Bittrex, the third largest cryptocurrency exchange in the world by trading volume, has released an official statement regarding the SegWit2x hard fork scheduled to be executed on November 16.
Original Bitcoin Blockchain Will Continue as “BTC”
In the statement, Julian Yap of Bittrex emphasized that the original bitcoin blockchain will continue with the moniker “BTC” after the SegWit2x hard fork occurs later this month. Similar to other leading cryptocurrency trading platforms like Bitfinex, Bittrex intends to have the market decide which version of bitcoin will be known as the majority chain.
The statement read:
“In the event of a chain split, ‘BTC’ will remain the existing Bitcoin chain with 1 MB blocks until the industry and ecosystem demonstrates a clear chain preference for Bitcoin. Bittrex will take all reasonable steps to ensure that customer funds can be preserved on both chains. Bittrex will make all reasonable attempts to credit our users chain split tokens. We will not recover incorrectly made cross chain deposits under any circumstance due to the lack of replay protection.”