What's happening with Bitcoin Cash?
There’s a longstanding debate within the Bitcoin Cash (BCH) community about the future of BCH. A proposed change to the Bitcoin Cash ABC protocol is scheduled to be implemented on Nov 15th 2020, which will most likely result in a contentious hard fork.
A hard fork affecting BCH could result in a split into two separate blockchains: Bitcoin ABC (BCHA) and Bitcoin Cash Node (BCHN).
What is a hard fork?
Crypto networks rely on participants reaching consensus on the network rules. When a large enough group of network participants do not agree with the current set of rules, they can decide to create their own network by “forking”.
In case of a hard fork, all nodes meant to work in accordance with the new rules need to upgrade their software. If one group of nodes continues to use the old software while the other nodes use the new software, a permanent split can occur.
How will this affect Webull crypto trading clients and their BCH holdings?
Due to network instability during the hard folk, Trading in BCH (Bitcoin Cash) is currently halted. We will closely monitor the network and will re-enable trading when we are confident that the network is stabilized.
Any positions of BCH in your Webull account will remain safely in your account throughout the fork.