We recently announced that we are actively monitoring the possible Bitcoin fork, or coin split, and its impact on the Storj ecosystem. We have reached the point where it is necessary to temporarily disabled the SJCX to STORJ converter. This change will go in effect tonight, July 31st between 11pm and midnight EDT. We are taking this action to ensure the safety of users’ funds during conversion, as SJCX is a Counterparty token running on the Bitcoin blockchain.
On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, may create a fork in the Bitcoin network. This means that after August 1st, 2017 at 8:20 am EDT there could be two versions of the Bitcoin blockchain and two separate digital currencies. In the event of a coin split, Counterparty will only continue to support one side of this fork as they will continue to run on the Bitcoin core blockchain (BTC) not Bitcoin Cash (BCH).
The converter application will be brought back online when we make the determination that it safe to do so, and there is no further risk of loss of users’ funds.
Note: If you already had an SJCX transaction in progress at the time this blog post was published, the converter app will still process your conversion, provided that the transaction completes at least 6 confirmations before the expected time of the coin split. Please direct any support questions you may have to [email protected] so we can best assist you.