What’s Next For Bitcoin Now That Split Is Averted?
With the bitcoin development community embracing a software upgrade known as SegWit2x that aims to increase the network’s transaction capacity, a split of the cryptocurrency appears to be avoided. As proponents of the change celebrate, here’s what some have to say about what may be next.
Adam White, head of cryptocurrency exchange GDAX
“We’re going to see greater utility of the network. Now people can use bitcoin as a way to transit value more easily, more quickly, more cheaply. And that tends to attract in new users to the network.”
“Going forward, there will probably be open-blockchains like bitcoin, which tends to move more slowly or conservatively, but there will be other blockchains like ethereum that may move more quickly and introduce a larger surface area for developers to build on top of. I think both of those things complement each other, not compete with each other.”
Matthew Werner, head of payments engineering at Coinbase
“It’s a great step for bitcoin. There were a lot of question marks, obviously this has been in contention for quite some time now, but reaching consensus for how to scale bitcoin further is a huge step, clearly. SegWit activating and allowing things like Lightning Network is going to be huge for allowing more activity with existing user base, and down the line once we start to expand the blocksize, we’ll be able to expand the number of users on the network.”