This pre-fork trading offer is a first for the exchange, nd it is part of efforts to become a top innovative exchange. Since the announcement of the hard fork and the possibility of a network split, several crypto exchanges have informed their customers on how they plan to handle the possible eventualities.
Circle’s Poloniex Is Offering Support for Bitcoin Cash Hard Forks
On November 2, Binance confirmed its support of the hard fork. In a post on its support page, Coinbase informed its clients that it would pause deposit and withdrawals services on all BCH wallets for the hour leading up to the hard fork. The exchange will restore these services at the completion of the upgrade. If the upgrade leads to a split, Coinbase assured its customers that they would be able to access their crypto assets on each viable chain.
Bitcoin Cash Hard Fork FAQ – Poloniex
Ledger also announced its plan to suspend deposit and withdrawal support for BCH before the hard fork to avoid loss of funds. Ledger plans to support the dominant chain at the end of the November 15 upgrade. To display trending posts, please ensure the Jetpack plugin is installed and that the Stats module of Jetpack is active. Refer to the theme documentation for help.
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Share Tweet. While offering trading pairs for the two coins, Poloniex is maintaining a neutral stance on the planned hard fork: We believe the responsible thing to do in this case is remain neutral and allow the community to decide which chain to support, and we want to empower the community to demonstrate their support through trading activity.
This allows traders to get early access to these tokens and show their support. Read on for more information on pre-fork trading.
Why is this Bitcoin Cash fork happening? Like many blockchain protocols, Bitcoin Cash has one single protocol but many independent teams responsible for building the various client implementations of that protocol.
While ABC is historically the dominant client in terms of hash rate, the majority of hash rate is pointing at the Bitcoin Unlimited client at the time of this posting. This allowed traders to speculate on the outcome of the contentious fork and move their value to the chain that they believed to be most valid.
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Trading in these tokens can be extremely risky so please trade at your own risk. While it seems highly likely that a contentious hard fork does occur on November 15, , there is the possibility that a resolution is found and Bitcoin Cash proceeds as one single chain. If that occurs, the value of the abandoned fork could fall to zero and the value of the predominant fork should trend closer to the value of BCHABC prior to the fork.
We will support both chains as long as they remain technically and economically viable after the fork.