Note on Bitcoin Cash fork on 15 November 2020 | by | @blockchain | Nov, 2020

On November 15th 12:00 UTC the Bitcoin Cash (BCH) network will split into two chains: the Bitcoin Cash Node (BCH) chain and the Bitcoin Cash ABC (BCH ABC) chain. will support the Bitcoin Cash Node (BCH) chain and reserve the right not to acknowledge ABC’s BCH fork if the new chain is not adequately adopted.

As a precaution, we will stop all sending, deposit and withdrawal of BCH on November 14th until the network appears stable. In addition, once transaction support resumes, we can increase the number of network confirmations required for deposits to be processed.

Trading within the exchange and trading wallet will be suspended. Exchange, deposit and withdrawal between the exchange and the trading wallet will experience temporary delays.

What is a fork and why is it happening?

Crypto networks rely on participants reaching a consensus on the network rules. When a large enough group of network participants do not agree with the current set of rules, they may decide to create their own network by ‘forking’. In the case of Bitcoin Cash, the Bitcoin Cash Node and the Bitcoin Cash ABC communities disagree on what the future rules of the network should be. Therefore, a split is organized by ‘forcing the chain.

So what does this mean for me as a user?

We do not recommend taking any action. Your funds are secure, we will temporarily stop their transfer and trading.

However, as is not likely to support BCH ABC, if you wish to secure access to the BCH ABC chain after the fork, withdraw any BCH from the platform by 16:00 UTC on November 14th. More information is available here.

We remain committed to protecting our customers through network changes.