Segwit (segregated witness), had been dormant since last November 2017. But there is a gift for the crypto community, ya welcome 2018. SegWit2X will stick again with hard fork on 28 December 2017.
In bitcoin, the higher the transactions made the blockchain get burdened, right? Because each block can only hold as much as 1MB, data transfer becomes too slow, because the volume of transactions far exceeds the block capacity. This is what makes confirmation longer because it takes multiple blocks to let the inputs be quickly inserted in blocks and stored in blockchain.
what is offered developers in SegWit2X?
To upgrade block size and increase Bitcoin scalability which is why developers turn on SegWit2X.
However, futures trading is still performed on a number of crypto exchanges at prices close to 0.01 BTC. In addition to establishing Segregate Witness, the development team has also established the following :
Block size size is increased up to 4MB
• Production level 2.5 minutes block
• More unique address formats
• Recalculate the complexity of each block
• Protection of recurring transactions
• Using the algorithm of X11 encryption.
SegWit2X was relaunched with a team of developers consisting of startup leaders and Bitcoin miners. Block No. 501451 plans to start production at the end of this December.