‘Segwit2x’ Bitcoin Fork CANCELLED

No, it’s not April 1st. The latest planned fork of Bitcoin has been cancelled due to a lack of support.

The proposed fork would’ve introduced 2 new features to their version of the cryptocurrency.

  • To increase the block size from 1 to 2 MB, which would occur three months after SegWit has been activated. This would’ve brought down transaction fees considerably, because the blockchain could process double the amount of transactions in each block.
  • SegWit itself – which optimizes the blockchain to fit even more transactions in a block.

The average person would probably agree that these changes would’ve been a good thing, but with 3 forks of Bitcoin in recent years, people don’t want another version of bitcoin as only one can truly prevail eventually and adding another coin just adds to the uncertainty.

After the announcement of the cancellation the price of bitcoin jumped to almost $7900, a sign from the community that Bitcoin is still a strong, viable currency.

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