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Almost R$ 2 thousand in cryptomoedas will be distributed in a trading dispute with altcoin.

The NovaDAX exchange plans to distribute around R$ 2 thousand in prizes in cryptomoedas during a competition for traders in Brazil. In this case, the dispute will involve negotiations with Bitcoin Cash (BCH), which may suffer a hard fork next Sunday (15).

According to the platform, the competition for trading with Profit Revolution will start on Thursday (12) and will end on November 22, 2020. In case the hard fork of cryptomoeda results in „competing chains, NovaDAX will credit the users with BCH of the network with more supports“.

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Thus, NovaDAX will have a competition for traders at the same time that Bitcoin Cash hard fork can happen. According to the contest rules, the first place winner will receive a prize of R$ 800 in cryptomoedas.

Competition for traders

The twelve-day competition for NovaDAX traders will allow exchange clients to compete for R$ 1,980 in BCH. The more the participant trades Bitcoin Cash on the platform, the more chances he has of winning some prize in cryptomoedas.

This way, ten users of the cryptomoedas brokerage will be awarded with the traders competition. The ranking will be composed according to the trading volume in BCH of each participant of the promotion at the end of the competition, just after November 22nd.

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Two cryptomaps

The NovaDAX competition aims to make users aware of the important moment experienced by Bitcoin Cash (BCH), which will face a hard fork in the coming days.

With the hard fork, two new cryptomaps may emerge according to the changes presented by the BCH community. As with altcoin previously, a new cryptomeda can be created, but will not prevent the competition for NovaDAX traders.

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According to the exchange that operates in Brazil, the two chains that emerge from Bitcoin Cash should be integrated by NovaDAX. In relation to the trading dispute, the platform will offer the award in cryptomoedas for the network with more support, in addition to delivering a proportional prize also for the other competing chain that emerges from the hard fork.

„If the hard fork results in two competing chains, NovaDAX will credit users with BCH from the network with more support. In the sequence, users with the currency of the minority chain will also be credited in the proportion of 1:1 based on the instant balance in BCH on 15/11/2020“.

Bitcoin Cash (BCH) Hard fork

The Bitcoin Cash hard fork is scheduled to take place next Sunday (15) and represents a values dispute in the altcoin community. Thus, exchanges like NovaDAX are preparing to integrate the cryptomoedas that may arise with the change in the network.

According to NovaDAX CEO Beibei Liu, it is important for cryptomoks to be updated through community imposed changes. Liu confirms that the Brazilian exchange will support Bitcoin Cash (BCH) hard fork and is preparing to offer another cryptomoeda, if created.

„Blockchain and cryptoactives are part of living ecosystems and depend on the constant updating and evolution of their technologies. NovaDAX understands the importance of this movement and is fully prepared for the hard fork of the BCH. In case a new currency is created, our team of specialists is fully prepared to manage this process effectively and our clients will have all the necessary support, without risk of suffering any loss“.