The project touted as the new SegWit2x was scheduled for launch when Bitcoin block number 501451 was mined. This occurred at about 1800 UTC on December 28th and the revived hard fork went live.

Many concerns have been voiced, however, as to the project\'s validity, not least the lack of information about the development team, and a mysterious undertaking on their website to issue all BTC holders after the fork with \"a proportional number of Satoshi Nakamoto`s Bitcoins.\"

The original SegWit2x concept arose from an agreement between over 50 of the foremost Bitcoin companies on how to scale up the cryptocurrency to reach a wider audience and to deal with clogging of the original 1MB block system.

Controversy existed between those who wanted to retain small blocks and those who wanted to scale up to big blocks of 2MB. The original SegWit soft fork took place in August 2017, separating signature data so that its impact on block size would be reduced. The agreement for a hard fork to expand block size to 2MB was never implemented, as its proposed launch on November 16th encountered strong negative criticism.

This latest incarnation claims to be a \"revival\" by a different development group, but the project website is apparently demonstrating worrying inconsistencies, including a suspiciously large pre-mine allocation to the project developers themselves.