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HomeBitcoin NewsBlockchain Clarifies its Position on the Upcoming SegWit2x Hard Fork

Blockchain Clarifies its Position on the Upcoming SegWit2x Hard Fork


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It is always good to see Bitcoin companies clarify their position on SegWit2x.  This upcoming hard fork will introduce a lot of interesting changes for Bitcoin. The big question is whether or not it can become the main Bitcoin chain in the end. Blockchain has put together some information regarding their stance on this fork. No one will be surprised they will support the longest chain with the most mining power.

Companies have some tough decisions to make when it comes to SegWit2x. The viability of this fork is still in question as of right now. With the split occurring in less than two weeks, something will have to give. Moreover, all Bitcoin enterprises need to clarify their position. It is evident there is a lot of confusion regarding this fork as well. Majority support for this chain isn’t necessarily locked in place just yet. That will not change anytime soon, by the look of things.

Blockchain Will Support the Main Bitcoin Blockchain

With Blockchain making things clear, an interesting development has occurred. Although the decision isn’t anything unusual, it is good to see regardless. More specifically, Blockchain will support the chain with the majority support. Which chain that will be, remains to be determined. If the new chain becomes an altcoin, it may be supported in the end. Users will be able to exchange their B2X tokens if this were to happen.

However, the service will be suspended during the hard fork as well. For a brief period, no Bitcoin transactions or exchanges can occur. This will begin 24 hours prior to the fork. Depending on how things play out, the situation should be resolved the next day. That is unless the chains will compete for traction with varying degrees of success. It is unclear what the outcome will be at this point.

Users of the Blockchain wallet don’t have to undertake any action. It is always good to make a wallet backup if you haven’t already, though. Ethereum support during the hard fork will remain unaffected, which is only normal. It will be an interesting development in the Bitcoin world. For the second time this year, political differences will lead to a hard fork. The first one resulted in the Bitcoin Cash altcoin. Whether or not SegWit2x will share a similar fate, remains to be determined.

Header image courtesy of Shutterstock

JP Buntinx
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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