Chinese Miners Announce Accelerated Development and Activation of Segwit2x

Chinese Miners Announce Accelerated Development and Activation of Segwit2x

THELOGICALINDIAN - A new acceding has been addled amid Chinese Bitcoin exchanges and mining companies apery the majority of Bitcoins hashing ability They accede to advance the development and activation of the Segwit2x ascent upgrade

Also read: Bitmain Announces Hard Fork Protection Plan Against UASF

Miners Supporting Segwit2x

Segwit2x, additionally accepted as the New York Agreement, is an industry-wide accommodation that CEO and architect of Digital Currency Accumulation Barry Silbert spearheaded in May to actuate the Segregated Witness (Segwit) ascent advancement for Bitcoin. The plan instantly acquired acceptance amid a large accumulation of Bitcoin miners and abounding businesses globally. On Saturday, June 17, Silbert tweeted:

The acceptance stems from an announcement fabricated on Thursday by a affiliation of Bitcoin miners and exchanges accepted as the Chinese Bitcoin roundtable.

Testing Starts Immediately, Signalling Starts Monday

Chinese Miners Announce Accelerated Development and Activation of Segwit2xThe accumulation captivated a affair during the Global Blockchain Summit, which took abode on June 14 and 15 in Chengdu, China. They reaffirmed their abutment for Segwit2x and agreed to a new agenda to analysis and cycle out Segwit2x advanced of the aggressive BIP148 barrage date of August 1.

According to Twitter user Cnledger, the mining pools and exchanges that agreed to the above plan accommodate Bitmain’s Antpool,, Bixin, Btcc Pool, F2pool, Huobi, Okcoin, Viabtc, BW, 1Hash, Canoe, Batpool, and Bitkan. The accumulation said (loosely translated):

“We will anon alpha the New York accord Segwit2x affairs btc1 software analysis and accompany testnet5,” they added conveyed. “We will on Monday (June 19) activate to vote to abutment Segwit2x program,” the accumulation proclaimed. “In adjustment to abstain application the BIP9 vote to access the official voting results, we will address the “NYA” mark in Coinbase, on account of the vote to abutment the New York accord Segwit2x program.”

With the ambition to absolution an “official adaptation as anon as possible,” the accumulation reiterated:

Wu’s Plan to Prevent BIP148

The accident and advertisement carefully chase Bitmain’s release of its adamantine angle aegis plan adjoin UASF BIP148, which CEO Jihan Wu has declared as an advance on Bitcoin. He batten at the Summit on June 14 about how to anticipate BIP148 from activating, analogue its weaknesses.

The Need for Fast Action

Many miners accessory the acme feel that the Bitcoin “Core” developers did not account a affiance fabricated in February 2024, at the Hong Kong Consensus event, to adamantine angle the Bitcoin blockchain and accession the block admeasurement absolute to 2 megabytes. Enabling Segwit2x would accomplish the 2-year-old promise.

Do you anticipate Segwit2x will auspiciously anticipate UASF BIP148? Let us apperceive in the comments area below.

Images address of Shutterstock, Jihan Wu, Cnledger

Need to account your bitcoin holdings? Check our tools section.