HandCash - Official Statement About The Upcoming Protocol Upgrade
Dear HandCash users,
On November 15th, 2018, the Bitcoin Cash (BCH) network will undergo a scheduled protocol upgrade . Two different visions move forward towards global money will activate their latest protocol updates and we write to inform you how to keep your coins safe with us.
Starting on November 15th, regular BCH transactions using trusted wallets and services which remain impartial during this period, users may experience delays during this transition to the next ruleset.
Some complex transactions that include metadata used by some services may not be compatible with services and wallets depending on which node implementation they are running.
HandCash, POP! and Cashport will take a cautious approach until the next majority ruleset is clear:
- We are NOT including any incompatible code inside your transactions so all HandCash transactions will be valid through the upgrade period.
- Our products and services will point to different nodes from SV, ABC and BU to ensure all valid transactions over the network are treated as such and you don’t experience any issue during the upgrade period.
- We are giving you some safety guidelines at the end of this article to make sure that whatever happens, you have access to your money in the wallet of your choice.
Once the new majority ruleset is clear, we will make a decision on which path is the best for our project, our users and partners moving forward.
Bitcoin Cash is entering a new phase, one in which adoption is the main objective. For that, we need businesses and institutions to trust our protocol and be confident that when they are building on Bitcoin Cash, they are doing it on a solid foundation.
We as entrepreneurs don’t want to go through this process of uncertainty every six months - imagine how unattractive this would be for big businesses like Amazon or Google that plan every move 5 or 10 years ahead.
Bitcoin should be legal, sound money for the world, not an outlaw experimental playground.
The Bitcoin SV protocol gives us the best shot at becoming global money, as it is focused on stability, scalability and safety. This is a very strong value proposition and we recommend all service providers and miners to consider it for running their businesses.
- Make sure you write down and keep your mnemonic (the 12 words) in a safe place. In HandCash, it’s very easy: Tap on the burger menu icon in the home screen, go to “Backup & Recovery”, select “12 words” and “Backup”.
- Important note: make sure you type your $handle along with your 12 words, as it is linked to a footprint derived from your seed. You can find your $handle written on the green card in the home screen.
- Most exchanges will stop trading BCH during this period, so in case you have to go back to your local currency, consider do so before November 15th as the duration of this upgrading period remains unknown.
- Most services have already issued their official statements regarding the upcoming upgrade, we recommend you to read them and make your own decisions.
We appreciate the confidence you have placed in us, and rest assured that the safety of your money is always our top priority. Feel free to email us with any questions you might have to firstname.lastname@example.org - we are always at your disposal.
We would like to thank Ryan X. Charles for promoting a cautious, users-first approach.
Bitcoin Cash will only get stronger after this process, and we hope it’s the last time we go through this.
Alex Agut, CEO HandCash
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