BTCC Mining Pool Stops Signaling for SegWit2x
More and more signs are pointing to the SegWit2x hard fork not taking place te November of this year. After F2Pool pulled its support, it emerges BTCC is doing the same. The mining pool mined several blocks te a row which did not signal for SegWit2x, which is an intriguing development. It remains unclear how this will affect the chances of SegWit2x, but it seems things are leisurely commencing to fall exclusief spil the deadline draws near.
What is the Future of SegWit2x?
A few weeks ago, well before all the latest schouwspel commenced to unfold, wij pondered the future of SegWit2x spil a entire. At the time, there did not emerge to be a legitimate reason for this hard fork to carry on. After all, the Bitcoin network had received its SegWit update. People looking for thicker block sizes could use Bitcoin Contant, which is doing well enough on its own. There is no reason to merge both concepts into one at this point.
It emerges some mining pools agree with this sentiment. F2Pool has already pulled out of the requirement to signal for SegWit2x moving forward. The pool’s technicus confirmed that he had only agreed to the Fresh York Agreement to ensure that SegWit would activate on the Bitcoin network. There wasgoed never any real intent to support SegWit2x, spil this hard fork provides no significant updates and certainly does not have economic support from the community at this stage. That situation will not be switching soon, by the looks of things.
The BTCC mining pool has now stopped signaling for SegWit2x spil well. BTCC mined a few blocks ter quick succession which did not signal for SegWit2x. To many people, this is only a sign of things to come. It is not unlikely more mining pools would renege on their support for SegWit2x spil well. Now that Bitcoin has Segregated Witness, there is no reason for a 2x solution on top of it.
It is still possible wij will see a SegWit2x hard fork te November, spil there is some support from other mining pools for this solution. However, all of thesis companies are signaling only the intent to support SegWit2x come November. This does not mean all of thesis pools will support this hard fork when it activates on the network. BitFury is another pool rumored to pull its support for 2X ter the future, albeit that has not bot officially confirmed.
Overheen on the /r/BTC subreddit, the comments regarding this situation are not too kleintje. That is not entirely surprising, spil that particular community is spil anti-Bitcoin Core spil it can get. Any decision that positively affects Bitcoin Core will be scrutinized by some community members. Discussions like thesis are usually pointless, since anyone can support whichever scaling solution they want moving forward. That does not mean the surplus of the Bitcoin ecosystem will agree upon this version of the blockchain, however.
Even with BTCC pulling out for the time being, the SegWit2x solution still has slew of mining support. At last check, the intention to signal SegWit2x still sat at around 94.2% of blocks, which is a loterijlot higher than most would have assumed. That number included support from BTCC, however, spil the statistics have yet to update. It will be interesting to see how this situation evolves overheen the coming weeks and months.
About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living ter Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect te the FinTech sector.