The Litecoin community is quite excited about a project developed by MIT. It is a bit unclear as to what this project entails exactly since no one knows for sure what it is about. We do know it is a project which will go live on August 1st this year. On this day, the Bitcoin UASF is expected to go live as well. It will be quite interesting to see what MIT has up their sleeve, to say the least.
A lot of people were quite surprised to find out this new webpage on the MIT domain. It is evident the institution is planning to release a new Litecoin-related project. For now, it is anybody’s guess as to what this Litecoin project entails exactly. We do know it has the Litecoin logo, and it goes live on August 1st. Even Charlie Lee has no idea about this project, which makes it even more intriguing.
What is This Mysterious MIT Project?
According to Lee’s opinion, though, it is possible this has something to do with the MIT DCI Lit lightning network.To be more specific, the lit project is a lightning node anyone can run on their own. It is still in the very early stages of development, to say the least. However, it goes to show there is a growing need for Litecoin lightning network solutions. After all, Litecoin is well ahead of Bitcoin in achieving this major milestone.
It will be interesting to see what we can expect from this MIT project. It is quite good to see the institute focus on Litecoin technology at this time. Moreover, the release date is very aptly chosen, to say the least. Going toe-to-toe with the Bitcoin UASF activation date is quite interesting, to say the least. With so many things going on in Bitcoin right now, it is certainly possible Litecoin will come out on top when everything’s said and done.
Although many people feel the Bitcoin USF is the only solution that matters, the mining community may have a different opinion. It looks very likely SegWit2x will be activated the day before. Although SegWit2x and the UASF are not mutually exclusive by any means, it is uncertain if the soft fork will ever get enough traction. The coming weeks will be quite interesting for both Bitcoin and Litecoin, that much is evident.