New SegWit2x Code Released: Understanding The Controversial Bitcoin Scaling Project SegWit2x New Code

Hello Friends,

If you keep up with what is trending in the "Crypto World", you must have come across the "Bitcoin Scaling Project" or "SegWit2x Code". The whole stuff sounds kind of technical... but I will try to give you an idea about it...

There i s no doubt that bitcoin is great and it will continue being great... But you all will agree with me that recently it has become a bit frustrating especially when it comes transaction charges and delays in confirmation which is annoying...! So the essence of the whole "Bitcoin Scaling Project" is to address these issues and many more of such issues.....

Ok for the more technical Ones, here is an article I stumbled upon and I Think It will help you guys understand these important issues more.

"The controversial scaling proposal, SegWit2x, is progressing with their plans, following their timeline. Jeff Garzik, Bloq co-founder and SegWit2x lead developer, said in an email that the new code is set to release on June 30, 2017.

Developers first introduced the SegWit2x in 2015, which has been one of the most controversial scaling proposals. Many Bitcoin network's enterprises and miners commended the proposal, seeing it as a pragmatic solution to the network's issues in transaction capacity. Of course, there are still those who derided it as a deal that misunderstands the nature of the cryptocurrency development and its intended design.

Despite some opposition, the Bitcoin scaling proposal emerged as unique, bringing together some of the largest contingent companies and mining pools supporting it.
Expectations on the new version

After two weeks of Alpha release testing, Garzik has confirmed the release of SegWit2x new code. This new version is expected to address issues and comments on the previous one and to mark a new phase for the said proposal.

Given that the proposal is supported by a large number of miners, the code could quickly acquire the necessary backing from the network to activate the upgrade.

Later on, if the project furthers as planned, the Bitcoin's long-awaited scaling optimization availability before August is possible. For now, this improvement or change in the network remains a matter of controversy and critique as enterprises and Bitcoin miners wait for it.
Alpha testing

The developers are not generous to the public when it comes to updating them about the testing process. According to some people who are involved in the project, they spent two weeks for testing, using a new testnet ("testnet5") and a faucet that spits out fake coins to test the system.

Meanwhile, SegWit2x GitHub site showed that the developers are indeed testing the code. Purse CTO Christopher Jeffrey even identified and fixed bugs during the alpha testing change while others shared inputs and ideas.

Large companies currently supporting SegWit2 include Abra, Bitfury, Blockchain, BTCC, OpenBazaar, Purse and Xapo have been publicly supporting the development and testing. However, it is still unknown to the public who's working on what.
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Hope this helps... Thanks!!!