SegWit2x is back

It seems like SegWit2x is keeping its chin up. The controversial comeback is planned to happen on December 28.

In summer, SegWitx2 was seen as an abnormal compromise. In August, the situation had two sides. On one hand, the backers of large scale blocks had to express their agreement regarding the activation of Segregated Witness. On the other hand, it was possible that after the Segregated implementation, SegWit fraction would not amplify the size of the blocks.

SegWit2x should’ve forked at the half of last month but the plans have changed. The leader of the project says that the hard fork will happen at block 501451. The size of the blocks will be at 4 MB, the generating time of the blocks will be at 2.5 minutes and the ecryption algorithm used is X11.

The work on this project will continue and the team is intending to input some enhancements like offline codes, online support for Lightning transactions, smart contracts Ethereum, anonymity regarding transactions. The CEO of the project, Jaap Terlouw said that the slow transactions with Bitcoin have exceeded any limits. In the past month, there were many complaints regarding the rapidity of the transactions with Bitcoin. It may be the digital gold, but it is impossible to use it as a payment method.

The developers are not going to change the protocol completely but they want to enhance some basic features of it. The ones behind this project have learnt from the previous failure and they stopped bragging that the freshly resulted coin will be better than Bitcoin.