Wednesday, 19 July 2017

What is SegWit2x in Bitcoin?

SegWit2x (Segregated Witness) is a scaling proposal that increases the block size of the bitcoin. This process also increases the bitcoin transaction. SegWit is not only the proposal there is few more scaling proposal like BIP 148 and Bitcoin Unlimited.

The bitcoin exchanges in India are getting prepared for the change in blockchain and technology. There are the chance of the UASF the soft fork activation on 1st August. This activation may split the chain into two.

The effect of chain split can also be shown on the bitcoin price value. The best bitcoin rate may be dissolved. The precaution from the activation is yet to be seen but the best bitcoin exchanges are ready to adopt the new changes to the blockchain. Like bitxoxo, zebpay and unocoin are also spreading awareness to its customers.

The safety measure to buy and sell bitcoin in India are:

  • Avoid making a transaction of Bitcoin. Buy bitcoin in India is also not safe due to scaling on 1 August.
  • Safe private key of your Bitcoin
  • Distribute your coins.

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