Bitcoin’s community was struggling with the scalability and the rise of transaction fee last year. Therefore they’d decided to hard fork the Bitcoin into BTC and BCH(bitcoin cash). Raising the Block size and improving the flexibility to handle a more significant number of transaction, bitcoin lives.
Bitcoin forked Bitcoin cash on last year’s August. A hand fork is a process of splitting the existing chain into 2, including significant updates and bug fix. Bitcoin cash was the solution for the scaling issue of bitcoin.
Since the release of bitcoin cash, the coin is struggling its way to survive against bitcoin. Later BCH was questioned to be centralized.
What is Hard Fork?
In simple word, a Hard fork is a process of splitting the blockchain into two along with updation of new version update. One chain will remain with the original version, and the other chain will have the updated version.
Why Hard Fork Bitcoin Cash?
Since after the release of the bitcoin cash on the mainnet, there were constant conflicts for the consensus. The developers are on different paths. As no agreement reached, a hard fork is decided to utter soon.
When will this Fork Happen?
The fork is announced to happen on 15th November 2018, at around 4:40 PM GMT, i.e., UNIX timestamp 1542300000. And eventually, result in splitting the chain into 2. One of them will be the main dominant chain, and the other one is the snapshot chain.
Do I need to Worry?
Thought the fork doesn’t have the relay protection, many of the exchanges and wallet will suspend the transaction for bitcoin cash for a while to protect from any frauds.
It is recommended to hold your Bitcoin Cash on a supportive exchange during the snapshot process.
If you are holding your bitcoin cash on a supportive favorable crypto exchange, then you don’t have to worry about anything. List of the supporting exchanges is given at the end of the post.
Keep on up-to-date about the BCH fork updates on major exchanges twitter handles and other social handles.
Exchange Supporting Bitcoin cash Hard Fork
Here is the list of supporting exchanges for bitcoin cash hard fork