Lack of Crypto Insurance Hinders Mainstream Adoption
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Lack of Crypto Insurance Hinders Mainstream Adoption
A new report from Reuters published December 19, 2018, determined that the inability for Asian cryptocurrency exchanges and traders to insure themselves against cybercrimes like theft and hacking is also presenting fund managers with deep pockets to invest into the market. Insurance Is a Necessary Prerequisite Against Cybercrimes Since investors with more capital are usually seen in more regulated environments,…. The post by Nigel Dollentas appeared first on , bitcoin, Blockchain & Cryptocurrency News
CryptoNinjas Korea’s 1st blockchain BOScoin, launches ARIST, a research institute BOScoin, the first blockchain project from the Republic of Korea, is launching the ARIST, a research institute that will engineer and verify platform reliability, scalability, […]
Ethereum Price Analysis – Ether Selloff to Pause By Dmitriy Gurkovskiy, Chief Analyst at RoboForex On March 5, Ethereum stopped going down, and is currently trading at $126.82. The downtrend reached 61.80% Fibo, while now […]
There will almost certainly be no bitcoin hard fork next week: the main organizers behind the SegWit2x project have “suspended” their efforts.
In an to the SegWit2x mailing list, one of the main organizers behind the project, CEO Mike Belshe, explained that the proposed hard fork has not been able to gain sufficient consensus to proceed:
“Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time.”
The was forged between a group of bitcoin companies in May of this year. An initiative by CEO Barry Silbert, the project — later dubbed “SegWit2x” — was to combine activation of the with a hard fork to double bitcoin’s block weight limit. With Segregated Witness on the bitcoin network this past summer, arguably by the SegWit2x project, the hard fork was scheduled to take place next week.
However, the hard fork part of the New York Agreement was always controversial for. As a result, a growing number of signatories dropped out of the agreement over the past weeks and months, while,,, and all indicated limited support for the effort. And as the hard fork date drew closer, it become increasingly clear that SegWit2x would in fact spawn a rather than constitute an upgrade of the bitcoin protocol.
And this was never the plan, Belshe wrote:
“Continuing on the current path could divide the community and be a setback to bitcoin’s growth. This was never the goal of Segwit2x.”
Belshe’s email was also signed on behalf of CEO Wences Casares, CEO Jihan Wu, CEO Jeff Garzik, CEO Peter Smith and CEO Erik Voorhees. In a separate published just before Belshe’s email, CEO Stephen Pair also called for cancelation of the hard fork.
While the New York Agreement was signed by even more companies (and some individuals), and anyone can still deploy the hard fork, it is unlikely that anyone will proceed with the hard fork in any meaningful way.
Belshe does, however, note that a hard fork to increase bitcoin’s block weight limit might be needed in the future, writing:
“As fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase.”
