It can be difficult for crypto exchanges to keep track of all the hard forks happening in the cryptocurrency world. At this point, it appears that most crypto exchanges will not support the upcoming MoneroV fork. This came as a big surprise to some users, and some consider it another form of censorship.
Monero users are very aware of the existence of a huge number of forks of this particular currency. While there are very few coins that offer both privacy and anonymity features on an ongoing basis, it is clear that Monero is the leader in this area. Therefore, many coins are trying to use a well-known name, including the upcoming hard fork MoneroV.
Although it is not yet clear how MoneroV will develop in the future, the exchange Poloniex has already clearly expressed its position on this matter. In particular, the trading platform will not support MoneroV.
As a reminder, a hard fork will occur when the Monero blockchain reaches the number of blocks 1564965. This event is expected on Monday if everything goes according to plan. An unfortunate side effect of this fork will be that Poloniex will also suspend all Monero transactions on its platform for a few hours.
This means that users who want to trade Monero on Poloniex will not be able to do so immediately. Instead, funds will be credited as soon as wallets are available again, and there may be delays in the process. According to the official statement from Poloniex, all funds must be transferred within a few days, which means that XMR trading will be disrupted for more than 4-6 hours, as is usually the case when a hard fork occurs.
Users wishing to receive MoneroV must withdraw XMR to a compatible wallet or exchange. It will be interesting to see how many platforms will support this hard fork, which no one asked for. What cannot be taken away from the cryptocurrency sphere is the number of hard forks. In fact, it is possible that this trend will continue for a long time and will particularly affect popular digital currencies. First it happened with Bitcoin, now it’s Monero’s turn.
It is vital for crypto exchanges to keep track of all changes and forks. However, while there are decent forks, it is also clear that many of them are useless garbage. What kind of fork MoneroV will turn out to be is very difficult to predict at the moment.
According to https://themerkle.com
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