Following the upcoming BCH hard fork, one of the world known exchanges ‘Poloniex’ has given her preparatory ideas. The hard fork is expected to take place on 15th November 2020 at 12:00 UTC. BCHABC will undergo a hard fork and is expected to give birth to two chains.
According to Poloniex the expected two chains are BCHABC and BCHCN. The team behind the full node ABC are saying infrastructural funding plan should be activated while the team behind full node clients including Bitcoin Verde, Bitcoin Unlimited and Bitcoin cash Node are against the activation of IPF even though ABC has being the dominant client since the inception of BCH. The majority of the hash rate are pointing at bitcoin cash node clients. The debate is still ongoing.
Bitcoin pre-fork trading measures
Poloniex has given customers option to split their BCHABC on Poloniex and claim equal amount of Bitcoin Cash (BCHA) and Bitcoin Cash Node (BCHN) before the November 15th hard fork, clients can also merge BCHA and BCHN to claim an equal amount of BCHABC that can then be transacted or withdrawn.
Measures To Be Taken By Poloniex Considering the Hard Fork
All wallets, spot trading, marginal trading, LENDING will be disabled before 15th November 2020 at 12.00 UTC
Once the outcomes of the hard fork is decided they will snapshot all client user balance and distribute BCH and/or BCHA to eligible customers.
In conclusion, after the hard fork and the distribution, client will be able to see their balance of both tokens inside the Poloniex wallet but deposit and withdrawals will be disabled until the blockchain’s network is accurately stable.
For more information visit https://support.poloniex.com/hc/en-us/articles/360057023854
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