Fork bitcoin cash 13 november

A fork in a blockchain protocol occurs when the node software is modified. Backward-compatible modifications result in soft forks — if a majority of network participants upgrade to the new software, then a single blockchain is maintained.

The Nov 15th 2021 Bitcoin Cash fork, and what it means for our customers

Backward-incompatible modifications result in hard forks — the new rules conflict with the old rules and the blockchain splits, creating two separate networks. If there is a disagreement within the network on which blockchain to continue to develop, then a contentious hard fork occurs, with the contending parties operating two versions of the blockchain with different consensus rules.

This is exactly what is happening with Bitcoin Cash right now. There has been strong opposition from the community, particularly from the Bitcoin Cash Node development team. If the fork results in two competing chains, the dominant chain with majority support will retain the Bitcoin Cash name.

However, existing BCH holders will also receive tokens from the new chain if their BCH is in a wallet which supports the fork. Miners can signal their support for either side. Replay attacks can happen following a fork, where a transaction on one chain is replayed on the other chain by an attacker, which is possible since both chains share the same transaction history and signing algorithm.

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The user that sent the original transaction then loses the corresponding amount of asset on the other blockchain. A user holding both coins spends USD 10 worth of tokens from the new chain, but unfortunately, the vendor that they sent the tokens to broadcasts that same transaction to the BCH network, confirming it as a legitimate transaction, and the user loses one BCH, or USD Protection against replay attacks can be implemented on either of the chains, but with both sides claiming to be the next BCH, neither has announced this as yet.

Prior to maintenance, we will perform the following to prepare to support the fork:. During maintenance, the site will be offline and all trading will be suspended. Customers do not need to do anything at this time but here is some important information to keep in mind:.

Once maintenance has been completed, markets will be in post-only mode for a short time before we reopen full trading.

MODERATORS

Bitcoin Cash markets may remain in post-only mode for a longer period of time than our other markets. During post-only mode, you can cancel open orders and create new orders but no orders will be filled. Futures trading will open in cancel-only mode before we reopen full trading.