On November 15th, the Bitcoin Cash network will undergo a scheduled upgrade. Due to a controversial decision taken by one of the Node implementations (Bitcoin ABC) which plans to introduce IFP, the BCH network upgrade will result in a Hard Fork between one chain that is supported by Bitcoin ABC and the other supported by multiple Node Implementations like Bitcoin Cash Node, Bitcoin Unlimited, BCHD (Bitcoin ABC too) and more.. which will be represented by the Bitcoin Cash Node for simplicity.
By default Zapit will support the Bitcoin Cash Node chain and will not be supporting the Bitcoin ABC chain except under the condition that if the Bitcoin ABC chain gets more than 25% of the hash then we will add an extra feature to the wallet that will allow users to send the split coins from the ABC chain to any wallet/exchange that would be supporting that chain.
But the main BCH wallet including SLP tokens and all the services and features will continue to operate only on the Bitcoin Cash Node chain.
If users want to gain access to the split coins there are multiple ways of doing it.
Just hold the funds in your wallet and wait for the outcome. If the Hashrate of the ABC chain is above 25% then you will be able to send out the funds from the Zapit wallet.
Import the 12-word seed phrase into any wallet that runs on the ABC chain and set the default derivation path
m/44/145'/0'/0for BCHm/44/245'/0'/0for SLP and you will be able to use the ABC coins from that specific wallet.Send your funds (BCH/SLP) to any exchange that has agreed to split the coins on your own risk.
This is not a sudden decision that we have taken as we have unofficially mentioned not supporting the IFP chain on multiple occasions and wanted to wait longer to make an official statement.
Hope this answers all questions and clears all doubts for Zapit users regarding our position in the upcoming fork.
If you do have any questions please feel to ask us here, or drop a message in our official telegram group - @Zapit_io
Can I move my BCH to zapit wallet for the fork or I should make use of the exchange?
I can see that zapit is not fully in support of the fork/ claiming or there will be another announcement before the fork?