Poloniex Exchange Will Support Both Bitcoin Cash Chains After Hard Fork
Cryptocurrency exchange Poloniex this Wednesday announced that it will support both Bitcoin Cash chains that may form after a hard fork scheduled for November 15.
“On November 15, there will be an update involving two competing development teams proposing their own consensus rules that are incompatible with each other: implementation of SV and implementation of ABC,” the company writes. “We believe it is our responsibility as an exchange to remain neutral and empower the community to decide which chain to support. Accordingly, we plan to support trading in both markets for two tokens. “.
Most of the exchanges that have volunteered to take part in the Bitcoin Cash hard fork so far did not specify in their messages which chain they would choose, or expressed support for the Bitcoin ABC client..
Thus, Poloniex’s solution can ensure the economic viability of both chains, at least in the first phase. Technically, the followers of both variants of the fork should not have any problems keeping their networks alive, regardless of the amount of computing power that they will have at their disposal. The Bitcoin Cash code implements an urgent difficulty adjustment mechanism, which is able to quickly adapt the mining difficulty depending on the amount of computing power at a particular time, which, for example, Bitcoin does not have..
Interestingly, Circle, which acquired the Poloniex exchange earlier this year, held a $ 110 million fundraising round in May, led by Chinese mining company Bitmain. Bitmain is one of the key players in the Bitcoin Cash ecosystem and side with Bitcoin ABC in the latest dispute.
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