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Hard fork looming is making news in today’s world and all the major Bitcoin wallets are concerned about it. BitGo, a multi-signature Bitcoin wallet provider, has already advised the customers on steps that need to be followed when a new chain emerges. Most probably, the new chain would be Bitcoin Unlimited, but these steps can be followed in the emergence of any other fork as well.
An official announcement about the steps that need to be taken was made by Ben Davenport, who is the chief technical officer and co-founder of BitGo. All the required steps that need to be done in the event of a hard fork were stated for the convenience of customers. Until the recent past, BitGo did not assign a high probability of experiencing a hard fork. Therefore, it is time for BitGo customers to consider it and take the required steps.
Bitcoin Unlimited will not be supported
BitGo has officially announced that it is not going to support Bitcoin Unlimited. However, BitGo would support Segregated Witness. BitGo strongly believes that a near term fork would be unhealthy and contentious for the Bitcoin ecosystem. User confusion and brand dilution would take away billions of dollars from the capitalization of its market. Davenport has done a deep analysis about what would happen in the future. Therefore, he made these statements with enough facts to justify his claims.
Read the full article here https://www.crypto-news.net/bitgo-reveals-hard-fork-plans/