Bitcoin fork SegWit2x cancelled

Co-founder of Bitcoin wallet software provider BitGo announced suspension of higly anticipated Bitcoin fork SegWit2x
08 November 2017   2744

On November 8, Mike Belshe, one of the leaders of the Segwit2x project and CEO and co-founder of Bitcoin wallet software provider BitGo announced in an email that Bitcoin fork SegWit2x is currently being suspended. The fork was expected to occur sometime in November 2017.

The aim of the project was an upgrade of Bitcoin, though the developers of the project state that the current aim they posses is keeping the community together. SegWit2x was not higly supported by miners and exchanges, for instance SurBTC left SegWit2x agreement in October, and Charlie Lee, Litecoin creator, announced his rejection of the fork. Moreover, crypto specialist and researcher Nick Szabo posed himself as an opponent of SegWit2x too.

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’s growth. This was never the goal of Segwit2x.

Mike Belshe

BitGo Inc., CEO 

The announcement was signed by CEO and co-founder Mike Belshe, mining pool Bitmain co-founder Jihan Wu, Xapo CEO Wences Casares, Bloq CEO and co-founder Jeff Garzik, Blockchain CEO and co-founder Peter Smith and Shapeshift CEO and founder Erik Voorhees.

A long-awaited Bitcoin fork SegWit2x was aimed at the increase of size of block 494784 to 2MB and improving Bitcoin scalability.

Bitcoin charts november 2017Bitcoin Charts

It is worth mentioning that Bitcoin price rose immediately after the announcement had been made, rising by almost 5% in one hour from $7484 to $7776, but then started falling down and at the press-time is traded at $7639 having market capitalisation of $127 billion.

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   236

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.