The Bitcoin Gold fork has been subject to a cloud of scrutiny ever since its inception. After a somewhat rocky fork, the cryptocurrency has revealed its new plans to launch a network that will address its consensus algorithm. According to the developing team, the official fork happened on the 25th of October, and the network was scheduled to launch on the 1st of November. Since the Bitcoin Gold developers failed to complete the currency’s mainnet in this time, the team announced a new launch date of the 12th of November at 2 PM EDT.
The developing team has confirmed that upon launching, there will be a full node client available for downloading which will indicate that the blockchain will be officially live. The blocks could be mined more profitably from users around the world. Additionally, all cryptocurrency service providers, including wallets and exchange platforms, will be capable of processing transactions as soon as the network is active.
The team continued to emphasize what a challenging process the development was. Moreover, they extended their gratitude towards the entire crypto community, who contributed hash power to their testnets, as well as for the community’s patience throughout the entire process.
The Bitcoin Gold team added several new protocols to their network, including the Equihash PoW change, difficulty-adjustment-algorithm (DAA), Replay Protection, as well as an entirely new address format. During their statement, the Bitcoin Gold team also expressed their gratitude towards all the various service providers who were instrumental in helping the team establish the Bitcoin Gold network.
According to the team, they intend to update the cryptocurrency’s mining documentation to allow more users to mine the cryptocurrency with less cost and equipment restrictions than Bitcoin. In addition, the network will provide their service providers with technical information. The statement concluded by displaying a range of Bitcoin Gold websites claiming affiliation with the cryptocurrency, which the team succinctly denied.
Despite the optimistic email, the Bitcoin Gold team, and the fork itself, has been subject to severe criticism since its inception. Not only did the cryptocurrency’s pre-mining script attract mass scrutiny, but several cryptocurrency exchanges and wallets have noted that they would not implement support for BTG in light of the wide-spread doubts surrounding the cryptocurrency. Currently, only 10 cryptocurrency exchanges worldwide intend to add support for the network. These include Bitfinex, Htbtc, Coinnest, Binance, Yobit, and Gate.io. Currently, Bitcoin Gold futures are trading between $160 and $260 on the various trading platforms.
The developing team has confirmed that upon launching, there will be a full node client available for downloading which will indicate that the blockchain will be officially live. The blocks could be mined more profitably from users around the world. Additionally, all cryptocurrency service providers, including wallets and exchange platforms, will be capable of processing transactions as soon as the network is active.
The team continued to emphasize what a challenging process the development was. Moreover, they extended their gratitude towards the entire crypto community, who contributed hash power to their testnets, as well as for the community’s patience throughout the entire process.
The Bitcoin Gold team added several new protocols to their network, including the Equihash PoW change, difficulty-adjustment-algorithm (DAA), Replay Protection, as well as an entirely new address format. During their statement, the Bitcoin Gold team also expressed their gratitude towards all the various service providers who were instrumental in helping the team establish the Bitcoin Gold network.
According to the team, they intend to update the cryptocurrency’s mining documentation to allow more users to mine the cryptocurrency with less cost and equipment restrictions than Bitcoin. In addition, the network will provide their service providers with technical information. The statement concluded by displaying a range of Bitcoin Gold websites claiming affiliation with the cryptocurrency, which the team succinctly denied.
Despite the optimistic email, the Bitcoin Gold team, and the fork itself, has been subject to severe criticism since its inception. Not only did the cryptocurrency’s pre-mining script attract mass scrutiny, but several cryptocurrency exchanges and wallets have noted that they would not implement support for BTG in light of the wide-spread doubts surrounding the cryptocurrency. Currently, only 10 cryptocurrency exchanges worldwide intend to add support for the network. These include Bitfinex, Htbtc, Coinnest, Binance, Yobit, and Gate.io. Currently, Bitcoin Gold futures are trading between $160 and $260 on the various trading platforms.