Coinbase all geared up to monitor the BCH hardfork and minimize customer disruption – BCFocus

November 15, 2018
39 Views


Bitcoin cash

It’s an annual routine and twice a year the Bitcoin Cash hardfork takes place for annual scheduled protocol upgrades. The next hardfork is scheduled for today, November 15, 2018. Unlike previous BCH hardforks, there is a competing proposal that is not compatible with the published roadmap. The San Francisco-based crypto exchange is all geared to monitor the hardfork process and work to minimize customer disruption until the network meets customer.

In an earlier example, the exchange announced that it would pause sends and receives on the BCH wallets at Coinbase.com, in our iOS and Android apps and at Coinbase Pro, Prime, and Custody beginning at 8 AM PST on Thursday.

Due to recent developments, it has now been determined that it will be necessary to pause all buys, sells, and trading of BCH starting at 8 AM PST on Thursday at coinbase.com, in the iOS and Android apps, and on Coinbase Pro and Coinbase Prime.

Accordingly, during the time of the pause, customers will not be able to remove or their BCH from Coinbase.

During the hardfork, the exchange is planning to take the following steps. The exchange will:

  • Pause withdrawals and deposits, as well as buys, sells, and trading of BCH
  • Take a snapshot of existing BCH balances
  • Monitor the fork for network consensus
  • Clear order books and re-enable buys, sells, sends, receives, and trading of BCH
  • If another chain exists, customers will have the ability to withdraw funds at a future date

Ahead of the much-anticipated hardfork, BCH has lost 14.8 percent of its value in the last seven days, which reiterates the fact the community is divided over the hardfork which is scheduled to take place on Thursday. The coin rose 2.8 percent and became one of the top performers in the market.

See Also: Coinbase resurfaces in Wyoming with renewed transmitter license

Bitcoin Cash Fund to assist Reddit’s r/MillionaireMakers future drawings in Bitcoin Cash [BCH]

Image via Google

Join our Telegram group





Source link

You may be interested

Forbes Analyst Expects Bitcoin Price At $2,500 – Ethereum World News
Ethereum News
2 views
Ethereum News
2 views

Forbes Analyst Expects Bitcoin Price At $2,500 – Ethereum World News

Editor - December 13, 2018

[ad_1] Forbes Analyst Expects Bitcoin Price At $2,500  Ethereum World NewsA markets analyst contributing to Forbes recently claimed that he expects…

Former AriseBank Execs Settle Charges in SEC ICO Fraud Lawsuit
ICO News
2 views
ICO News
2 views

Former AriseBank Execs Settle Charges in SEC ICO Fraud Lawsuit

Editor - December 13, 2018

[ad_1] The U.S. Securities and Exchange Commission (SEC) has settled charges with two former executives of AriseBank, which was hit…

Coinbase Maintenance Schedule Could Have Been Behind the $3 Billion Worth of BTC Transfers Last Week
Coinbase News
1 views
Coinbase News
1 views

Coinbase Maintenance Schedule Could Have Been Behind the $3 Billion Worth of BTC Transfers Last Week

Editor - December 13, 2018

[ad_1] The first week of December saw one single user send 856,000 bitcoins in batches of 8,000 to 107 separate…

Leave a Comment

Your email address will not be published.