Hong Kong-based BitMEX exchange announced new crypto instrument.
The research business of BitMEX exchange, BitMEX Research, is developing a new solution that is believed to be useful and find application in the cryptocurrency segment. The project called ForkMonitor is a website "for monitoring the situation during network upgrades (softforks or hardforks), as well as being potentially useful in helping to detect unintentional consensus bugs," as the company statement reads.
Notably, Bitcoin Cash hardfork is about to take place in the middle of November. In this context, this instrument can be highly useful since the upcoming hardfork rises many doubts in the market and ForkMonitor may help to monitor real-time events.
Moreover, the company even noted that their project will be aimed at this hardfork initially, but then the website will switch to Bitcoin.
The company press release stated:
"The website is primarily geared towards Bitcoin Cash, running 8 Bitcoin Cash nodes compared to 5 Bitcoin nodes. The reason for this is the upcoming Bitcoin Cash hardfork, where several different nodes appear designed to follow different chains."
The upcoming hardfork can reportedly get support from such big players in the crypto sector as Binance, OKEx, Poloniex and Coinbase exchanges.