Topic: [2017-10-24] Coinbase, Gatecoin and BTC.com Reveal Segwit2x Splitting Plans (Read 3399 times)

One of the India's biggest exchanges and a NYA signatory, Unocoin had earlier announced on October 18 that they will only be supporting the majority chain and only intends to offer INR trading pairs for the majority chain. But yesterday they released another update to avoid any confusion in the Bitcoin community stating they will be treating the present bitcoin chain as BTC, majority chain and B2X as minority chain with no trading option. Another NYA signatory bails out.


https://blog.unocoin.com/unocoins-stance-on-the-upcoming-segwit2x-fork-6708bf90b1f9

Oh this is bad for the segwit2x group who thought they would take bitcoin, in the end the core would win this dispute and not for less, the core has contributed for years and they know what is best for bitcoin.

I want to see how the miners will react in the coming weeks

Coinbase, Gatecoin and BTC.com Reveal Segwit2x Splitting Plans

A hard fork to increase the block size is planned for the bitcoin network on or around November 16, 2017, at block height 494784, to fulfill the latter half of the so called New York Agreement. With roughly 23 days left until the change and many counter-arguments strewn across the net, many bitcoin-based businesses are starting to reveal fork plans in greater numbers.

Coinbase Reveals the Company’s Chain-Naming Plans


Several Bitcoin Service Providers Reveal Segwit2x Splitting PlansThe Segwit2x fork is approaching, and everyone is starting to talk about it more, as many people and companies are steadily planning their bitcoin storage solutions. Crypto-businesses are now increasingly stepping up to the podium every day to announce their contingency plans for this particular fork. One such company, the San Francisco-based exchange, Coinbase, detailed its fork plans a couple of weeks ago. The exchange did not reveal at the time the names of each bitcoin-based blockchain. Now the firm is stepping forward to detail its token-split naming plans.

“The result of the fork will be two different blockchains, which means there will be two distinct digital assets,” explains Coinbase.

"Following the fork, we will continue referring to the current bitcoin blockchain as Bitcoin with the symbol ‘BTC’.  We will refer to the new blockchain resulting from the fork as Bitcoin2x with the symbol ‘B2X’. If the Segwit2x change is accepted by most users, we may choose to rename these blockchains at a later date."

Coinbase explains there will be no action required by their customers, and all users with a balance of BTC will receive B2X on a 1:1 ratio. The company’s support for buys, sells, sends, receives, as well as “services for both chains may be disabled several hours before and 24-48 hours after the fork.” The company also notes that Segwit2x doesn’t have replay protection, but Coinbase has initiated its own replay safeguard. David Farmer, the Coinbase director of communications, also wrote a separate blog post for the company, revealing its “timeline and support” for both Segwit2x and the bitcoin gold fork. However, the San Francisco company emphasizes that “there are concerns about its [bitcoin gold] security and stability.

Continue...https://news.bitcoin.com/several-bitcoin-service-providers-reveal-segwit2x-splitting-plans/