Ledger to Suspend Support for Bitcoin Cash (BCH)

Ledger to Suspend Support for Bitcoin Cash (BCH)

bitcoin cash

If you have been following the news as regards the current status of Bitcoin Cash (BCH) and its consensus, it should be clear by now that the Bitcoin Cash (BCH) community is yet to reach a conclusion on which fork they will be implementing uniformly across the network. It is as a result of this and several other reasons that the Ledger Nano S team has released a report making it known that the wallet will suspend support for the coin until after the hard fork on November 15, or until when the dominant fork is known.

BCH hard fork

This lack of consensus and the clear difference in choice existing between the different camps which are in support of different upgrades features has led to one conclusion, a hard fork is needed. The hard fork has been set for November 15 2018.

The two opposing factions of the community came up with different upgrade proposals— Bitcoin ABC and nChain respectively. Both factions have released their individual versions of the upgrade that is to come on the 15th of November. However, there exists a third version—Cobra Client. This was proposed by the anonymous owner of Bitcoin.org. The third proposal has been described as a compromise of the other two proposals. It has also been described as a safe and reliable implementation of the scheduled November hard fork.

Ledger to Suspend Support Till After the Hard Fork

It is as a result of this uncertainty that the Ledger hardware wallet has decided to pause support for the BCH tokens for the time being.

The Ledger Nano team made it clear that the main reason for it pushing the breaks on its support for BCH, is to avoid unwanted transactions during the hard fork. Such transactions could result in ‘replay attacks’, loss of funds and other issues with the Bitcoin Cash protocol.

The team as however not yet released an official date or time it will be doing the Hard fork. But the popular assumption is that they will do so before the time of the Hard Fork.
The team also released a statement as regards the action to be taken by current BCH holders.

The team said that:
“Should you need or wish to continue having access to your Bitcoin Cash, we would recommend moving your Bitcoin Cash to a different wallet or exchange platform that will continue supporting it during this time. Please do note that by doing so, you would be accepting the responsibility of any outcome that follows. It is equally possible that third-party wallets that already support Ledger devices may provide independent solutions as well.”