Articles on: Cryptocurrency

What you Need to Know about the Bitcoin Cash Hard Fork

UPDATE, 11/27/18:
After a pause in service for the November 15th Bitcoin Cash hard fork, Bitcoin Cash is now available again on Purse. Purse will continue using bcash, as referenced from the Bitcoin ABC software implementation of Bitcoin Cash.

Shoppers can again choose BCH at checkout, and earners will be able to receive payouts in Bitcoin Cash also.


What's happening with Bitcoin Cash?

Purse uses a software implementation of Bitcoin Cash called bcash, which follows the reference implementation Bitcoin ABC. Bitcoin ABC scheduled a Bitcoin Cash protocol change via hard fork on November 15th.

While non-backward-compatible hard forks allow for rapid protocol innovation, they also carry a risk of creating a permanent split in a network. A split may create multiple versions of the Bitcoin Cash chain, resulting in disruptions for Bitcoin Cash payments.

What will Purse do during the hard fork?

During the upgrade, Purse will pause all BCH deposits and withdrawals, beginning on 11/15, at 8am PST. 

What will Purse do after the fork?

Purse has not made any plans to migrate away from the Bitcoin ABC reference as implemented by bcash. Once the network upgrade is complete and meets minimum security criteria, Purse will re-enable Bitcoin Cash. During this pause your funds will be safe.

Updated on: 06/01/2021

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