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Developers of Bitcoin Gold prepare the cryptocurrency network for its official launch.
As NCC reported, bitcoin gold (BTG) is an altcoin that will be created by a fork of the main bitcoin blockchain. Therefore, as bitcoin cash, it will have a bitcoin history shared with bitcoin up to the range. This split took place on Oct. 24, when bitcoin gold developers took a "snapshot" blockchain from the bitcoin network, meaning that all those who held bitcoin balances at that time will receive an equal number of coins. Gold bitcoin
However, the Bitcoin Gold Network was yet to be launched in the following weeks, as developers continued to tinker with the source code by putting in place a protection against repetition, as well as a new consensus algorithm who resists use. specialized computer chips for mining. The developers have also created about 100,000 pieces that they believe will be used to fund the growth and development of the bitcoin gold ecosystem.
As this process is almost over, the developers announce that the official network will be launched on November 12 at 19:00 UTC. In response to this announcement, the price of gold bitcoin futures increased by 31% from $ 140 to $ 185
Source: CoinMarketCap
However, it remains to be seen whether this latest bitcoin fork will provide sufficient support from users, miners and services to remain viable in the long run. Bitcoin Cash has managed to assemble this infrastructure, but some analysts believe that investors and traders will experience "fork fatigue" while subsequent altcoins move away from the main blockchain.
Others fear that these forks, retaining the bitcoin nickname, make the ecosystem even more confusing for new users than it already is and could discredit it. assertion that bitcoin is really a rare commodity.
"These forks are very bad for bitcoin," said Sol Lederer, blockchain director at the start of Loomia technology. "Saturating the market with different versions of bitcoin is confusing for users, and discredits the assertion that there is a limited number of bitcoins – since you can still cram it and double the offer."
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