Segwit2x cancellation—a boon for Bitcoin Cash

After separating from the original Bitcoin (BTC), Bitcoin Cash established itself as the former’s counterpart in the new digital currency market. With its launch, it had taken abuzz in the financial world with a value of 130%, whereas Bitcoin was struggling with 15% less the value. This new blockchain technology emerged as the second largest cryptocurrency in the e-commerce belt with a value proposition of $25 billion.

However, investors, network operators, and miners were more in attracted towards Bitcoin Cash than Bitcoin 2x (named after the proposed SegWit2X plan). Both of them are a result of a hard fork and classified under Bitcoin. Although, Bitcoin cash was successful in launching itself as the second largest cryptocurrency, at the same time Segwit2X failed to keep up with the expectations of an upgraded level of the transaction.

SegWit2X was a result of a long-term planning which was designed with modern solutions to yield better transactions. But its sudden cancellation created an uproar in the economic market. The cryptocurrency insiders realized that a forced split to establish 2X network could be a major setback for Bitcoin.  Even after having a value proposition as high as four times that of Bitcoin Cash, it is the latter that has overshadowed Bitcoin and is estimated to become a leading cryptocurrency blockchain within a short span.