Kraken will only support BitcoinABC in upcoming Bitcoin Cash hard fork

11 Nov, 2018
by Will Heasman
News
Kraken will only support BitcoinABC in upcoming Bitcoin Cash hard fork

The Kraken exchange has played its hand, revealing that it will not support Bitcoin SV in the upcoming Bitcoin Cash hard fork.

In a post released yesterday, the exchange stated that they will only provide support for Bitcoin ABC, warning users that they will not receive any Bitcoin SV after the expected chain split: 

“On November 15 Kraken will prepare its Bitcoin Cash (BCH) wallets to be Bitcoin ABC specific so that coins from any alternative chains will be retained and not sent out from our wallets in withdrawals. We will not support any alternative chains for funding or trading on the day of the fork.”

Kraken adds that SV does not currently “meet Kraken’s listing requirements and is unlikely to be supported.”.

The exchange also cautions users about trading during the fork, asserting that while it is not technically dangerous, the expected volatility could prove to be detrimental.

The civil war currently waging within the development camps of BCH, is tearing the cryptocurrency asunder and forcing exchanges and users alike to make a choice between two distinctly different versions of BCH.

On one hand, there's Craig Wright's (Coingeek supported) Bitcoin SV proposal, which looks to increase the blocksize to 128mb and reintroduce long forgotten opcodes; on the other, there is Bitcoin ABC, (backed by mining giant Bitmain) which plans to re-enable a specific opcode which could grant the ability to use smart contracts. ABC also plans to utilize canonical transaction ordering to free up space and speed up transactions.

Read more: The Bitcoin Cash civil war: Chain split or consensus?; Binance announces support for Bitcoin Cash fork

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