How to prepare and what to expect from the hard fork Bitcoin Cash?

There is a debate in the Bitcoin Cash community about whose blockchain canclaim the brand "Bitcoin Cash" and the ticker "BCH" afterfork. Of course, the development teams don't give up without a fight.

The controversy between Bitcoin ABC (BCHA) and Bitcoin Cash Node (BCHN) developers led to a new hard fork on November 15, 2020.

Bitcoin ABC, led by Amaury Sechet,insists on a new "rule of monetary base" according to which miners must give 8% of rewards to the Bitcoin ABC developer fund. Bitcoin Cash Node, led by Roger Ver, opposes the implementation of the "coin base rule" and states that miners should not pay tax to developers. Instead, miners can donate to developers on a voluntary basis.

At the moment, the majority of the community is behind the Bitcoin Cash Node, with 80% of the nodes declaring that they will support BCHN after the November 15 update.

Which exchanges will support the Bitcoin Cash fork?

When it became clear that the fork could not be avoided, most major platforms pledged to support BCHN as the dominant Bitcoin Cash network.

Binance will accept both forks and credit BCH holders with new coins at a 1: 1 ratio.

Houbi and Bitfinex will also support trading and Bitcoin Cash ABC and BCHN and will credit clients with tokens after the fork.

Regardless of the outcome of the update, Kraken will only support BCHN.

The Trezor crypto wallet also decided to support one of the forks, but the opposite one – Bitcoin ABC.

All platforms will suspend BCH deposit service ahead of the fork on November 15, 2020, take snapshots of customer account balances, and resume coin support once the situation stabilizes.

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