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Thursday, November 9, 2017

Crypto News: Closing the Curtains On Segwit2x and the Following Aftermath

Closing the Curtains On Segwit2x and the Following Aftermath

It all started back in May when the venture capital firm, Digital Currency Group, announced the Segwit2x plan, which would activate Segregated Witness (Segwit), to be followed up three months later with a 2 MB block size increase. Segwit was activated this past August by a vast majority of miners, but following the implementation, the 2 MB hard fork became ‘controversial.’

Up until the day before yesterday, according to Segwit2x’s lead developer Jeff Garzik, the project was “full steam ahead.” However, on November 8, on the projects’ developers mailing list, Mike Belshe (Bitgo), Wences Casares (Xapo), Jihan Wu (Bitmain), Peter Smith (Blockchain) and Erik Voorhees (Shapeshift) revealed the team could not “build consensus.”

Immediately following the announcement, social media and bitcoin-centric forums erupted with people’s opinions about the canceling of Segwit2x. The entire front page of the Reddit forum /r/bitcoin was littered with tweets from bitcoin luminaries like Charlie Shrem, Francis Pouliot, Jameson Lopp, and more. For instance, one such post highlights bitcoin developer Peter Todd’s statements, who mentions the six signatories left on the announcement email stating:

"In case you were wondering who to send the bill for the millions of dollars worth of engineering time wasted on this mess."

Full story at

Source: Bitcoin News

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