What is happening?
A contentious hard fork of Bitcoin Cash is scheduled for 15 November 2020 at approximately 12:00 PM (UTC). The bitcoin cash network may split into two blockchains, essentially creating an additional token.
Why is this happening?
The likely split is between two protocols; Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC. As it stands, more than 70% of blocks are signaling for Bitcoin Cash Node, while less than 1% are signaling for Bitcoin Cash ABC, so Bitcoin Cash Node looks like it will be the dominant chain by far.
The proposed upgrade, at least for the BCHN version, introduces a novel mining algorithm and is widely accepted. Meanwhile, the Bitcoin ABC camp supports an alternative upgrade that adds a further element allocating 8% of the block rewards to the ABC development team. Zcash (ZEC), a privacy-centric coin has a similar fund, and Dash (DASH) sees a much larger percentage go to its treasury, which is used to promote the cryptocurrency.
Bitcoin Cash’s community, however, believes the 8% allocation to developers goes against the cryptocurrency’s decentralized nature and is even perceived by many as a ‘tax’ to the network.
What will iCE3 do?
Due to this fork on 15 November 2020 iCE3.com will pause all Bitcoin Cash (BCH) deposits and withdrawals at 6 pm GMT+2 on the 14th November 2020.
We will assign the BCH ticker symbol to the dominant chain and recognize the dominant protocol as such.
We will re-enable BCH deposits and withdrawals once the hard fork is complete and we deem it safe and secure to do so.
What do you need to do?
iCE3 will NOT be claiming or issuing any additional tokens. (also see https://help.ice3.com/a/solutions/articles/11000047779 )
Should you wish to claim the tokens available as a result of a positive BCH balance you need to withdraw your BCH tokens from the exchange before deposits and withdrawals are disabled (6 pm GMT+2 on the 14th November) to a wallet where you control the private keys.