Explainer: What Is SegWit2x and What Does It Mean for Bitcoin?

As two proposals for boosting bitcoin's transaction capacity approach key deadlines, one proposal, known as SegWit2x, has perhaps garnered the most attention.

The plan, first proposed in May, quickly won favor among many of bitcoin's startups and mining pools. Yet, it has also emerged as contentious in some quarters, owing to its specific goals and technical construction.

But, what's at the heart of the arguments for and against?

First, SegWit2x seeks to upgrade bitcoin in two ways:

It would enact the long-proposed code optimization Segregated Witness (SegWit), which alters how some data is stored on the network.
It would set a timeline for increasing the network's block size to 2MB, up from 1MB today, to be triggered about three months after the SegWit activation.
Understanding the ins and outs of the proposal from here can be challenging. While technical, the proposal is also political and philosophical (and some would argue, personal).

Still, the specifics of the debate revolve around basic facts about current network design and performance.

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