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New LTC address format for Freewallet users

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new LTC software update

What happened?

A while ago Litecoin, the seventh-largest cryptocurrency by market cap, activated the Segregated Witness (SegWit) protocol. The protocol was implemented in part to boost the capacity of Litecoin’s currently limited transaction throughput and also to test the waters concerning the long-proposed Lightning Network.

Before the Segwit activation, Litecoin had 2 address formats:

  1. Addresses starting with “3”.
  2. Addresses starting with “L”.

After the Segwit activation, the Litecoin address format was changed so that all post-activation addresses start with “M.”

What’s the deal now?

We did some work on our wallet and upgraded our existing Litecoin software. Now Freewallet supports not only L-addresses, which are non-P2SH (non-SegWit), but also Litecoin’s P2SH addresses that start with the letter “M”.

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