Post
Topic
Board Economics
Re: Why litecoin had SegWit so fast?
by
canvan
on 02/07/2017, 20:27:38 UTC
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.