Bitcoin Gold to Adopt Lightning Network

Bitcoin Gold team reported that it is working on finalizing the necessary integrations to fully implement Lightning Network on BTG in second quarter of 2018
21 February 2018   5250

Bitcoin Gold decentralizes mining by adopting a PoW algorithm, Equihash, which cannot be run faster on the specialty equipment used for Bitcoin mining (ASIC miners). Bitcoin Gold has full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats.

Bitcoin Gold team reported that it is working on finalizing the necessary integrations to fully implement Lightning Network on BTG in second quarter of 2018. Lightning Network is a groundbreaking way to enable near-instant payments with even lower fees through dedicated side channels. Because they are off the main chain, Lightning Network saves space in the blocks, but it allows huge numbers of fast transactions between large entities at very low cost.

Bitcoin Gold RoadmapBitcoin Gold Future Development

Moreover, plans of Bitcoin Gold for 2018 include SPV wallet Electrum release, Bech32 addresses, and libraries for wallet developers: BitCore, BitcoinJ, BitcoinJ5.

At the moment of press, these are main market parameters of Bitcoin Gold:

Average price: $130,98
Market cap: $2 205 418 134
24h volume: $40 758 600

Bitcoin Gold Hardfork to be Implemented

Modified Equihash-BTG algorithm was launched on block 536200
05 July 2018   816

On block 536200 Bitcoin Gold network was transferred to the modified Equihash-BTG algorithm, not supported by classic ASIC-miners. This is the developers of crypto-currencies reported in the official blog.

Thus, the project promotes one of its main ideas, which consists in avoiding ASIC-mining.

According to the developers, the new algorithm includes personalization, which makes it difficult to redirect the power of mining through the markets of hashing capacities, which guarantees greater network security.

Also in the course of the hack, an improved difficulty adjustment algorithm (LWMA) was added, which will allow BTG to work faster, providing a more stable flow of blocks.

We thank them all for their hard work in recent days getting ready for this upgrade… and for dealing graciously with the few snags and hurdles that will inevitably come after an important Upgrade like this.

We know that this milestone isn’t an endpoint… it’s just a waypoint we pass along the way to better things. First, we’ll make sure everything continues to function as expected, and we’ll help the inevitable stragglers get on board with the new code… and then we have a whole bunch of new things we’re looking forward to sharing with the Community!
 

The Bitcoin Gold Organization

In early June, the Bitcoin Gold team said that updating the network will make the cryptocurrency less vulnerable to various hacker attacks. In May, an unknown miner, through a "51% attack" on the BTG network, stole about 388,000 coins from the exchanges.