Leading digital currency exchanges are announcing their measures to prepare for the upcoming Bitcoin User Activated Soft Fork (UASF).

To be activated on 01 August 2017, the UASF seeks to address scaling issues currently being faced by the Bitcoin network by accelerating the adoption of Segregated Witness.

OKEx, a digital asset trading platform launched by OKCoin.com, has announced that it will suspend bitcoin deposits and withdrawals due to potential risks that could result from the fork. It said:

“During the potential fork, from 2017-07-31 to 2017-08-02, we will suspend Bitcoin deposits and withdrawals due to potential technical risks such as replay attacks and other issues that may cause network instability. We will further advise on specific timing but we advise that you deposit Bitcoin in advance in order to not affect your trading.

“If there is no fork, and the network is stable, we will resume Bitcoin deposits and withdrawals.”

In an official statement, GDAX explained that UASF activation could create two blockchains, which could either result into one dormant blockchain or two co-existing and independent blockchains. The exchange said that in either case, it will implement safeguards to ensure the safety of its customers’ funds.

OKEx has clarified that if the activation splits the bitcoin blockchain, it will give every user their rightful ownership of their Bitcoin for every blockchain. In its official blog post, the exchange said:

“If Bitcoin is split into several blockchains, OKEx will for every blockchain give users their rightful ownership of their Bitcoin. In addition, OKEx will take steps to support trading for every type of Bitcoin. On OKEx contracts trading, for existing undelivered maturities, the calculation of the Index price will be the sum price of all Bitcoin types of the respective exchanges should they support them. After delivery, new OKEx contracts will be tied to a particular version of Bitcoin, and OKEx will take steps to support contract trading for all types of Bitcoin. For undelivered maturities, post the splitting of Bitcoin, when adding margin funds, all types of Bitcoin will be required.”

Furthermore, OKEx stated that it may also temporarily suspend trading if unexpected events occur during the potential Bitcoin fork period. It may also resort to suspension or roll back of trades, in the case of market manipulation during this period.

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