Meet Bitcoin Gold: The Latest Fork of the Bitcoin Blockchain

Bitcoin may exist the best-known and well-nigh widely-used cryptocurrency in the earth, simply it isn't immune to the aforementioned problems and disagreements among its developers as the remainder of the lot. Over the years, the Bitcoin blockchain has undergone multiple forks, with Bitcoin Cash, launched earlier this year, being the about notable one. Now withal another fork of the Bitcoin blockchain has officially gone live, with the creation of Bitcoin Gold. While Bitcoin Cash offers on-chain scaling solution to the problem of tiresome transactions by increasing Bitcoin's arbitrary 1MB block-size limit, Bitcoin Aureate is an attempt to counter the increasing centralization of Bitcoin mining by blocking the use of specialized chips for mining.

While Bitcoin Gold launched only over the weekend, the official fork actually went through on October 25th when Bitcoin cake 491406 was mined. If you owned Bitcoins at that point, you'll will be eligible to receive an equivalent corporeality of Bitcoin Gold attributed to your individual keys that yous can and so import into a dedicated Bitcoin Golden wallet. If you're looking to get into Bitcoin Gold mining, be advised that only subsequently the commencement 8000 blocks are privately mined past the Bitcoin Gilded development team (starting with block 491407), volition others exist immune to mine the money. Those initial blocks are expected to fetch rewards of 100,000 BTG, which volition fund project evolution going forrad.

Although based on the same original platform, Bitcoin and Bitcoin Aureate, as expected, will have a few significant differences, the nigh notable amid which is a new proof-of-work mining algorithm. Instead of SHA256 used by Bitcoin, the new coin uses the 'Equihash' proof-of-piece of work part in an try to reduce the dominance of specialized ASIC hardware in Bitcoin'south mining ecosystem. Several exchanges have already confirmed their support for Bitcoin Gold, including major players like Bitfinex, OKex and HitBTC. BTG is currently trading at around $237 in the global markets, which is a fall of over 50% from its peak of around $520.

Source: https://beebom.com/bitcoin-gold-latest-fork-bitcoin-blockchain/

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