As more Bitcoin hard forks arise recently, many users have required us to publish a policy on a recent chain split coin (such as BTG) and the chain split coins that are going to appear (such as BCD, etc.).
Here is our policy:
1. Huobi.pro believes that hard fork results from the ecological freedom and decentralization of blockchain. We support forks that are based on integrated and creative blockchain but we do not encourage random forks or premining with no creation or improvement of blockchain because they do not bring us value and may lead to splintered community, messy industry and customer confusion.
2. As an exchange, Huobi.pro is protecting every asset that users have and deserve to have. From a neutral perspective and in order to protect users’ assets, Huobi.pro will support distribution and exchange of successful chain slipt assets. To differentiate from other digital assets, Huobi.pro will set up a special exchange zone for trading chain split coins. As for creative hard forks, Huobi.pro will support in a more comprehensive way.
3. Huobi.pro will support hard forks that meet the following requirements:
(1) Hard fork program team must inform Huobi.pro in advance and receive a clear response from Huobi.pro. In order to reduce the negative effects that forks cause to the community, we refuse unexpected forks.
(2) Strong two way transaction replay protection, which is enabled by default. This protection is able to make exchanges on one chain invalid on the other chains.
(3) A clean break, such that the new chain cannot be “wiped out” by the original chain.
(4) A modification to the block format, such that all wallets (including light clients) are required to upgrade to follow the hardforked chain.
(5) Launch official client software before the hard fork is activated. Also, client software needs to pass open beta test and assessment.
4. Huobi.pro will try not to suspend bitcoin deposit and withdrawal service before hard forks. We will update you via announcement before each hard fork and take a snapshot at the time of hard fork block height.
Bitcoin Gold (BTG, https://bitcoingold.org/): Huobi.pro took the snapshot at block height 491407 (9:20, October 24, 2017, GMT+8). We will deliver BTG to corresponding users’accounts and launch BTG/BTC trading later.
Bitcoin Diamond (BCD, http://www.btcd.io/): Huobi.pro will take the snapshot at block height 495866 (estimated November 24, 2017, GMT+8). We will launch BCD/BTC trading. Specific timing will be updated via our announcement.
Other chain split coins will also be processed as the above principles.
Again, we discourage any random forks or premining. It’s irresponsible behaviors for bitcoin community and industry. The prices of chain split coins are extremely unstable. We hope that users can have a full understanding of the investment risks of chain split coins and be prudent of your own investment decisions.
Last but not least, Huobi.pro takes users’ benefits as the priority and always provides users with secure and trusted service. We make every effort to protect your assets.
November 22, 2017