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The proposed SegWit2X upgrade of the Bitcoin payment system has been postponed

Nov, 08, 2023 Hi-network.com
The proposed SegWit2X upgrade of the Bitcoin payment system has been postponed. A decision has finally been made over the much anticipated question on the scaling of the Bitcoin system. A group of the biggest Bitcoin companies (major mining pools and online exchanges) announced that they are postponing a fork (change in software) which would increase the block size to 2 megabytes (MB). Even though the SegWit update in August increased the information related to the block size to 4MB, SegWit2X was a planned fork which aimed to change the 1MB limitation from Satoshi's initial Bitcoin proposal. This fork however did not gain widespread support needed among Bitcoin users, and due to a lack of consensus, it has been cancelled.

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