Poloniex to Support Both Bitcoin Cash Chains

Bitcoin Cash may split on 2 chain after upcoming hardfork
07 November 2018   153

The cryptocurrency exchange Poloniex intends to support both Bitcoin Cash chains, which may appear after the network upgrade planned for November 15.

For the upcoming November 15th upgrade, two competing development teams have proposed different network consensus rules that are incompatible with each other: the “SV” implementation and the “ABC” implementation. We believe the responsible thing for an exchange to do is remain neutral, and allow the community to decide which chain to support.  Therefore, we plan to support trading markets for both tokens.
 

Poloniex

On November 15 there will hardfork in Bitcoin Cash chain. However, there are two development teams that offer incompatible clients Bitcoin SV and Bitcoin ABC.

Note that Coinbase, OKEx and Binance have already expressed support for the implementation of traditional Bitcoin ABC software.

Meanwhile, the rate of BCH over the past day has grown by more than 11% and is trading at around $ 630.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   183

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.