Wednesday after a coalition of developers and investors suspended a software upgrade planned for next Thursday that could have split the digital currency in two.
In an email on Wednesday, the lead developer of the team planning to carry out the upgrade said "Segwit2x" would be scrapped for now as it could "divide the community." The email by Mike Belshe, chief executive of blockchain security firm BitGo, was also signed by some of the biggest names in the bitcoin world.
SegWit2x is an agreement among high-profile figures in the bitcoin world aimed at upgrading the bitcoin network's capacity. It received significant support when it was announced in May but many bitcoin developers had withdrawn support for the upgrade over the last few months, analysts said.