Bitcoin Cash and KeepKey
On August 1, 2017, a group users in the Bitcoin community plan to split the Bitcoin network. The network that they are creating is known as Bitcoin Cash or BCH. When the split happens, every bitcoin (BTC) that existed before the split will result in a new BCH coming into existence.
KeepKey will support Bitcoin Cash, assuming that the split is successful. If the BCH chain continues to have hash power and is still producing blocks 24 hours after the split, it is likely that it will continue to exist. In that case, KeepKey will move forward with the plan to fully support BCH. There are a few stages to our plan:
- Starting tonight at around 7:00 PM PDT, a message will be broadcast through our new real-time security notification system that the split is about to happen and the network may be unstable when it does. It is likely that everything will go according to plan, but there is a chance that both the BTC and BCH networks will be in a bad state. We recommend that you avoid sending or receive BTC during the hour or so immediately before the split and for a few hours after the split.
Bitcoin Cash Split Countdown Timer
- In the morning, we will assess the situation and update the security warnings to reflect the current recommendations.
- If the BCH network appears viable, we will, as quickly as possible, update our beta release to display your BCH balance for each BTC account. At this point, you won’t be able to send BCH transactions, but you will have the assurance that the BCH you get is protected by your KeepKey.
- We will continue working on the KeepKey client and device to update the beta release a second time to allow you to send BCH transactions. We will add the ability to send BCH from your BTC accounts to a BCH account or, with our ShapeShift integration to exchange the BCH to any other currency that you desire.
- Once the dust is settled and the people who use our beta release are successfully using this new functionality, we will move it to general availability.
Keep calm and hodl with KeepKey.