A new cryptocurrency called bitcoin gold (BTG) is officially separated from the bitcoin blockchain this morning – and the project's website has since been attacked by denial of service.
Aiming to be a more egalitarian derivative of the popular cryptocurrency, able to be exploited with less specialized equipment, the first stage of the roadmap of the Bitcoin or gold consisted of taking a "snapshot". blockchain as a way to create a replica with new rules. As detailed in the CoinDesk Explainer, BTG now plans to distribute free cryptocurrency so that it is available to anyone holding a bitcoin at the time of the fork.
Shortly after the beginning of this process, the team of developers began to report problems:
"Massive DDoS attack on our cloud site: 10M requests per minute We work with suppliers to ban all IP addresses We'll be up soon!"
But hours later, it seems that the site is still bombed, preventing those who wish to follow the progress of the cryptocurrency. To complicate matters, the new blockchain is not yet public, and block explorers or other common tracking tools have not yet been made public.
Yet, denial of service attacks are commonplace in launching crypto-currency projects, especially those that are controversial or divisors, and the bitcoin meets that definition. Behind the project is Hong Kong-based LightningAsic CEO Jack Liao, who is openly criticizing Bitcoin mining in its current form and the companies that profit from it.
It is likely that his opinions could make gold bitcoin a target for attacks, but as well as this point of contention, the project was the cause of some other criticism.
Namely, BTG uses a process whereby cryptocurrency will be created privately before it is opened to the public. This process has been the cause of a volatile discussion about development channels, and has caused some to be wary of cryptocurrency.
There are some other sources of indignation – including that bitcoin gold has not yet solved the risk of "replay" – which refers to transaction complications that may arise when two incompatible versions of the bitcoin blockchain are unable to stand out.
That being said, the cryptocurrency is still under development, and there has not yet been an official word of the project about the cause of the breakdown.
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