: HeresLitecoinsPushedSegWitusage
ShareTweetShare

Search

No Result
View All Result
  • Privacy & Policy
  • About Us

© 2021 The Crypto Dirt  

No Result
View All Result
  • About Us
  • About Us
  • Attribution
  • Contact
  • Contact Us
  • Exchanges
  • Home
  • NFT
  • Privacy & Policy
  • Shit Coins

© 2021 The Crypto Dirt