Dear OKCoin users:
Ever since SegWit was activated on the Bitcoin Blockchain, the developer community has been constantly debating on how to scale this controversial cryptocurrency. Some believe that the block size should remain at 1M and scaling could be achieved by technology such as the lightning network. However, others are convinced that the best scaling solution is to increase the block size to 2M; also known as SegWit2x. Therefore, there is a chance that Bitcoin will experience yet another hardfork this year. If this is the case, then the fork is expected to occur on block 494784.
OKCoin would like to take this opportunity to reiterate that: as a company dedicated to promote Bitcoin application, we strive to provide the best services to our customers. Therefore, we will support all major Bitcoin technical development roadmaps and respect our customers’ individual desire.
OKCoin will follow the below protocol regarding the potential hardfork:
1. OKCoin will suspend all Bitcoin deposit and withdrawal during the predicted time of the potential hardfork in order to prevent Replay Attacks and other malicious activities. For your convenience we suggest our users to deposit or withdraw their Bitcoins well ahead of time.
2. For any users with BTC in their spot trading account before the hardfork, an equivalent amount of split chain tokens will be assigned once the hardfork occurred and the blockchain network is stable. The detailed time of token assignment and method will be announced at a later time.
3. If the hardfork doesn’t occur, OKCoin will resume BTC deposit and withdrawal once the network is stable.
October 17, 2017