TradeBlock, a provider of enterprise-grade tools for blockchain assets today informed regarding the near future of its Bitcoin Cash index. TradeBlock announced that once the protocol upgrade is established, TradeBlock’s BCX index will continue to track the BCH token, which in the case of the following exchange constituents, will represent the Bitcoin ABC implementation: Coinbase Pro, Kraken, Bittrex, and Bitstamp.
Poloniex will no longer support the BCH designation once the upgrade is established, but will support two different token designations, BCHABC and BCHSV. TradeBlock’s BCX index will de-weight Poloniex’s prices for the first 24 hours after the fork is established to allow for stability as Poloniex transitions from BCH to the new designations.
After 24 hours have passed, the BCX index will then incorporate Poloniex’s BCHABC pricing data.
The Bitcoin Cash network (BCH) regularly hard forks twice a year as part of a scheduled series of updates. The next hard fork is scheduled for Thursday, November 15, 2018. Unlike previous updates, the hard fork scheduled for tomorrow may result in two competing chains, Bitcoin ABC and Bitcoin SV. Bitcoin ABC follows the Bitcoin Cash roadmap that is published by bitcoincash.org. Bitcoin SV will incorporate upgrades put forth by nChain.
TradeBlock’s BCX index is a reliable reference rate for the spot price of BCH and has been live since the index was launched earlier this year. BCX values are calculated every second by dynamically adjusting the price weighting of every index exchange constituent based on real-time and historical trading volume, price deviation in relation to other constituents, and trading activity.