The Bitcoin Cash (BCH) network is approaching a pivotal moment. With just days before the scheduled hard fork on November 15, 2018, the cryptocurrency community is bracing for potential network fragmentation. Two competing development teams—Bitcoin ABC and Bitcoin SV—are proposing divergent changes to the consensus mechanism, setting the stage for a high-stakes upgrade that could split the blockchain.
As uncertainty mounts, major cryptocurrency exchanges and wallet providers are stepping forward with clear contingency plans. These measures aim to protect user assets, ensure service continuity, and maintain trust during one of BCH’s most controversial network upgrades.
The Growing Divide: Bitcoin ABC vs. Bitcoin SV
At the heart of the upcoming hard fork lies a philosophical and technical rift between two core development groups. The Bitcoin ABC team, led by Amaury Séchet, advocates for protocol changes that align with a vision of BCH as a peer-to-peer electronic cash system. In contrast, the Bitcoin SV (Satoshi Vision) camp, backed by Craig Wright and Calvin Ayre, seeks to restore what they believe are the original design principles of Bitcoin as described in Satoshi Nakamoto’s whitepaper.
This ideological split has translated into competing software implementations, each with its own set of consensus rules. If neither chain gains overwhelming hash power dominance, both could persist—leading to two separate BCH-based cryptocurrencies post-fork.
👉 Discover how leading platforms are preparing for blockchain splits and safeguarding digital assets.
Exchange Responses: Binance and Coinbase Take a Stand
On November 2, 2018, Binance announced its support for the upcoming Bitcoin Cash hard fork. The exchange confirmed it would follow the Bitcoin ABC client’s upgrade path and take a snapshot of all BCH balances at UNIX time 1542300000 (November 15, 2018, 4:40 PM UTC).
To ensure network stability during the transition:
- BCH deposits and withdrawals were suspended starting 3:00 PM UTC on fork day.
- Trading remained active until shortly before the split.
- Post-fork, Binance committed to issuing a follow-up announcement detailing asset distribution and listing decisions.
Binance also directed users to the official Bitcoin ABC 2018 upgrade GitHub repository for technical details, reinforcing transparency and alignment with open-source development practices.
Twelve hours later, Coinbase echoed similar assurances. The San Francisco-based platform declared readiness to support the roadmap published on Bitcoincash.org, which corresponds to the Bitcoin ABC implementation.
Key actions from Coinbase included:
- Pausing BCH trading approximately one hour before the fork.
- Guaranteeing user funds would remain secure regardless of network outcomes.
- Commitment to support multiple chains if more than one proves viable post-split.
This dual endorsement from two of the world’s largest exchanges signaled strong institutional backing for the Bitcoin ABC chain—though not without controversy among supporters of alternative visions.
Mid-Tier Platforms Align: Poloniex and KuCoin
On November 5, Poloniex, owned by Circle Financial, confirmed its support for the November 15 hard fork. The exchange outlined a structured approach:
- A balance snapshot prior to the fork event.
- Temporary suspension of BCH trading during network instability.
- Resumption of deposits and withdrawals once network conditions stabilize.
Poloniex also recommended users consult the Bitcoin ABC development team’s public roadmap for clarity on protocol changes.
Similarly, KuCoin announced support for the Bitcoin ABC upgrade path. The exchange planned to:
- Suspend BCH deposits and withdrawals at 23:00 UTC+8 on November 15.
- Conduct balance snapshots ahead of the fork.
- Monitor chain stability before reactivating services.
These coordinated efforts across major platforms helped reduce user anxiety and provided a framework for handling future blockchain splits.
Wallet Providers Step Up: Trezor, Cointext, Centbee & Cashpay
Hardware wallet provider Trezor took an active stance by announcing it would run the Bitcoin ABC client on its backend servers. However, Trezor emphasized that this decision did not imply endorsement of one faction over another.
Crucially, Trezor warned users about the lack of double-spend protection during the fork window. To mitigate risks:
- Users were advised to manually manage their coins across potential chains.
- Integration with Electron Cash, a wallet supporting multiple BCH forks, was highlighted as a flexible solution.
Cointext, a mobile wallet provider leveraging SMS-based access, confirmed it would continue operating across both Bitcoin ABC and Bitcoin Unlimited nodes. By broadcasting transactions to all compliant networks, Cointext ensured maximum inclusion across emerging chains.
In contrast, Centbee and Cashpay Solutions openly aligned with the Bitcoin SV camp. Centbee stated that since users retain control of their private keys, they would be unaffected by network-level changes. The company expressed support for “all efforts promoting stability within the BCH community,” while operating SV-compatible infrastructure.
Cashpay Solutions similarly signaled SV support—though without an official public statement—according to data from monitoring site Coin Dance.
👉 Learn how multi-chain compatibility is becoming essential in modern crypto wallet design.
Industry-Wide Preparedness and Best Practices
As more service providers release their strategies, a pattern emerges: preparedness hinges on three pillars—user protection, technical readiness, and transparency.
Ryan X Charles, developer behind Yours.org and Money Button, reinforced this in a widely shared video analysis. He urged infrastructure providers to:
- Prepare for chain splits by supporting both resulting networks.
- Enable users to access funds on all valid chains.
- Avoid premature declarations of “winner” chains until market dynamics clarify.
His message resonated across the ecosystem: neutrality and flexibility are critical during contentious upgrades.
Core Keywords
Bitcoin Cash hard fork, BCH network split, Bitcoin ABC vs Bitcoin SV, cryptocurrency exchange contingency plans, blockchain upgrade 2018, hard fork safety measures, multi-chain wallet support
Frequently Asked Questions (FAQ)
Q: What is a hard fork in cryptocurrency?
A: A hard fork is a permanent divergence in a blockchain’s protocol that creates two separate chains—one following the old rules and one under new consensus rules. It often results in two distinct cryptocurrencies.
Q: Will I lose my Bitcoin Cash during the fork?
A: No—if your exchange or wallet supports both chains, you’ll retain access to your funds on each resulting network. Most major platforms took snapshots to ensure fair distribution.
Q: How do exchanges decide which chain to support?
A: Exchanges evaluate technical merit, community adoption, developer activity, and market demand. Many chose Bitcoin ABC due to broader ecosystem backing.
Q: Can I claim coins on both chains after the split?
A: Yes, if you hold private keys or use a non-custodial wallet. On centralized exchanges, availability depends on whether they list both resulting assets.
Q: Why did some companies support Bitcoin SV instead of ABC?
A: Some believed Bitcoin SV better preserved Satoshi Nakamoto’s original vision. Others aligned based on business relationships or long-term scalability arguments.
Q: What should users do during a hard fork?
A: Avoid trading or transferring BCH around the fork time. Wait for official announcements from your service provider before taking action.
The November 2018 Bitcoin Cash hard fork marked a defining moment for decentralized governance and infrastructure resilience. While tensions ran high, the coordinated response from exchanges and wallet providers demonstrated maturity within the crypto ecosystem.
As blockchain networks evolve, such events underscore the importance of proactive planning, neutral tooling, and user empowerment. Whether supporting ABC, SV, or both, the priority remains clear: safeguarding digital ownership in an increasingly complex landscape.
👉 Stay ahead of blockchain upgrades with real-time insights from a global crypto platform.