Bitcoin segwit2x fork news

Advocates for a bitcoin hard fork have now decided to cancel plans for the so-called SegWit2x fork. The bitcoin blockchain was supposed to split into two blockchains in roughly 8 days.

Controversial Bitcoin hard fork Segwit2x has been shelved

The SegWit2x fork should have increased the block size to 2 megabytes. This change could have helped when it comes to bitcoin scalability. But it has always been a controversial change and many bitcoin companies have not actively supported the move.

The opposing camp views bitcoin as a type of digital gold, meant for storing in a vault rather than used to pay for coffee. Bitcoin has already forked twice this year, creating the bitcoin cash and bitcoin gold cryptocurrencies.

Neither has threatened the dominance of the original chain because they have not attracted enough investors. But the Segwit2x fork was seen as a credible threat to the original bitcoin chain because of the amount of industry support behind it. The abandonment of the Segwit2x fork is a major victory for proponents of bitcoin as a kind of digital gold by maintaining the status quo.

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By providing your email, you agree to the Quartz Privacy Policy. However, since the SegWit2x chain did not include a mining difficulty reset, it will be as hard to mine a B2X block as it currently is to mine a BTC block.

SegWit2x - Bitcoin Wiki

This project, supposedly started by disappointed SegWit2x supporters, will take a snapshot of bitcoin balances at block height , and start a SegWit2x-like altcoin that offers all BTC holders the equivalent amount in BTX. Though, while this coin is arguably more viable than B2X thanks to a mining difficulty reset and more, it really is a new coin — arguably even more so than B2X would have been. Press Releases. Learning Bitcoin. By Aaron van Wirdum.