November 13, 2018. Philippine Digital Asset Exchange (PDAX) has revealed its plans on how to proceed with the upcoming bitcoin cash (BCH) fork.
In a statement from co-founder Yang Yang Zhang, forwarded to BitPinas by chief marketing officer Krystian Kucharzyk, PDAX confirms its platform’s capability to support BCH’s split.
“..our platform is technologically robust to support the said upgrade.”
Furthermore, PDAX said it is aware of the disagreements within the BCH community and has recognized the two major groups – Bitcoin ABC and Bitcoin SV. The digital asset platform, however, said it is also recognizing the possibility of a third chain that will carry on with the set of protocols established prior to the fork.
While PDAX is not yet officially launched, it is currently in closed beta, with a number of beta-registered users testing the platform. In order to minimize any disruption, it is disabling all BCH functions on the exchange until the upgrade is complete.
“During the fork, PDAX will maintain records of the BCH balances of all its closed beta users.”
PDAX is taking an approach similar to that of Philippine-based platforms – Coins.ph, Coins Pro, and Abra. PDAX also confirms it is leaning toward supporting the ABC fork, which provides, among others – “progressive protocol upgrades and canonical protocol upgrades and canonical transaction ordering”. Even so, the platform will evaluate if there is enough support for the minority token before determining how the exchange can support it.
The particular bitcoin cash software release included upgrades that will support a system for cryptocurrency to be traded with traditional exchanges. The SV group criticized this release, claiming it is not an implementation that supports bitcoin’s original mission.
PDAX is a licensed virtual currency exchange in the Philippines. Currently in closed beta, it plans to launch before 2018 ends.