Quite abruptly, the coalition that had proposed a hard fork for mid-November sent a brief email on November 8 to call off the plan. The battle between members of the bitcoin community seems to have come to an end, although it’s unclear whether the peace will last. For roughly three years, developers, miners, investors, and other bitcoin enthusiasts have engaged in acrimonious debate about how to allow the cryptocurrency network to process more transactions at once. One compromise that rose to prominence was a so-called “hard fork,” which would divide the leading cryptocurrency into two competing blockchains. Perhaps predictably, there was significant backlash from some supporters of bitcoin, which led to the fork’s cancellation. The big question is what will happen now.
SegWit2x Called Off in Favor of Community Unity
The debate over the so-called SegWit2x protocol (so named because it itself is a compromise between a solution referred to as SegWit and a hard fork which…