With the Bitcoin Cash (BCH) network hard fork approaching on November 15, 2018, infrastructure providers are unveiling their contingency plans. The potential chain split due to competing client rulesets has prompted exchanges, wallets, and developers to prepare for multiple scenarios.
Key Developments Ahead of the BCH Hard Fork
Binance and Coinbase Announce Fork Support
- Binance confirmed support for the Bitcoin ABC upgrade, suspending BCH deposits/withdrawals before the fork and taking a balance snapshot at 4:40 PM UTC on November 15.
- Coinbase aligned with Bitcoin ABC’s roadmap, pausing BCH transactions one hour pre-fork. Users retain access to funds on any viable post-fork chains.
Poloniex and KuCoin’s Preparations
- Poloniex (Circle-owned) will snapshot BCH balances and halt transactions until network stability resumes.
- KuCoin suspended BCH deposits/withdrawals at 11:00 PM UTC+8 on fork day, backing Bitcoin ABC’s proposal.
Wallet Providers’ Fork Strategies
- Trezor: Runs Bitcoin ABC client; advises users to split coins manually via Electron Cash due to lack of replay protection.
- Cointext: Maintains BCH access numbers, broadcasting transactions compatible with Bitcoin ABC and Bitcoin Unlimited nodes.
- Centbee: Supports Bitcoin SV node; users control private keys, unaffected by the fork.
- Cashpay Solutions: Implicitly backs Bitcoin SV (per Coin Dance data).
👉 Explore secure BCH wallet options
Broader Ecosystem Responses
- Bitcoin.com services (Wallet, Block Explorer) operate on Bitcoin ABC 18.2 and Bitcoin Unlimited 1.5.0.0.
- Bitz Exchange pledged fork support without specifying client preferences.
- Ryan X Charles (Money Button) advocates infrastructure neutrality, proposing dual-chain support post-fork.
FAQ: Bitcoin Cash Hard Fork
1. Will the BCH fork create two separate coins?
Yes, if Bitcoin ABC and Bitcoin SV nodes produce persistent chains, both may coexist.
2. How can users protect their BCH during the fork?
Move funds to wallets supporting manual coin splitting (e.g., Electron Cash) or trusted exchanges with clear fork policies.
3. Which exchanges support Bitcoin SV?
As of now, Centbee and Cashpay endorse SV, while most major exchanges follow Bitcoin ABC.
👉 Stay updated on fork developments
Final Thoughts
The BCH community remains divided, but proactive planning by service providers aims to minimize disruption. Whether the fork leads to innovation or fragmentation depends on post-fork adoption.
What’s your take? Share your views on the fork’s implications in the comments.
Disclaimer: This content is for informational purposes only. Always conduct independent research before making financial decisions.
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