Crypto News: 2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus

The organizers of a controversial bitcoin scaling proposal are suspending an attempt to increase the block size by way of a software upgrade.

Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply 2x, was to trigger a block size increase at block 494784, expected to occur on or around November 16th.

The suspension was announced today in an email, written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward.

"Unfortunately, it is clear that we have not built sufficient consensus for a clean block size upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x."

Full story at http://bit.ly/2jb4RSc

Source: CoinDesk

 

 

 

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