The Segwit2X fork was abandoned by its developing team shortly before the fork was set to take place in mid-November. However, the project was taken up again. The networkd is set to fork at block height 501,451, which is likely to be on December 28, 2017.
Currently, several cryptocurrency exchange platforms still offer futures trading at prices of around 0.01 BTC. To address this and several other issues, the Segwit2X team has introduced a Segregated Witness feature on its platform, as well as several other features, including:
However, the team’s roadmap also boasts several other features, including:
According to Jaap Terlouw, CEO of the Segwit2X project, the current slow transactions speeds and exorbitant transaction fees have made the network increasingly impractical for several users. With an average transaction fee of $15, the original bitcoin network is slowly losing its utility for everyday payment methods.
The Segwit2X team does not intend to entirely replace the existing standard, but rather aims to create a peaceful co-existence in the bitcoin universe, They hope to be a useful addition to the original bitcoin network. Following the hard fork, the Segwit2X network will become active, and enhance the overall network.
The Segwit2X team has also added that all bitcoin holders will receive their share of B2X holdings on a 1:1 ratio. The team also noted that miners will receive an extra reward for their mining efforts. Interested investors are advised to follow the bitcoin Segwit2X project on http://b2x-segwit.io as well as on its social media channels, including Twitter.
Currently, several cryptocurrency exchange platforms still offer futures trading at prices of around 0.01 BTC. To address this and several other issues, the Segwit2X team has introduced a Segregated Witness feature on its platform, as well as several other features, including:
- Larger block sizes of up to 4mb.
- A block production rate with a high of 2.5 minutes.
- New address format.
- Complexity recalculation following the completion of each block.
- Protocols to prevent repeat transactions.
- Implementing the X11 encryption method.
However, the team’s roadmap also boasts several other features, including:
- Codes for offline functionality.
- Support for Lightning Network-based transactions.
- ZkSnark
- Implements Ethereum smart contracts.
- Enhanced anonymity features.
According to Jaap Terlouw, CEO of the Segwit2X project, the current slow transactions speeds and exorbitant transaction fees have made the network increasingly impractical for several users. With an average transaction fee of $15, the original bitcoin network is slowly losing its utility for everyday payment methods.
The Segwit2X team does not intend to entirely replace the existing standard, but rather aims to create a peaceful co-existence in the bitcoin universe, They hope to be a useful addition to the original bitcoin network. Following the hard fork, the Segwit2X network will become active, and enhance the overall network.
The Segwit2X team has also added that all bitcoin holders will receive their share of B2X holdings on a 1:1 ratio. The team also noted that miners will receive an extra reward for their mining efforts. Interested investors are advised to follow the bitcoin Segwit2X project on http://b2x-segwit.io as well as on its social media channels, including Twitter.