The Bitcoin Cash community is expecting a hard fork next week. Until recently, only Bitasiaex, Coinex and Ledger Wallet outlined their plans in the event of a fork, but now many companies are publishing statements accordingly.
On November 2, the Coinbase and Binance platforms revealed information about how they plan to handle the fork.
Binance stated its desire to “support the upcoming Bitcoin Cash hard fork” this morning in its blog.
We confirm that Binance will support the upcoming Bitcoin Cash hard fork. We will take a snapshot of all BCH accounts at 2018/11/15 16:40:00 (UTC). Bitcoin Cash deposits and withdrawals will be suspended starting 2018/11/15 15:00:00 (UTC).
Twelve hours after the Binance statement was published, representatives of Coinbase made a similar statement. It stated that “the exchange is ready to support the project, the roadmap of which is published on Bitcoincash.org,” and also attached a link to the Github repository of the Bitcoin ABC team. In addition, company employees assured their clients that their funds were safe.
On November 5, the exchanger Poloniex announced its plans to support the fork on November 15, as well as suspend transactions. According to the trading platform, before the fork begins, the exchanger will take a snapshot of all BCH balances and stop all BCH transactions during the update. “Once the network has stabilized, we will make an announcement and restore access to deposits and withdrawals,” the company’s website states.
On the same day, cryptocurrency exchange Kucoin also made a statement that it would support the Bitcoin ABC hard fork. Likewise, before the fork begins, Kucoin staff will take snapshots of BCH accounts and suspend transactions.
BCH deposits and withdrawals will be suspended on November 15th starting at 23:00:00 (UTC+8).
In addition, some wallet manufacturers have also made similar announcements. For example, hardware wallet company Trezor recently tweeted that its server is fully compatible with the Bitcoin ABC client and will support the proposed update.
Users must make their own arrangements to transfer coins to other chains if they become available.. Electron Cash supports Trezor and supports all chains, so the user can easily choose which chain to use.
According to news.bitcoin.com
You May Also Like
Financial giant Mizuho will use cryptocurrency for cashless payments
Japanese financial group Mizuho plans to start using digital currency for money transfers and payments in March, local news source Nikkei reported today. The fee that retail stores will have to pay to accept cryptocurrency will be significantly lower than the fee for using a credit card. Transferring funds between a digital wallet and a bank account will reportedly be free, as will sending funds to other users.
US authorities are developing methods to track sensitive cryptocurrencies
The US government is considering using forensic analysis techniques to track transactions involving the cryptocurrencies Zcash (ZEC) and Monero (XMR). This is according to the Small Business Innovation Research (SBIR) Program published by the US Department of Homeland Security.
