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Blockchain & Bitcoin Conference Switzerland
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October2018

Another great fork planned for Bitcoin network. Proposed by supporter of SegWit2x Jeff Garzik

Another great fork planned for Bitcoin network. Proposed by supporter of SegWit2x Jeff Garzik

Jeff Garzik, one of the hottest supporters of SegWit2x and CEO at Bloq Inc., is launching his own hard fork. The project was called UnitedBitcoin, Trustnodes reports.

Garzik wants to increase the block size to 8 Mb, add the support of new smart contract features, SegWit, and Lightning Network. Besides, UnitedBitcoin (UBTC) will have replay protection.

The project’s white paper states that UBTC has a limit of 21,000,000 coins just like the Bitcoin. Block-time and halving time also remain unchanged.

The most provocative thing about the project is the plan to release coins stored at inaccessible addresses and transfer them to the UnitedBitcoin Foundation. 30% of obtained coins will be distributed to other networks such as Ethereum, Litecoin, Qtum, and Hshare, explains Garzik.

The white paper does not specify which addresses are defined as inactive. Garzik does not provide any commentaries on the issue. The community is wondering whether 1,000,000 Bitcoins owned by Satoshi Nakamoto may be included in the list of coins that Garzik wants to transfer to UnitedBitcoin Foundation.

Garzik says that 10 percent of bitcoin’s mining has switched to UnitedBitcoin, mentioning Exx.com and zb.com exchanges. According to the developer, Chinese miners want to see innovations in Bitcoin evolve faster than they do.

The exact launch date of UnitedBitcoin has not been announced yet.

 

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