Poloniex is issuing BCC on 14th August and will now support BCC
Aug 13, 2017 Posted / 2808 Views
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The Poloniex exchange platform team was not at all sure about whether they will support Bitcoin Cash or not. They Poloniex team in the recent update stated that even if two workable blockchains come together, they may or may not support both of them and will only make decisions only after they are satisfied with the fact that they can support without any risks, either of the blockchain in the Enterprise environment. If they decide to support and make available the derived blockchain tokens after a blockchain split, the point to be noted is that if people have the tokens on loan at the time of a split, they can not distribute the derived blockchain tokens, the lender as well, as people would not possess them. Such tokens which are loaned can, and many a times do leave their platform. They suggested people to withdraw their Bitcoins if they do not want to leave the decision to their them.
The thing to be wondered is that Poloniex is such a platform which enlists many coins which one has never even heard of, that is the reason people were amazed about their decision to not support BCC. In a press release on their website it is stated that this unsurity of decision regarding to support any derived coin is to ensure safety of their network operations and safety of their user's tokens. They stated that they will be crediting users having coinin their account balance at the time of forking, which can happen on or before 14th August 2017. Still they stated that they were not determined to enlist or start amnd provide platform for any derived coin after the fork or support any withdrawals. This made sure that they were not ready to commit on any kind of trade regarding BCC. Their decision was depended on the network stability which will assure safety for the token users and keep away all the risks. It decided to not to take any firm stance on the Bitcoin fork because it was very unclear how the newly forked BCC will appeal to the market, will it be stable and secure. And it as per their aspect to make sure whether the market will be stable or no for BCC, they surely made their point very clear.
After much vagueness to their decision, finally Poloniex has decided to issue the BCC on 14th of August 2017 to the users. It will also start supporting the BCC on their platform. The official statement from Poloniex is yet be released on this matter, but it seems like that the reason for poloniex accepting, supporing and issuing the BCC can be the network stability which has been quite good for BCC in few days, after the forking. Many users had also urged the platform to issue BCC as soon as possible and demanded to support BCC on their platform. Seems, like with such demands from the mass, and new found nnetwork stability in BCC, Poloniex has finally agreed to support BCC.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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