Bitcoin Cash BCH: Hard Fork
This weekend two exchanges have released details on how they will handle the November 15 Bitcoin Cash (BCH) hard fork if there happens to be a blockchain split. The exchange Coinex and the trading platform Bitasiaex have informed their customers how they intend to deal with the upcoming consensus changes.
What is a hardfork?
The cryptocurrency mainnet operates according to certain rules. To improve network performance or correct errors, changes are periodically introduced into it. A hard fork represents changes that are not compatible with previous versions of software supporting the cryptocurrency network. In order to continue to mine the cryptocurrency, miners need to update the software.
In some cases, as a result of a hard fork, a completely new cryptocurrency may appear, as happened with Bitcoin Cash and EthereumPoW.