Namaste Tribe! BCH is planning to undergo a hard fork on 15th November 2020 at around 5:30 PM IST. This is a contentious fork, and may result in a chain split between BCHN and BCHABC.
Here’s how WazirX will handle the fork:
- BCHABC deposits and withdrawals: WazirX will suspend BCHABC deposits and withdrawals at 3:30 PM IST on 15th November 2020. We will handle all technical requirements for users holding BCHABC on WazirX.
- BCHABC trading: BCHABC/USDT and BCHABC/INR trading will continue unaffected throughout the fork.
What will happen with fork?
Since this is a contentious fork between Bitcoin Cash ABC Node and Bitcoin Cash Node, a split might result in an additional token. Here are two likely scenarios:
- Scenario A: The fork results in two competing chains. WazirX will credit users with BCH from the chain with the most work done. We will then also credit users with the token from the minority chain at a ratio of 1:1 based on the snapshot of BCH balances at 5:30 PM IST on 15th November 2020.
- Scenario B: No new token is created. WazirX will then resume BCHABC deposits and withdrawals as soon as possible.
As of now, 74.6% of BCH blocks have shown support for BCHN compared to 0.8% for BCHABC. You can view the latest data here. If this signaling status continues through the hard fork, WazirX will treat the BCHN chain as the future BCH chain. Should the signaling support change prior to the hard fork, WazirX reserves the right to update the treatment of the chain split in a further announcement.
Thank you for your support!