Dear Valued Customers:
The hard fork proposed by the Bitcoin Diamond (“BCD”) is expected to occur at the block height of 495866 (Beijing Time – Nov 24 2017). OKCoin, as a company dedicated to promote Bitcoin application, would continue to strive for providing the best services to our customers. Therefore, we have decided to conduct an asset snapshot before the hard fork and would then make a reasonable attempt to credit our users BCD subjected to our review on network status and BCD codes.
Full details of the policies are as follow:
1. OKCoin will cease trading for 10 minutes prior to reaching the block height of 495866 in order to carry out the snapshot of the number of BTC in your spot account. Any BTC added (to your account) after the snapshot would not be considered.
2. BCD will not be granted to the borrower and money lender of finance (equity) trading. We would highly recommend you to settle your account prior to the fork if you would like to be qualified for obtaining the BCD.
3. If the BCD hard fork goes well and deemed to be safe, we will credit you the BCD at a specific time. At that time, you can receive the BCD in 10 times the number of BTC you have in your OKCoin accounts and you would receive them via your OKEx spot account.
4. When the block reached the height of 495850, we would suspend all the withdrawal and deposit of Bitcoin. In order to facilitate your trading, we highly suggest you to deposit bitcoin in advance, in case of unexpected market situation. Anyhow, we would do our best to help all the users with any technical problems arise from the fork.
BCD is a new digital currency which is produced during the Bitcoin hard fork. Its main characteristics are:
- Privacy protection: BCD contains the transfer encryption function, so as to protect the participants' privacy during the transaction, and make the whole transaction ecology more secured
- Improve on transaction speed: BCD improves unit block size and supports each block size as a dynamic value, and handles all transactions in each block more flexibly. In addition, the block speed is increased by 5 times, and the ultimate purpose is to improve the speed of transactional confirmation in the entire chain
- Lower transfer fees and user participation threshold: the total number of BCD is 10 times of the number of BTC, which significantly reduces the user's cost and threshold, which allows more users to participate in the BCD activities.
As always, OKCoin is committed to do better than our best to serve you.
November 22, 2017