On the 5th of August 2021, at a block height of 12,965,000 or at approximately 05:25 PM IST the Ethereum (ETH) blockchain has been scheduled to undergo the upcoming London Hard Fork.
Here are all the important details that PocketBits users must know for the upcoming hard fork:
- Trading will NOT be affected during this period. Please ensure that you take sufficient risk measures while planning your trades. Volatility is often high at the time of notable hard forks.
- All Deposits and Withdrawals for ETH & ERC-20 tokens would be temporarily paused from 05th August 02:00 PM; until the hard fork is completed and the network is deemed stable.
- The hard fork does NOT guarantee a chain split and there could be two possible outcomes:
1. There would be NO chain split and NO new token created. Deposits and withdrawals for ETH and all ERC-20 tokens would resume once the network is deemed stable.
2. There is a chain split, resulting in a new token being created. PocketBits would then credit all users with the new token in the ratio 1:1; based on the ETH user balance snapshot that would be captured at the time of the Hard fork. More details on the distribution would be announced in case this event occurs.