ANON Fork for Bitcoin (BTC), ZClassic (ZCL) Scheduled for September 10

Owners of Bitcoin (BTC) and ZClassic (ZCL) will receive yet another new digital asset, ANON. The fork had a tentative date of September 9 but might actually happen on September 10 or 11, depending on sources.

According to ANON’s Twitter post, the snapshot is scheduled for September 10, while Cryptopia, which is ahead in the time zones in New Zealand, lists the date as September 11 and the hour as 1 AM UTC. TradeSatoshi, another small exchange, will have the snapshot on September 10 as well. Other exchanges have not stated their readiness to support the fork.

https://twitter.com/ANON_WeAreANON/status/1036846057387380736

The Bittrex exchange has denied support for the fork and even the distribution of balances. In general, owners of ZCL are more interested in ANON, while BTC owners, especially those holding significant funds, may not risk them for a low-value, new asset. In the past, BTC forks have often arrived with fake wallets attempting to steal the original coin balance. The ANON wallets are still untested and may be vulnerable to potential risks.

https://twitter.com/David08255938/status/1033230212018987008

This time, however, the forthcoming snapshot and balance distribution are still not providing 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.

Curiously, the ANON hard fork announced exchange listings even before the actual digital asset was created. The fork has been running a testnet since August 10 and announced upcoming listings on TradeSatoshi and Cryptopia.

The ANON hard fork offers features somewhat similar to BTCP but with an added masternode layer that requires 500 ANON to run.

The refusal of Bittrex to participate has forced traders to move balances from Bittrex to Cryptopia. Reddit users have vague expectations that Bittrex may support the fork at the last minute, but the probability is low. Moving ZCL between exchanges remains risky and slow, and Bittrex has been known to require up to 500 confirmations to update a trader’s exchange wallet. The reason for the high number of confirmations is the probability of a 51% attack and double-spending by sending coins to an exchange.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.