Home Cryptocurrency News Bitcoin SegWit2x Hard Fork Fails to Gain Traction as Network Remains at a Standstill

SegWit2x Hard Fork Fails to Gain Traction as Network Remains at a Standstill

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Things are not going according to plan for SegWit2x. In fact, the network is pretty much dead. It was dead on arrival yesterday too, but nothing has changed over 24 hours later. The current block height is still the same and no one seems interesting in mining it. A very troublesome development for supporters of this fork. That is, assuming there are any left at this point.

It was evident from day one SegWit2x would be a big joke. Even the original proposal was laughable at best. Despite some overwhelming miner support, companies were eager to back out. After  a while, the whole idea stopped making sense to everyone involved. Its main developed went ahead and called off the fork. Some people still decided to go ahead, though. This brings us to the situation we are in today. No one is mining this chain it seems and things aren’t progressing.

SegWit2x is Dead in the Water

How things progress from here, remains to be uncertain. In fact, there is no progressing whatsoever. The SegWit2x chain is literally stuck, as it has been for over a full day now. Moreover, some evidence has come to light regarding this failed fork. Someone purposefully froze the concept two blocks before the fork. Samson Mow was quick to point out how this was a carefully made decision. They also celebrated this with proper No2x hats as a way to commemorate this event.

In a way, no one should be surprised regarding this development. SegWit2x was never meant to happen in any official capacity. Jeff Garzik decided to go ahead with it regardless, which has now backfired. It is odd to see people put their reputation on the line in such a manner. Coding is all about trial and error, that much is certain. A failed attempt to “take over Bitcoin” is not something people will appreciate or forget about, though.

With all of the drama behind us, things are looking good for Bitcoin. One fork occurred and turned into an altcoin. The second fork never happened, which is a positive sign. Bitcoin Gold was not a factor either, as no one cares about this premined altcoin right now. Valuable lessons were learned by the cryptocurrency community as a whole. Bitcoin is and will be the only currency worthy of the name. Everything else is an altcoin, but that doesn’t make them less interesting to keep an eye on.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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