The Bitcoin Cash (BCH) network will undergo a hard fork upgrade at around 14:00 CEST on 15 November 2020.
Simply put, this means that the Bitcoin Cash blockchain will be split into two separate blockchains and protocols, named Bitcoin Cash Node and Bitcoin Cash ABC.
The Bitcoin Cash miners will freely decide which of the two chains they will support by attributing their computing power to one or the other. It currently appears that the vast majority (over 70%) will support the Bitcoin Cash Node as opposed to less than 1% that is currently signaling for Bitcoin Cash ABC.
In the likely scenario of Bitcoin Cash Node becoming the new dominant chain, Kriptomat will retain the protocol name Bitcoin Cash with the ticker BCH.
What this means for you as a Kriptomat user
a) If you don't have any Bitcoin Cash (BCH)
This will not affect you in any way.
b) If you have Bitcoin Cash (BCH)
Please read our plans for the hard fork:
- Kriptomat will support the Bitcoin Cash Node regardless of the outcome of the hard fork.
- We will temporarily disable all Bitcoin Cash (BCH) transactions (buying, selling, withdrawals, deposits) on Sunday, 15 November 2020 at 10:00 CEST.
- We will support Bitcoin Cash ABC only if the hash power on the Bitcoin Cash ABC network is sufficiently high (to be determined at our discretion).
- If we support Bitcoin Cash ABC, it will be called “Bitcoin Cash ABC” on our platform and represented by the BAB ticker.
- If we support Bitcoin Cash ABC, the users with a Bitcoin Cash (BCH) balance on the Kriptomat wallet at the time of the fork will receive an equal amount of BAB.
- We will enable all Bitcoin Cash (BCH) transactions on **Monday, 16 of November 2020 (exact time to be determined).
If you have a Bitcoin Cash (BCH) balance on Kriptomat during the time of the hard fork, you agree that we will handle the fork at our discretion, and you understand that we may not support the newly created Bitcoin Cash ABC.
**Changed to Wednesday, 18 November 2020.