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Bitcoin Classic Announces Standby Shutdown of Segwit2x Suspension

Bitcoin scaling solution proposed Bitcoin Classic announced that it was going to close, claiming that bitcoin money now reaches what the project wanted to do.

In a blog post, Tom Zander, publication director for Bitcoin Classic, said that, considering the suspension of the Segwit2x rigid fork, the problem of scaling bitcoin will continue and the bitcoin feature will continue. will probably exceed that of bitcoin.

Zander wrote:

"At most 6 months, I'm sure we'll just drop the 'Cash' and call it 'Bitcoin'."

Launched in 2016, the stated goal of Bitcoin Classic was to increase Bitcoin's transaction capacity by increasing the block size from 1 MB to 2 MB, but it was unsuccessful to be imposed as a bitcoin alternative.

Now, thanks to the bitcoin money, which allows for adjustable block sizes and a default value of 8 MB, "Classic has fulfilled its promise," writes the article.

Earlier this week, the team behind the controversial proposal Segwit2x said it would not proceed due to a lack of consensus surrounding the fork is hard.

As a result of this decision, Zander wrote that those behind the so-called "inherited chain" (Zander's term for bitcoin blockchain) "prefer to go down with their ship" rather than update the software. to track the rise number of transactions.

As such, he said, Classic will cease operations "in days or weeks", urging all miners and nodes currently supporting the network to migrate immediately to an alternative.

Earlier this year, bitcoin activated a scaling solution called SegWit, which increases the amount of transactions without increasing the size of the block, and paves the way for future scale-up solutions off the line. However, the impact this has had on the network has so far been minimal, which has led some to criticize the software.

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Although this was attributed to a lack of adoption in the industry, Zander states that bitcoin's failure to increase the block size limit "simply confirms the viability of the chain cash flow ". In this perspective, Zander joins the others in predicting that the Bitcoin money will flourish following the cancellation of Segwit2x. He concluded that regarding the future of bitcoin, "the market will decide."

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