Xapo, an important virtual portfolio, is pronounced regarding the bifurcation in the network Bitcoin that will take place in November, SegWit2x. Federico Murrone, co-founder of Xapo commented on the modus operandi that would be carried out, and that would be identical to the one made with the previous bifurcation, so that, as Murrone comments, they will follow the policy of Xapo with respect to the forks and when there is a fork they always follow the chain with the greatest difficulty accumulated and make the minority chain available for customers to sell or withdraw once the smaller chain is completely safe to make these withdrawals or sales.
As soon as it is safe to send the minority chain to the exchanges, we will make it available to our customers so they can easily sell or withdraw from Xapo.
They also pointed out that the chain that results from greater difficulty will be identified as Bitcoin or BTC, while the other chain that is generated from the bifurcation next November 18 will identify it depending on the size of the blocks of the same. If the minority chain is the one with blocks of 1MB it will be called BC1 and if the minority chain is the one with 2MB blocks it will be called BC2.
They clarify that users should not do anything about it and that the new criptomoneda will reach their portfolios as happened at the last fork but they make it clear that if users want to have access to the Bitcoins during the fork process should remove it from the platform, Murrone explains it this way:
We will do everything possible to continue working without interruptions during the fork, as we could during the time of Bitcoin Cash. But if we consider that doing so compromises the safety of our customers’ bitcoins in any way, we may decide to stop operations for a few days or up to a week, at our discretion. If you want to guarantee access to your bitcoins at any time during the fork, you must remove your Xapo bitcoins now.
If you want to trust in Xapo the security of your bitcoins and access your cryptocurrencies of minority chains there is no necessary action on your part, we will take care of everything for you.
SegWit2x is an update on the Bitcoin network that is planned for May, where it was decided to activate the Segregated Witness and increase the block size to 2 MB. However, many of the participants in that agreement have backed away from seeing that Bitcoin Core has nothing to do with the project, which is causing this new bifurcation to lose strength consistently.
Bitcoin users are still waiting for commitments from other major wallet providers. Coinbase has remained silent on the issue just as Xapo has done on Bitcoin Gold, with only former engineer Charlie Lee offering information on what will likely happen when the fork occurs on November 18.