This article will be updated if there are any developments related to how Liquid will accommodate the fork.
It's now been two weeks since the Bitcoin Cash hard fork that split the chain into BCH ABC and BCH SV. BCH ABC trading, deposits and withdrawals have now been enabled on Liquid under the BCH ticker.
As previously announced, all Liquid users who held BCH at the time of the fork will receive BCH SV tokens on a 1:1 basis. However, before we credit the additional tokens and enable trading, withdrawals and deposits of BCH SV, we are carrying out a deep and continuous analysis of the stability of BCH SV.
We do this to be sure that when activities are enabled, there is minimal risk to ourselves and our clients. We do not have a timeframe on this, but will make a further announcement in due course. We thank you for your patience.
UPADTE 3: Bitcoin Cash deposits are now resumed. Withdrawals to follow. On Liquid, BCH currently refers to BCHABC. We will be adding support for BCHSV shortly and crediting Liquid users who had BCH balances at the time of the snapshot.
UPDATE 2: The BCH hard fork is complete. The current BCH on Liquid is Bitcoin ABC. Deposits for BCH will open shortly.
We will make a further announcement about the reopening of withdrawals and the introduction of BCH SV on Liquid.
UPDATE: Liquid will support both of the proposed Bitcoin Cash forks. This means that traders who keep their Bitcoin Cash on Liquid for the fork will get both Bitcoin ABC and Bitcoin SV and that there will be trading markets for both coins after the fork is completed. Users who hold BCH in their balances at the time of the fork will be credited with equivalent Bitcoin ABC and Bitcoin SV.
In preparation for the hard fork, Liquid traders are advised to please close any open BCH margin trading positions now. All open BCH margin trading positions will be closed by the system before 5pm JST.
As many of you will know, twice a year the Bitcoin Cash community performs a network update. Usually these updates have no impact on trading activities and go by largely unnoticed by the wider world, but the next update, on November 15, is likely going to result in a split of the blockchain, also known as a hard fork. This will lead to two different protocols, Bitcoin ABC and Bitcoin SV.
Bitcoin ABC, backed by Bitmain, is proposing a move beyond monetary transfers, opening up the possibility of smart contracts. Bitcoin ABC will introduce canonical transaction ordering, which is believed will support scaling efforts in the future. Bitcoin SV, led by Craig Wright’s nChain, is proposing to quadruple the blocksize to support scaling efforts.
These two opposing upgrades will result in the hard fork of Bitcoin Cash.
In order to handle this fork on Liquid, we will halt deposits and withdrawals of Bitcoin Cash 24 hours before the fork is due to begin, around 4.40pm GMT on November 14. We plan to reopen deposits and withdrawals after the hard fork has been completed.