ANON Fork for Bitcoin, ZClassic Scheduled for September 10 or 11

by | Sep 5, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

ANON Fork | Anonymous Bitcoin | Bitcoin | ZClassic

ANON, the fork for Bitcoin (BTC) and ZClassic (ZCL) was tentatively scheduled for September 9, but it will in most likeness release on September 10 or 11, depending on sources.

According to the Twitter post on ANON’s page, the snapshot is scheduled for September 10. While TradeSatoshi will have the snapshot on September 10 itself, Cryptopia lists the date as September 11 and the hour as 1 AM UTC. Notably, other exchanges do not seem too keen on supporting the fork. The Bittrex exchange has denied support for the fork and even the distribution of balances.

Owners of ZCL more interested that BTC owners

While ZCL owners might be inclined to ANON, owners of Bitcoin, especially the ones who hold significant funds may not risk their assets for a low-value, new asset. With good reason to back up their apprehension as BTC forks have often arrived with fake wallets attempting to steal the original coin balance, in the past.  Still untested, the ANON wallets might be vulnerable to potential risks.

The announcement of a fork usually spikes the price of the Token, however, this time around the upcoming snapshot and balance distribution isn’t enabling the expected boost to ZCL market prices. The last few times, ZCL spiked before a fork, most notably before the Bitcoin Private (BTCP) fork.

ZCL managed to rise from recent lows of $6.12 on August 30 to as high as $8.74 on September 2. The coin then sank to $7.88 as of 07:00 UTC on September 4. The latest fork has also failed to spur significant volume increases, indicating lower interest and slow accumulation.

Interestingly, even before the actual digital asset was created, the ANON hard fork announced its exchange listings on TradeSatoshi and Cryptopia. A testnet has been running since August 10. The ANON hard fork offers features somewhat similar to BTCP but with an added masternode layer that requires 500 ANON to run.

Bittrex refusal to participate has forced traders to move balances from Bittrex to Cryptopia. Though a slim chance, Reddit users hope Bittrex will join the wagon at the last minute. Bittrex is known to require up to 500 confirmations to update a trader’s exchange wallet and on top of it moving ZCL between exchanges is a risky and slow process. The high number of confirmations required by Bittex is to suspend the 51% attack and double-spending by sending coins to an exchange.

Read more: Bittrex To Delist Bitcoin Gold Cryptocurrency Following $18 Million Hack

 

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

Get Latest Bitcoin and Crypto News

advertisement advertisement

Get latest Bitcoin & Cryoptocurrency News

 

Subscribe to our newsletters to get latest Bitcoin and Cryptocurrency news.

Thank you !