Bitcoin Could Split Once Again – August 17, 2017

We have a lift off! Bull market wasn’t gone for long. Bitcoin price is again inching closer to $4500 mark — an all time high. Not only did Bitcoin manage to survive the hard fork without any complications, it is setting new highs every other day.

Since reaching its most recent all time high of $4483 on August 15, prices hovered between $4,000–$4,200 for the past two days until starting to rise once again. The price reached $4477 on Wednesday and the ascend might continue till the end of this week. On some exchanges, the price reached a new high of $4,501 but only for a few seconds.

This Bitcoin price rise could be attributed to the USD weakness that came into play yesterday and the political fallout in Washington after Trump fumbled to respond to the Charlottesville events.

Top Stories from the Crypto World

1. Bitcoin could potentially split once again

The developers behind Segwit2x, a scaling solution to increase the block size to 2 MB, are planning to announce a firm date for another hard fork. Segwit2x was born out of New York Agreement where both the camps (Bitcoin Core and Bitcoin Unlimited) “supposedly” agreed to increase the block size to 2 MB.

The draft post titled “Bitcoin Upgrade at Block 494,784,” reads:

During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by bitcoin miners in a move to increase network capacity. At this point it is expected that more than 90% of the computational capacity that secures the bitcoin network will carry on mining on top of this large block.

If this proposal goes through as planned, SegWit2x could lead to another Bitcoin hard fork, potentially creating yet another version of Bitcoin.

Although it is still unclear whether it will be split of the Bitcoin blockchain because Bitcoin Core developers who remain adamant in opposition to SegWit2x, have already said that the upcoming Bitcoin Core client 0.15.0 (due to be released before November) will automatically disconnect nodes supporting the SegWit2x fork.

2. Trezor security glitches reveal your private keys

Trezor hardware wallet has emailed customers requesting they update their firmware to fix a legacy security issue. According to the company, the vulnerability affects only versions of its hardware “lower than 1.5.2.”

The email said, “It is important to note that this is not a remote execution attack. To exploit this issue, an attacker would need physical access to a disassembled TREZOR device with uncovered electronics. It is impossible to do this without destroying the plastic case.”

So your coins are only safe so long as the device is close to you.

3. IBM Partners up with Singapore Port Operator for Blockchain Supply Chain Trial

A major port operator in Singapore has inked a deal to work with IBM and a regional shipping firm to test a new blockchain-based supply chain network. The three firms will “work together to explore [proofs-of-concept] using technologies like blockchain,”

The goal of the trial is to automate the flow of documents between trading partners, providing transparency along the way.