Bitcoin exchanges unveil hard fork contingency plan, will list Bitcoin Unlimited as altcoin

posted over 1 year ago
A group of nearly 20 exchanges has released contingency plans in the event that the bitcoin network splits in two, creating two competing currencies.

The exchanges are now planning to list Bitcoin Unlimited (BU) as they would an alternative cryptocurrency, according to the statement. BU is an alternate implementation of the bitcoin software that seeks to expand the block size in an effort to scale the network's capacity.

According to the statement – backed by Bitfinex, Bitstamp, BTCC, Bitso, Bitsquare, Bitonic, Bitbank, Coinfloor, Coincheck, itBit, QuadrigaCX, Bitt, Bittrex, Kraken, Ripio, ShapeShift, The Rock Trading and Zaif – the exchanges would list the BU asset under the BTU or XBU tickers in the event of a network split, which they collectively say "may be inevitable".

Other exchanges, though not listed as signatories, are said to be planning similar steps but have not signed on to this particular statement.

The exchanges have positioned the policy choices as practical rather than political in nature. To the group, the strategy provides a means to organize a steady-handed market transition, one in which two currencies emerge that share twin transaction histories – and in which bitcoin holders are suddenly in possession of twice the amount of coins they had before.
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