HARD FORK STATEMENT

in #cyptocurrency7 years ago

Recently, there have been discussions about the possibility of a bitcoin hard fork happening so we wanted to address the issue for users who have their coins stored with us.


We feel that the possibility of a hard fork has been greatly exaggerated, however we are prepared to deal with it if it does happen.


If there is a hard fork, we shall always follow the longest chain (the chain with the most proof of work) as our primary coin. Bitcoins on the secondary chain however, will be made available for withdrawal by users after there has been a clear winning chain. So for each satoshi that users have with us, they will receive 2 (or more if there are multiple forks), one on the longest chain and one in the minority chain/s.


If there is a chance of a hard fork being successful and causing disruption to the network, we shall pause all deposits and withdrawals before the scheduled hard-fork time and resume them only after there has been a clear winning chain.

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What could happen if a hard fork goes through, and has way more POW for a while but eventually people go back to another chain ? (just like how ETC is still really big but more of a bigger difference than that.)

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