One American crypto exchange, known as Poloniex, announced its own take on the Bitcoin Cash or BCH rift, intending to permit trading on both of the versions of the coin. Furthermore, both are actually available before the fork even occurs.
Bitcoin Cash splitting into two different parts
Bitcoin Cash will split into two parts soon. This is a fairly common happening with cryptos, as some of the members of the community may actually not agree with an upgrade to the blockchain, and they continue with the use of the original one, as they are free to do so. The result is a blockchain which forks into two paths, each of them with its own token.
But, in this case, it is far more complicated as two BCH, as the two Bitcoin Cash teams will activate completely different upgrades. BCH is going to be on one path, and one new coin which is called Bitcoin Satoshi Vision will be on the other. All of the holders of BCH are going to find themselves with an equal amount of BCH and BSV after the fork.
The market anticipation also led to BCG rising drastically in price, and mining companies respond by focusing more on this coin than on Bitcoin or BTC.
Poloniex offers both versions of BCH
As it has been announced, Poloniex offers both, saying that they believe the responsible thing to do in this case is to be neutral, as well as permit the community to decide which chain they have to support, and they want to empower the community to demonstrate their support through trading activity.
Notably, it allows pre-fork trading. The two candidates were previously known as BCHABC and BCHSV – BCH being Bitcoin Cash, ABC being the team which stood behind the first update, and SV being Satoshi Vision, which is going to be the name of the coin which is created by the second update.
The customers are not going to have the ability to withdraw these two temporary coins before the hard fork.
Poloniex is actually based in Delaware, and it handled $33.4 million in crypto trades over the last one or two days, as it was reported. It was founded in 2014, and it has been acquired in February 2018 by Circle Internet Financial Limited, which is a crypto startup backed by Goldman Sachs, for an estimated $400 million. One month after that, one executive of Circle has stated that the company has been hiring tens of people to expand the business of the exchange in Asia.
The SBI Virtual currencies will suspend BCH operations
However, in October this year, the exchange has restricted American customers from accessing margin trading, as well as de-listed three cryptocurrencies, in an effort to comply with the country’s authority.
Notably, the two of the most popular crypto exchanges in the world now, which are Binance and OKEx, declared for various versions. The SBI Virtual currencies, which actually runs for an exchange in Japan, has announced that it is going to be suspending BCH operations a few days before the occurrence, and it is also going to resume according to the stability of the market.
The CEO of Bitcoin (Cash).com, named Roger Ver, actually reminded on the fence thus far.