{"id":236776,"date":"2017-11-09T08:17:59","date_gmt":"2017-11-09T06:17:59","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=236776"},"modified":"2017-11-09T08:19:18","modified_gmt":"2017-11-09T06:19:18","slug":"bitcoin-segwit2x-called-off","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/236776-bitcoin-segwit2x-called-off.html","title":{"rendered":"Bitcoin SegWit2X called off"},"content":{"rendered":"<p>Bitcoin&#8217;s\u00a0SegWit2X fork\u00a0<a href=\"https:\/\/lists.linuxfoundation.org\/pipermail\/bitcoin-segwit2x\/2017-November\/000685.html\" target=\"_blank\" rel=\"noopener\"><strong>has been suspended<\/strong><\/a> and is unlikely to happen in the future.<\/p>\n<p>Companies and developers behind\u00a0SegWit2X stated that the purpose of\u00a0it was to improve Bitcoin scalability and increase its blocksize.<\/p>\n<p>The plan drew criticism from many Bitcoin players, however, who were opposed to the plan.<\/p>\n<p>&#8220;The Bitcoin community was in crisis after nearly three years of heavy debate, and consensus for SegWit seemed like a distant mirage with only 30% support among miners,&#8221; said Mike Belshe, BitGo CEO, about the formation of the SegWit proposal.<\/p>\n<p>&#8220;SegWit2X found its first success in August. Since that time, the team shifted its efforts to phase two of the project &#8211; a 2MB blocksize increase.&#8221;<\/p>\n<p>Belshe said the goal was for a &#8220;smooth upgrade&#8221; of Bitcoin, and although they believe a bigger blocksize is necessary,\u00a0keeping the Bitcoin community together is important.<\/p>\n<p>&#8220;Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin\u2019s growth.&#8221;<\/p>\n<p>He said that as fees rise on the blockchain, it will become &#8220;obvious that on-chain capacity increases are necessary&#8221;.<\/p>\n<p>&#8220;When that happens, we hope the community will come together and find a solution.&#8221;<\/p>\n<h3 class=\"my-4\">Now read:\u00a0<a href=\"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/236638-parity-library-killed-r2-billion-in-ethereum-locked-up.html\" rel=\"bookmark\">Parity library killed \u2013 R2 billion in Ethereum locked up<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s\u00a0SegWit2X fork has been suspended and is unlikely to happen in the future.<\/p>\n","protected":false},"author":23,"featured_media":236282,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,44674],"class_list":["post-236776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-segwit2x"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/236776"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=236776"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/236776\/revisions"}],"predecessor-version":[{"id":236780,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/236776\/revisions\/236780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/236282"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=236776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=236776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=236776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}