2x or No 2x, That Was the Question

SegWit2x was supposed to be a SegWit derivative that doubled the amount of data a block could hold from 1MB to 2MB. The SegWit2x plan came into being at the 2017 Consensus conference in New York. At this event, 58 Bitcoin-related companies signed an agreement proposed by the Digital Currency Group – the company behind $GBTC. This agreement proposed that SegWit be activated as soon as possible, and that it be followed up by a block size increase in mid-November. The agreement came to be known as the New York Agreement (NYA).

The Cointelegraph was able to collect data on 57 of the original 58 companies that signed the NYA. Sixteen companies were wallet providers,15 were exchanges, nine were miners and 17 businesses can be classified as “other.” In this case, “other” means that they are businesses that provide goods or services in the cryptocurrency space.

As time passed, a number of companies began to withdraw from the NYA or decided to focus their resources on the Bitcoin Cash chain instead of Bitcoin and the proposed SegWit2x upgrade. As of early November, 12 companies had withdrawn from the NYA, eight had focused their resources on the Bitcoin Cash chain, and 38 of the original 58 companies still supported SegWit2x…

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