Announcement Center

Dear CoinW users:

The Bitcoin Cash network will undergo a semi-annual hard fork upgrade on November 15th as planned. The Bitcoin ABC team plans to introduce new Coinbase rules in the upgrade, and allocate 8% of block rewards to developers to support the infrastructure construction of Bitcoin Cash, namely the Infrastructure Funding Plan (IFP) of Bitcoin Cash. This plan has caused widespread discussion and controversy in the BCH community. Therefore, the Bitcoin Cash Node development team launched an implementation of BCHN that is incompatible with the Bitcoin Cash full node developed by the BitCoin ABC team. BCHN has removed the Coinbase rule and obtained supports of most miners.

Since the Bitcoin ABC full node implementation is widely used and recognized, it is very likely that Bitcoin Cash will be forked into two chains during the upgrade. One chain will inherit the name of Bitcoin Cash (BCH), and the other chain will become a brand new asset. If a fork occurs at that time, all users holding Bitcoin Cash (BCH) will automatically get two digital assets in a ratio of 1:1.

Unlike previous forks, this potential fork may not be able to continue due to lack of computing power in a certain chain, or as it may be forked into two chains, it is not certain which chain will inherit the name of Bitcoin Cash (BCH). What is more complicated is that this potential fork lacks a transaction replay protection mechanism, which will cause a lot of confusion and the loss of user assets.

We will launch the BCH forked futures market soon, the specific plan is as follows:

1. Before the official fork on November 15th, users can exchange BCH 1:1 into BCHA and BCHN. BCHA represents the Bitcoin ABC chain after the potential fork, and BCHN represents the Bitcoin Cash Node chain.

2. If Bitcoin Cash forks into two chains after November 15th, CoinWwill choose the chain with the higher price at the last moment before the fork as BCH, and users who hold the forked futures tokens of the chain will get BCH in a ratio of 1:1. At the same time, users who hold BCH before the fork will get two tokens 1:1. In the future, CoinW will also re-adjust the naming rules based on the community consensus.

3. After November 15th, if Bitcoin Cash does not fork, that is, onechain wins. The chain will inherit BCH, and we will delist the forked futures tokens of the other chain. Investors should be aware of risks.

CoinW also supports the withdrawal function of BCH before the fork, and once listed, the deposit function of BCH will be activated as soon as possible.. The maximum withdrawal amount of BCH is the smaller value of {BCHA, BCHN} two forked tokens. After the withdrawal is successful, BCHA and BCHN will be automatically deducted in equal amounts.

Risk Warning:

Bitcoin Cash fork has great uncertainty. Trading or investing in fork futures tokens is highly risky. Any chain lacking the support of miners may be unable to survive, which results in a value zero-out of tokens held. CoinW does not make any promise for the value of any forked futures tokens!