SegWit2x nearly complete

Today, the SegWit protocol has been activated in the Bitcoin blockchain. Previously, some users considered it unnecessary and increased the size of the typical block in the chain instead, thus creating a completely new Bitcoin Cash cryptocurrency, which later proved its value to the market and entered the Top 3 most popular digital currencies among traders.

Looks like that at least some parts of this story are going to repeat again in November. The cryptocurrency enthusiasts who developed a controversial BTC1 client are planning to introduce their own cryptocurrency protocol with enabled set of solutions named SegWit2x. This one will take what the creators consider best features from the current Bitcoin protocol and the Bitcoin Cash framework as well: blocks will be increased (from 1 to 2 MB), but some SegWit solutions will be implemented, too.

The development team has lately published a new status report where they tell: “The software is working as intended and there have been no bugs or faults.” Not everyone shares this sentiment – James Hilliard, the developer of BIP 91, openly expressed his doubts in the media that this new protocol will work as intended. Other Bitcoin enthusiasts are not thrilled about the concept that Bitcoin needs to multiply even more – with new competitors, it might lose some holders and some value as a result.