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What is bitcoin gold fork


what is bitcoin gold fork

to upgrade by way of implementing forks that could see interest in other cryptocurrencies erode. Still, with more than 16 million bitcoins in circulation, the creation of Bitcoin Gold created 4 billion in new bitcoin come funziona forum cryptocurrency valueat least on paper. After all, the ethos of Bitcoin and cryptocurrencies, in general, is decentralization H4x3, the anonymous lead developer of Bitcoin Gold, has stated that the purpose of the Bitcoin Gold fork is to encapsulate Satoshis one CPU one vote vision, with the current mining domination unacceptable. Changing proof-of-work is generally going to require a hard fork and BTG has decided to go that route. For now, Bitcoin Gold has been characterized as a friendly fork by the development team as Bitcoin Gold considered to be complementary to Bitcoin. As with, bitcoin, cash this summer, Bitcoin Gold will also be a hard fork, with the new tokens expected to launch on 25th October before being open to exchanges from 1st November. We dont hide that we are working hard to provide this solution to make cryptocurrency that has the Bitcoin structure and that cannot be mined using asic machines.

what is bitcoin gold fork

H4x3 added that Bitcoin Gold can be thought of simply as a replication of the Bitcoin protocol and coin distribution that can serve as a backup plan in case the original mining network is destroyed. If it turns out to be true, Bitcoin Gold would likely surpass Bitcoin Cash, though it would be a tall order to rise to the top of the Bitcoin table. You will receive the exact amount of Bitcoin Gold as Bitcoin you hold at that block. But that changed when people began building custom Bitcoin -mining asics. Asics are Application Specific Integrated Circuits. They are planning strong replay protection, so you probably wont have to worry about replay attacks. That could give Bitcoin a more democratic character and reduce the influence of the big mining pools that are so powerful within the mainstream Bitcoin network. If two blocks are announced around the same time, producing a disagreement about which one is the "official" block, the dispute is settled by running another round of the race. What is Bitcoin Gold Fork? It will be a fork of the original. How can Bitcoin Gold Fork Affect Bitcoin Prices? Developers, miners and a number of key contributors including Jack Liao, the CEO of Hong Kong mining manufacturer LightningAsic, are behind Bitcoin Gold, with other parties involved including Chinese mining tycoon and owner of Bitcoin news portal m and the projects anonymous lead developer H4x3.

what is bitcoin gold fork


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