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In this case, we will follow the chain with the most accumulated difficulty and refer to that chain as bitcoin. If the minority chain has significant value, we will make that value available for customers to hold or exchange for a period of time, as we have done with Bitcoin Cash. If the minority chain is the one with 1MB blocks, we plan to call it BT1. If the minority chain has 2MB blocks, we plan to call it BT2.
Bitcoin Transactions Will Be Temporarily Suspended
The London-based company further explains users will be able to view their bitcoin holdings, but Blockchain will “temporarily suspend transactions for bitcoin.” Moreover, even though the platform’s buy and sell functionality will be suspended, the firm notes Blockchain wallet users can transact with ethereum during the fork. In addition to the Segwit2x contingency plan announcement, the company has created a “status page” called blockchain-status.com. A place where Blockchain wallet users can get regular updates concerning the pending fork alongside other announcements in the future.
What do you think about Blockchain’s decision to follow the most accumulated PoW? Let us know what you think in the comments below.