CALGARY, Alberta, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Bitvo is preparing to support the upcoming Ethereum (ETH) fork, which is called the Constantinople fork. In advance of the fork, Bitvo is pleased to share information, its support plan and instructions for Bitvo customers.
This network hard fork, which is part of scheduled protocol upgrades, is scheduled to occur at block 7,080,000 and is anticipated to take place next week on January 16th, 2019. It is widely expected to be non-contentious and is not expected to create two different cryptocurrencies.
There is a corresponding mandatory upgrade for the ETH/ERC20 tokens to be valid on the ETH mainnet. The upgrade process should take a few hours, during which time all ETH deposits and withdrawals will be disabled.
Bitvo will disable ETH deposits and withdrawals commencing 12:01am ET on January 16th, 2019. Once the upgrade is complete, we will evaluate the outcome of the fork and ensure the network reaches consensus (~25 blocks are generated with the new consensus rules) before enabling deposits and withdraws.
Bitvo customers who have questions about the ETH hard fork are encouraged to contact Bitvo’s 24/7 customer support team at support@bitvo.com or 1-833-86BITVO (1 833-862-4886).
About Bitvo
Bitvo is a private company with international reach founded by experienced financial services, payment and banking entrepreneurs, that offers a state-of-the-art cryptocurrency exchange trading platform to make cryptocurrencies easier to access and more secure for its customers.
For further information, please contact:
Pamela Draper
President & CEO
403-407-0059
pam@bitvo.com
Forward-looking Statements
This press release contains forward-looking statements. The use of any of the words “will”, “should”, “expect” and similar expressions are intended to identify forward-looking statements. Bitvo is not involved in the operation of the Ethereum blockchain protocol and makes no representations regarding the operation, security or timing of the upcoming Ethereum blockchain hard fork. The forward-looking statements contained herein are based on certain key expectations and assumptions made by Bitvo. Although Bitvo believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bitvo can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated. The statements contained in this press release are made as of the date hereof and Bitvo undertakes no obligation to update publicly or revise any statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.