Huobi Global Reacts To Potential ETH Hard Forks

One of the top cryptocurrency exchanges in the world, Huobi Global, has been keeping an eye on the conversations surrounding the upcoming hard forks of Ethereum.

A blockchain network upgrade known as a “hard split” signifies the decentralization and expansion of the blockchain ecosystem.

Huobi Global discourages “responsible behavior”

The company described the discussions as “worthless behaviors,” further highlighting the risk of “community divergence, market confusion, and lack of understanding among users” it would cause. Based on the commitment to safeguarding users’ assets, Huobi Global adheres to neutrality and objectivity regarding spin-off assets generated from hard forks. In their recent declaration, Huobi wrote to not indulge in pre-mining and arbitrary forking.

“We respect the community consensus on the hard forks. However, we do not encourage the forks with no tangible innovation and improvement, and we oppose any form of pre-mining behaviors.”

Huobi’s requirements for distributing forked assets

Huobi further clarified the criteria for inclusion, indicating that the cryptocurrency exchange will only list forked assets if the project team notified Huobi Global and had its “clear reaction” before completing a hard fork. Due to two-way replay protection, the second forked chain is by default unable to trade with the first forked chain. The original chain was not to encircle or block the new chain, according to the conditions.

Huobi added that in order for all wallets, including lightweight nodes, to be interoperable with the new chain, trade on the two forked chains must be distinguished. According to the trading platform:

“As long as the forked assets meet our security requirements, we will take the first move to support users to hold the assets and earn rewards.”

Following a platform review of customer feedback, services for trading the currencies featured in the spotlight will soon be made available in accordance with their restrictions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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