SegWit2x Announces its Agenda for Next Three Months

Segregated Witness has been locked-in on 8 August and SegWit2x later declared its plan for next 3 months. While the businesses and miners agreed upon the New York Agreement. The team of developers decided to move forward in the process to increase the block size 2MB.

90 percent of miners supported SegWit protocol for activation and now it’s been more than 24-hours the Segregated Witness has been locked-in on the Bitcoin network. Jean-Pierre Rupp the member of the Segwit2x working group revealed the plans for 2MB hard fork naming it the “Bitcoin Upgrade at Block 494,784,” He also stated:

“During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by Bitcoin miners in a move to increase network capacity. At this point, it is expected that more than 90% of the computational capacity that secures the Bitcoin network will carry on mining on top of this large block.” – bitcoin.com

The increase in block size to 2MB was first discussed at the Hong Kong Roundtable Agreement’, and later got fixed at the ‘New York Agreement’ (NYA) in the year 2017, Consensus conference. The common point in both the agreement was to implement Segwit first and later increase block size 1MB to 2MB. Now when Segwit is activated, the ecosystem should update Segwit-compatible software for availing the benefits from the protocol.

“The November 2017 upgrade to 2MB blocks is a hard-fork, but necessary changes are trivial to perform,” explains the Segwit2x working group’s announcement. “Some SPV clients are expected to work without any change at all. Most clients will need to tweak only two constants to remain compatible with the new larger blocks.”