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The Bitcoin community has been in a fight over the past three years that in recent months escalated to an all-out war over the seemingly trivial question of how to allow more transactions through the network.
In May, two groups teamed up to force a compromise that would push past the stalemate but left out of a critical constituent -- Bitcoin's main developers -- in order to do so. Their solution, a so-called hard fork, had the potential to split the network and create two competing chains, and the possibility has fueled acrimony in the Bitcoin world for months.
With the hard fork looming just a week and a day away, that coalition called off its plans Wednesday in a brief email sent by the lead developer on the team planning to hard fork, nicknamed SegWit2x for the two solutions it brought together in compromise (SegWit and a hard fork to a 2MB block):
"Our goal has always been a smooth upgrade for Bitcoin. Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x. ... We are suspending our plans for the upcoming 2MB upgrade."