Topic: Allcoin's Program for Bitcoin Segwit2x Hard Fork (Read 270 times)

Dear users:

On May 23, 2017, 58 companies from 22 countries around the world signed the New York consensus (Segwit2x). The group of signed companies represents 83.28% hashrate, over 5.1 billion USD monthly on chain transaction volume and 20 million bitcoin wallets. And the group agreed to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2MB proposal: activate Segregated Witness at an 80% threshold, signaling at bit 4 and activate a 2MB hard fork within 6 months. Segwit2x was officially activated on July 23, 2017. Approximately 90 days after the activation of Segregated Witnesses on the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by Bitcoin miners. Therefore, an upcoming bitcoin Segwit2x hard fork is estimated to take place on November 19, 2017.

As the first listed digital asset exchange in the world, Allcoin will support all coins deriving from bitcoin Segwit2x hard fork. Therefore, Allcoin is preparing for the upcoming bitcoin Segwit2x hard fork with the following guidelines:

1. Since the upcoming Segwit2x hard fork may take place, Allcoin will suspend bitcoin deposit and withdrawal service between 24 hours and 72 hours prior to the hard fork, in order to prevent potential technical risks such as replay attacks and other issues that may cause the network's instability.
2. Decide which coin is BTC and rename the new chain split coin. Confirm the time to take snapshots of our every user's BTC balances. Allcoin will keep you updated with future announcements.
3. Take snapshots of all our every user's balances. Users who own BTC at the snapshot moment will be rewarded with another chain split coin at a ratio of 1:1.
4. Allcoin will resume the deposit & withdrawal service of BTC and the another chain split coin soon after hard fork.

If hard fork does not take place or fails, your digital assets won't be impacted at all.

Kind Reminder: If your bitcoins are stored on trading exchanges which not support all Segwit2x chain split coins or you are using wallet without anti-replay attack function, we strongly suggest you deposit bitcoins into Allcoin and we will handle all resulting technical issues related to the bitcoin Segwit2x hard fork and reward you with the corresponding digital assets as we mentioned above. If you have bitcoins in your Allcoin account, we will guarantee that all your assets are safe with us throughout the hard fork event.

Allcoin Team