3 Things You Need To Know About The Bitcoin Segwit2X Fork
10This video is about 3 important things that one needs to take note of the upcoming Bitcoin hard fork called Segwit2x, originally set for November but due to low acceptance it was cancelled and now it's back again and set for December 28th.
By implementing the segwit2x hardfork, a new coin called B2X will be created to allow faster and cheaper transaction
The founders of B2X say this will happen by implementing the following:
-Increased block sizes of 4MB (compared to 1MB for BTC)
-A higher production rate of 2.5 minutes (compared to 10 minutes for BTC)
-Recalculation of complexity after each block
-Protection against repeated transactions
-Use of the X11 encryption algorithm
Besides that , the developers have also published the road map for the next 12 months which also includes some other big additions:
-Offline code support
-Lightning network support for instant transactions
-ZkSNARK support
-Ethereum Smart Contract Support
-Anonymous transactions
For now, these are the exchanges that have confirmed they will be supporting B2X:
Bitfinex
BitOasis
Bitrefill
Bitso
Bittrex
BTCC
CEX.io
Coinbase
Coinfloor
CoinNest
HitBTC
Luno
OKCoin
OKEx
Unocoin (However, delayed for up to four weeks)
ViaBTC
Xapo
Wallets supporting segwit2x
Trezor
Bread
Free Wallet
Bitcoin Unlimited
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