The last time we checked with Litecoin, its creator Charlie Lee left Coinbase to focus on his own project. The mission at hand was implementing SegWit in the Litecoin blockchain, which is easier said than done. This story is as exciting as they come. It has twists and turns and it ends with a bang. Through the following tale, we’ll learn a lot about consensus. One of the most mysterious aspects of the cryptocurrency space is how decisions are made. Are you ready to learn through a practical example?
But before we get into it, let’s let Mr. Lee himself define SegWit:
“SegWit stands for Segregated Witness. It’s basically an upgrade that would separate out the signature (i.e. witness) from the transaction.”