Six of the top 10 cryptographic exchanges with bitcoin cash trade volume (BCH) have announced plans to support the upcoming cryptocurrency hard fork on November 15th.
The Bitcoin liquidity roadmap includes updates to its base code every six months, but disagreement with some changes to the network has raised the specter that two distinct branches of cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are put forward by competing teams. While the result is not clear, a scenario would see two separate cryptocurrencies deriving from the fork.
Since users will automatically receive an equal amount of the new currency for the amount held in BCH, it is important that their exchange is prepared for the event and will subsequently assign the new tokens.
A number of exchanges have now clarified their positions in the event that a division occurs, with OKEx, Binance, Bitforex and Huobi all claiming that they "will support the fork". Poloniex, a grade 51 exchange for BCH, has stated more explicitly that it is "ready to support the trading markets for both tokens".
Coinbase was more reserved, saying he would support the current roadmap, but added:
"In the unlikely event that multiple chains persist after the fork, Coinbase will ensure that customers have access to their funds on each chain."
In preparation for the event, most trades said they will suspend cash withdrawals and bitcoin deposits shortly before the fork to ensure that customer funds are not at risk due to the instability of post-network networks. fork. Users should be careful not to deposit BCH during this period in such cases.
And it is not just the exchanges that have to make decisions about the potential creation of a new currency. The manufacturer of hardware portfolios based in France Ledger has stated that, if the fork produces blockchains in cash with separate bitcoins, "in the end, one of these would be the dominant chain, which we will evaluate to support again".
It is worth noting that Bitmex recently launched a bitcoin and bitcoin cash monitor for cash. The hard fork BCH is set to occur on November 15th at 5:00 pm UTC.
Here is the current status of the first 12 BCH markets on CoinMarketCap for the hard fork at the time of printing:
Image of forks through Shutterstock