As the world's largest cryptocurrency exchange by user base, Coinbase has confirmed its support for the upcoming Bitcoin Cash (BCH) hard fork.
Coinbase's Preparedness for the BCH Hard Fork
According to an official statement on Coinbase's website, the exchange is ready to back the hard fork roadmap proposed by bitcoincash.org. The roadmap includes:
- Removing topological transaction order constraints.
- Enforcing canonical transaction ordering.
Coinbase will monitor the November 15 hard fork to minimize user disruptions. The company stated:
"We will pause sending and receiving Bitcoin Cash wallets on Coinbase.com, iOS/Android apps, Coinbase Pro, and Prime starting at 8:00 AM PST (one hour before the fork). Ensure all BCH transactions are completed before this time. Your funds remain secure during the pause."
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The exchange has not specified a timeline for resuming BCH transactions post-fork, noting:
"After the upgrade, we’ll evaluate the forked network and take appropriate steps, including reactivating BCH transactions. Customers will receive real-time updates."
Divisions Within the Bitcoin Cash Community
The BCH community has split into two major factions over the past year:
Bitcoin ABC – Proposes:
- New opcode
OP_CHECKDATASIGto enable external data verification. - Canonical transaction ordering for scalability.
- New opcode
- NChain (led by Craig Wright) – Advocates for Bitcoin Satoshi Vision (SV), claiming it aligns with Satoshi Nakamoto’s original vision.
NChain, backed by Coingeek, has gained miner support due to protocol advantages favoring mining rewards.
Binance Joins Coinbase in Supporting the Fork
Binance also announced its backing for the hard fork, pausing BCH deposits/withdrawals on November 15 at 3:00 PM UTC.
FAQs
Q: Will my BCH balance be affected during the hard fork?
A: No. Your holdings remain intact; only transactions are temporarily paused.
Q: Which chain will exchanges support post-fork?
A: Major platforms like Coinbase and Binance will evaluate network stability before deciding.
Q: What’s the key difference between Bitcoin ABC and SV?
A: ABC focuses on smart contract enhancements, while SV prioritizes restoring original Bitcoin protocols.
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This article is based on publicly available information and does not constitute financial advice.
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