Huobi Global Responds to the Approaching Hard Forks on the Ethereum Blockchain

Huobi Global Responds to the Approaching Hard Forks on the Ethereum Blockchain
Huobi Global Responds to the Approaching Hard Forks on the Ethereum Blockchain

The ongoing debates regarding the upcoming hard fork on the Ethereum (ETH) blockchain have been taken into consideration by a well-known crypto exchange called “Huobi Global.” A hard fork counts to be an upgrade on a blockchain network that signifies the development as well as the decentralization of a blockchain ecosystem.

Discussions are worthless, says Huobi Global

The exchange stated that they discourage the forks that do not provide significant improvement or innovation despite the community consensus on the hard forks. It added that the respective discussions between the community will lead to misunderstandings, industry confusion, as well as divergence among consumers. In the words of the exchange, it has a neutral position as well as objectivity when it comes to spin-off assets produced by hard forks.

Huobi, in the latest announcement, noted not to be a part of arbitrary forking as well as pre-mining. The exchange platform also brought forth the standards of inclusion, which means it will only list the disguised assets in the event of notice given by the project team to Huobi Global with its lively reaction ahead of achieving a hard fork. Due to two-way replay security, 2n.d fork chain cannot trade with 1St fork chain.

Huobi Global Places Restrictions on Listing of Forked Assets

In line with the conditions, the exclusive chain would not be blocked by the base chain. The exchange further revealed that in order to enable interoperability between the wallets, taking into account lightweight nodes, as well as the new chain, there must be a difference when it comes to chains with two forks.

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The trading place went on to say that the initiative to provide adequate assistance as well as rewards to the consumers would be taken by it until the platform’s security requirements are met by the disguised assets. After conducting a review of the feedback from the consumers, the trading services for the currencies will shortly be offered to the consumers in line with the restrictions. At the conclusion of the response, the venue reaffirmed its policy of not supporting any “irresponsible behavior”, including pre-mining and arbitrary forking, in connection with cryptocurrency transactions.

Recently in July, the leading worldwide blockchain – DeFiChain – which is focused on providing decentralized financial services and applications to everyone, formally declared that its local DFI token had been listed on Huobi Global. Trading with the respective taken started on the 25th.th July, while 26th was the date of commencement of withdrawal services.

Houbi, the prominent crypto exchange established in 2013, was offered a temporary approval on behalf of the Dubai Virtual Assets Regulatory Authority to offer services and products related to the virtual assets to professional financial service providers as well as qualified investors. The exchange allows its consumers to borrow, bet, sell and buy a wide range of crypto assets, under an all-encompassing ecosystem to facilitate experienced crypto investors and traders.

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