Wayniloans Pulls SegWit2x Support due to Security Concerns

It is evident a lot of companies are removing support for SegWit2x. Various mining pools have already done so over the past few weeks. It now appears Wayniloans is pulling the plug as well. Things are not looking great for SegWit2x right now. Although there is still enough support to make it work, it remains to be seen how things play out. If more support is pulled, this hard fork may not materialize come November 2017.

It is evident the SegWit2x proposal will not succeed without a hitch. Most companies supporting it only did so to see Segregated Witness activate on the Bitcoin network. One by one, they are pulling their support as we speak. After F2pool halted their signaling for the New York Agreement, a few other entities did so as well. The latest service provider to do so is Wayniloans.

SegWit2x Keeps Losing Support

Although this Bitcoin P2P lending platform is not a big player, their voice needs to be heard. The company announced they are pulling SegWit2x support through an email. Given the contentious nature of this scaling purposes, the decision is not surprising whatsoever. Moreover, the Latin American Bitcoin community likes Bitcoin Core first and foremost. Supporting this proposal would directly go against the wishes of the people in this regard.

Moreover, the Wayniloans team is concerned over the lack of replay protection. More specifically, there is a solution, but it is not mandatory for all users. This poses a significant security threat to SegWit2x as a whole. In the current form, attacks can still broadcast transactions on both blockchains without repercussions. That in itself is a big risk for both Bitcoin and SegWit2x supporters alike.

It will be interesting to see how things will evolve where this solution is concerned. Wayniloans is only the latest company following Bitwala and F2Pool. It is not unlikely we will see more companies and service providers go down a similar path. Whether or not SegWit2x will become an issue come November, remains to be seen. Without sufficient support, this solution will not go anywhere anytime soon.  

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