Coinbase Hard Fork Plan Credits 2x Coins, Shuns Bitcoin Gold
Coinbase will preserve the BTC ticker for the Bitcoin legacy chain, it says, while initially not supporting Bitcoin Gold.
Largest US exchange Coinbase has finally released its official stance on Bitcoin hard forks SegWit2x and Bitcoin Gold.
In a blog post Monday, Coinbase surprised some in the cryptocurrency community by stating it would retain the BTC ticker for the legacy chain under all circumstances.
“Following the fork, Coinbase will continue referring to the current Bitcoin Blockchain as Bitcoin (BTC) and the forked Blockchain as Bitcoin2x (B2X),” the post reads.
Update on Bitcoin Segwit2x and Bitcoin Gold: https://t.co/DkonFNn1Xy— Coinbase (@coinbase) October 23, 2017
Coinbase has taken longer than many exchanges to release its plan of action regarding hard forks, with notice being given the same day Bitcoin Gold split from BTC.
This lesser-known fork, Coinbase says, will only get support “if the Blockchain proves to be secure and valuable.”
“Information about this fork has been limited and there are concerns about its security and stability,” it continues.
“As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time.”
Bitcoin Gold (BTG) is currently listed on Coinmarketcap as a pre-release token, with an estimated value of $410 per coin at press time.
The codebase for BTG is meanwhile incomplete, with a lack of replay protection still being addressed after an open community appeal on GitHub.