Satoshi labs and ledger wallet are the two famous companies that produces hardware wallet and they have set out a plan of contingency for the SegWit2x hard fork that is supposed to happen in 9 days. The two firms mentioned that they will provide help for tokens that are tethered and for chains if there occurs a split between them and they will support in developing a tool for the procedures needed for splitting.
Satoshi labs are likely to support the two chains related to the model of Trezor:
The hard fork discussions are building up in accordance with virtual currency based enterprises that have made the contingency plan with an approach by the block chain 494784. The two firms- Satoshi lab and Ledger wallet mentioned about the handling of the fork uprising on sixth November this year. A 2 MB increase in the size of the block is supposed to be increased as explained by the firm- Satoshi Lab. The firm also mentioned that the split is likely to happen since the fork is known to be contentious. Moreover, Satoshi lab mentioned that there is a chance that Trezor wallets might provide assistance for SeegWit2x which is also known as B2X and the investors of Ledger Wallet might get an equal ratio of the total distribution during the occarance of split.
Satoshi labs explained that if a person had already own Bitcoins in trezor, an equal amount will be provided even after fork came into existence. They said that the keys will be owned by the investors itself if they had invested in Trezor hence all the power over the coins that are forked will be in control with themselves.
Since Segwit does not have any system for protecting the transactions, the investors need to be alert during the transactions are handled. A set of splitting regulations and equipments will be provided to the investors who are keen in buying B2X with a platform of beta version by Satoshi labs.
The company noted that the format of B2X contains similar address as that of Bitcoin. But Trezor is likely to make changes in their address using a unique derivation formula.
He also recommended to the users to confirm that they are sending the correct Bitcoins to the right Blockchain during transactions.
Ledger Wallet to assist the two chains:
The two chains and their tokens will be provided assistance by the French based firm- Ledger Wallet when the split occurs. They announced that the investors should remain alert during transactions while the fork is happening and they are recommended to stop all transactions until the find a solution for it.
During a discussion among the Ledgers fork, they gave details regarding the SegWit2X which were not formulated for any split to happen and that there might be ups and downs when they trade on the two chains and Bitcoins that are split.
They said that for the purpose of clarifying they have given the name for Bitcoins as Bitcoin 1x and for Segwit 2x, they will be called as Bitcoin 2x. This is mainly done because the names of these will be altered among the actors.
The company stated that the users will get an alert while they are under any threat of being attacked while the transaction happens. The users will be provided with two options to choose from. They can either split Bitcoins or they can pick an option to bypass the sign. Moreover, the company might provide for a procedure of splitting tokens for the two custodian right after the 494748 chain.
The no- custodian procedure relies on Chainsplit innovation which is a software developed program and their job is to order internet interface for the purpose of using it with the Blue, Nano, Nano S etc cannot be automated and advised for solely advanced investors as detailed the firm’s plans. Blue and NanoS will include an application of Ledger proving a process of half custodian which will be automated completely. This feature might not be involved in a Ledger Nano.
It has been made possible since the applications that are secure allow to be shared according to the distribution of architecture without indicating the keys. The inputs provided are contaminated to the investors along with the application and a written document; these will be returned back to the firm. The application which divides handles the entire application with high security system.
Unannounced plans of the hardware wallet manufacturers:
The community of Bitcoins is happy that the two hardware manufactures of wallet is going to help the two chains. No opinions were shared by any other hardware manufacturers of wallet like digital Bitbox, Shapeshift keepkey and others. A representative mentioned that the firm might not have a post in ideologically supporting any kind of fork. Anyhow, the assets that were backed by the fork is to be mentioned by the company contracts.