Coinbase supporting SegWit2x hard fork in Bitcoin

Coinbase supporting SegWit2x hard fork in Bitcoin

Unlike the last Bitcoin Fork that took place on August 1, 2017, this time Coinbase is upfront and supporting upcoming SegWit2x hard fork in November 2017,

According to a blog by Dan Romero, VP Coinbase,

"Coinbase is currently working on the engineering and security requirements for each bitcoin blockchain ."

As per the official tweet, "Customers with bitcoin balances stored on Coinbase at the time of the fork will have access to bitcoin on both blockchains. There is no action required from customers and bitcoin can be securely stored on Coinbase before, during, and after the fork."

After the fork, Coinbase will enable access when they determine each blockchain is secure and stable. This may happen within a few days after the fork, but it may take longer if additional risks emerge.

Coinbase is also continuing the work to enable Bitcoin Cash withdrawals for which the agreed post fork.

In the coming weeks — nearer to the date of the fork —  a more detailed plan will be provided for how Coinbase will approach naming the two Bitcoin blockchains.

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Bitcoin #Coinbase #Segwit2x #cryptocurrency #blockchain

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