This week, two more Bitcoin-based companies announced their stance on the upcoming 2MB hard bifurcation. The bifurcation will take place on Saturday, November 18, 2017, by the Segwit2x (BTC1) working group. The two companies Xapo and Surbtc explained to their clients how they would deal with weeks of consensus changes.
Xapo will follow the hardest-to-accumulate chain that
has been waiting for the official announcement of companies that signed the New York Consensus (NYA) agreed to increase the size of the block this summer because Core developers do not want to change. Last week, Coinbase and Bitfinex Company detail how to handle bifurcation. Now, two other start-up companies centered on Bitcoin, both Xapo and Surbtc, have made their bifurcation plans open.
On October 9th, Bitcoan financial services provider Xapo told their clients how they would handle the bifurcation. Xapo explained that when the miner handled block number 494784, a block of 1-2MB would be generated. The company wants its customers to know that Xapo users do not need to do anything like when a cash dividend occurs. In terms of the policy of the start-up company, it is necessary to define the "real bit".
"Xapo's policy on bifurcation is that when there is a fork, we always follow the chain that has accumulated the most difficult, and we offer a few links to our customers so that they can be sold or withdrawn at Xapo," the company's recent statement Explained.
"We will call this chain with the maximum accumulation of Bitcoin or BTC." If a few chains are 1MB blocks we will call it BC1; if a few chains are 2MB blocks, we will call it BC2. "
Of course, The reason why Xapo's statement became a controversial topic is because they will choose how "real bit". The start-up company also added that once a few chains were considered safe, they could withdraw money.
The company concludes: "If you believe Xapo with your Bitcoin and access to the security of your few chain coins, then you do not need to take any action."
If the bifurcation is controversial, the Latin American exchange Surbtc will put two assets as BTC and B2X
Chilean bitcovers trading platform Surbtc on October 10 announced a hard bifurcation position against Segwit2x. Like Xapo, the exchange Surbtc is also a NYA signer and explains that they are satisfied with this summer's Segwit activation and want to "see a small increment (2mb) in the size of a block." In any case, the company is fully convinced of the expertise of Bitcoin Core Software Development Group.
Surbtc executive Agustin Feuerhake explained: "While we will be happy to set a modest block for adapting to growing demand, we believe that Bitcoin needs (at least most) of the bitcoan Core Development Group's support to be responsible for execution We have not seen this support yet, and we do not like the technical considerations and open source collaboration we currently see in the BTC1 code repository. "
" All of these are saying that if a controversial hard bifurcation does occur, Surbtc will eventually be able to list these two assets, but it will certainly allow the user to withdraw the two assets at the same time. For practical reasons, we will continue to list the BTC and we will merge B2X (or the name in the industry).
So far, only a handful of companies based on Bitcoin have made their plans. However, this time the start-up companies began to announce these plans ahead of the previous, because they gained some experience from the previous bifurcation of August 1. News.bitcoin.com will ensure that our readers are informing us at every step of the upcoming "hard bifurcation" of November.
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