[Update: Cancelled] TREZOR Statement on SegWit2X Hard Fork
Update November 8th: As the SegWit2X fork has been cancelled, we are also suspending our preparations. The statement regarding S2X released in this article is no longer valid.
Thank you!
SegWit2X is a proposed fork of Bitcoin, to upgrade the blocksize to 2MB according to the New York Agreement. The fork is scheduled to occur at block height 494784 (around November 16). As this is a contentious hard fork, Bitcoin will most likely split in two after this block, with Bitcoin (BTC) and SegWit2X (B2X) emerging.
If you have held BTC on your TREZOR before the fork, you will own the same amount of BTC and B2X after the fork.
With TREZOR, you own your private keys (in the form of the seed), therefore you have control over all of your coins, including forked coins.
TREZOR device supports both BTC and B2X.
The TREZOR device supports both BTC and B2X. For both coins, new and legacy addresses will be supported.
However, as SegWit2X will not implement replay protection, there are certain steps you need to take before you can use both coins safely. We will prepare a guide for you to follow, should you wish to split your coins and use both coins.
Disambiguation: The fork ahead.
If you only care about BTC and don’t need B2X, no action is required. Use your bitcoin as you would normally.
If you only care about B2X and don’t need BTC, no action is required. Use your B2X as you would use other coins. See the end of the splitting guide.
If you want both BTC and B2X, please follow the guide below to split the coins correctly. Note that this process is manual and is without any warranties, due to the lack of replay protection.
Important note: This is not the same process as during Bitcoin Cash fork
Bitcoin Cash implemented replay protection during their hard fork, meaning the coin splitting process was easier to implement. Please take all precautions, and pay close attention to the guide.
Guide to manual B2X coin-splitting
To safely split your coins, we will first wait for the chains to diverge significantly. Then, we will utilize locktime to lock the spending of your coins (UTXOs) before a certain block. Once the transaction on the longer chain is confirmed, we will send a transaction with identical coins (UTXOs) on the shorter chain, without the locktime.
Update: Due to the cancellation of SegWit2X, the guide will not be released.
Common questions
Will TREZOR Wallet (web-interface) support B2X?
B2X will be listed in TREZOR Beta Wallet as a separate wallet. However, you need to split your coins, according to our guide, before your coins are available there.
Do I need to have my bitcoins on a specific account pre-fork?
You can hold your bitcoins on either new (SegWit) or legacy accounts.
Why is the lack of replay protection dangerous?
Without replay protection, if you spend coins on one chain, the transaction could be “replayed” on the other chain, since the transaction is valid on both BTC and B2X, causing you to spend both coins. Therefore, you will first have to split the coins into different addresses.
Will B2X have different addresses?
B2X will use the same address format as Bitcoin. However, TREZOR will generate B2X addresses with a different derivation path. When transacting, please make sure you are sending the right coins to the correct chain.
The B2X BIP44 derivation path for addresses is:
m/44'/157'/About Us
TREZOR model T is the next-generation hardware wallet, designed with experiences of the original TREZOR in mind, combined with a modern and intuitive interface for improved user experience and security. It features a touchscreen, faster processor, and advanced coin support, as well as all the features of the TREZOR One.
TREZOR One is the most trusted and ubiquitous hardware wallet in the world. It offers an unmatched security for cryptocurrencies, password management, Second Factor, while maintaining an absolute ease-of-use, whether you are a security expert or a brand new user.
SatoshiLabs is the innovator behind some of the most pivotal and influential projects with Bitcoin and cryptocurrencies, mainly TREZOR, the world’s first cryptocurrency hardware wallet, or CoinMap.org, the primary resource for bitcoin-accepting venues.
Links
Pre-order TREZOR T: preorder.trezor.io
TREZOR Wallet: wallet.trezor.io
TREZOR: trezor.io
TREZOR Documentation: doc.satoshilabs.com
TREZOR Shop: shop.trezor.io
