Launch of Bitcoin Gold today
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Launch of Bitcoin Gold today
Today, Bitcoin Gold will be launched.
Bitcoin Gold, after its big brother Bitcoin Cash, which has literally blazed in recent days, is a new branch of the original Bitcoin.
Its goal: to counter the mining centralization of Bitcoin.
To achieve its goals, Bitcoin Gold will be based on a new mining algorithm, while remaining on the principle of "proof of work".
This new proof is called Equihash, and is already used with Altcoin Zcash.
This means that the ASICs used in Bitcoin mining will not work for BTG.
When was the fork of Bitcoin Gold?
Officially, the split of Bitcoin took place on October 25th, and it was on this date that the holders of BTC were allocated an equivalent amount of BTG. (This is the rule during a fork).
But it is from today that the lucky owners of these BTGs, imported to a suitable portfolio, will be able to spend their coins.
This split took place at block 491407 and it is from this block that the Blockchain of BTG begins.
The first 8000 blocks will be exploited only by the BTG team because of the mining difficulty, then anyone will be able to undermine this new currency.
This will result in a reward of 100,000 BTG for developers to get new project.
Are there replay issues with BTG?
This is a new algorithm that will adjust the difficulty of extracting each block. This algorithm is called DigiShield.
Initially there was a lot of apprehension about the replay problem. That is, it had to be ensured that when switching to the new altcoin, no user would spend BTCs instead of BTGs and vice versa.
But the developers of BTG have provided this protection against the replay, so essential to the smooth passage to the new currency.
Who is BTG supported by?
BTG will be supported by major platforms such as Bitfinex, Okex, and HitBTC.
BTC / BTG trading will be supported by the futures markets.
Since October 25, the futures are traded around 0.02 BTC, and in recent days, around 0.042 BTC.
In the long run, the BTG will be worth about 250 USD, which will make BTG a top-5 altcoin on sites such as coinmarketcap.com.
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