Ledger Wallet May Pause Bitcoin Cash Services on November 15

Ledger Wallet

Ledger Wallet May Pause Bitcoin Cash Services on November 15

The latest report reveals that Ledger, the hardware wallet manufacturer from France plans for to pause its BCH service for upcoming Bitcoin cash hard fork. The hard fork is scheduled for November 15 hence no BCH service will be processed.

BCH service Paused Untill November 15

The news first broke out on October 30, 2018, when its official addresses hard fork discussion to their customer base. The discussion reveals that the BCH service will be paused until a dominant chain reinstates BCH services.

Depending on the outcome of the fork, we will communicate about our next move when we have a clear vision of its result — Be advised that during this service disruption, your Bitcoin Cash private keys will remain secured.

There seems two disagreeing development teams, Bitcoin ABC and Bitcoin SV that shows high potential for a chain split. By pausing its wallet service for BCH for 15 days, Ledger wants to ensure the chains will be the stable one, both economically and technically. On top of all, it aims at preventing unwanted transactions that may happen from replay attacks. During this period, replay attach could result in fund loss and other issues.

Now when finally the announcement of pausing wallet service released, both development teams have not reached consensus and have not added replay protection. It’s quite clear that both teams may continue without adding the protocol. This might result in hash war and both chains will be in an exact reflection of each other. This is because Bitcoin cash uses Unspent transaction outputs (UTXO) and after the split, if a person sends transactions, UTXO depends on both networks. Consequently, this results in possible loss of funds.

Coinex and Bitasiaex Supports BCH Fork 

Coinex and Bitasiaex crypto exchanges are the latest players in the circle with the ledger wallet and informing their customers on how they will deal with the fork. Moreover, Ledgerwallet’s users will get an update about resuming the service on its official status page.

What’s your view on upcoming BCH fork? Let us know

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Ledger Wallet May Pause Bitcoin Cash Services on November 15
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Ledger Wallet May Pause Bitcoin Cash Services on November 15
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The latest report reveals that Ledger, the hardware wallet manufacturer from France plans for to pause its BCH service for upcoming Bitcoin cash hard fork. The hard fork is scheduled for November 15 hence no BCH service will be processed.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Reach out to her at [email protected]