Bitcoin Gold hardfork implemented

Learn about new hardfork of first cryptocurrency; Bitcoin Gold price chart inside
24 October 2017   2075

The planned Bitcoin Gold hardfork took place just before the deadline. A snapshot of the bitcoin, as confirmed by the developers of the project, was made on block 491,407.

Initially, it was expected that the BTG fork will occur on October 25, but the bitcoin network reached this block somewhat faster.

As the project developers confirmed in the published road map, the Bitcoin Gold network itself will not be launched immediately, but a few days after the snapshot. Presumably, this should happen on November 1.

Earlier Bitcoin Gold was criticized for its lack of adequate protection against replaying transactions, but the developers assured that such protection will be implemented, and this will be done before the official launch of the network. They also promise a unique address format. 

Earlier representatives of Bitcoin Gold stated that they intend to create a truly "decentralized bitcoin", and thanks to the use of the algorithm of Equihash, mining will become more simple and affordable for ordinary users.

Earlier, some exchanges and purse providers have already expressed their position on BTG. So, Coinbase and GDAX do not plan to charge users with new coins. Bittrex will charge its BTC holders with BTG but refuses to launch BTG trades. EXMO and WEX refused to support BTG, but HitBTC and Yobit, on the contrary, are ready to support the coin. Bitfinex, meanwhile, not only confirmed the release of shared tokens (Chain Split Tokens), but also started trading them.

Bitcoin Gold Price 

At the moment of press, its still too early to talk about the market cap of new Bitcoin fork. But we can see the average price and a chart.

Bitcoin Gold price chart
Bitcoin Gold price chart

According to Coinmarketcap, trading volume of BTG is $8,710,670 and average price is $403.38.

Bitcoin Gold Hardfork to be Implemented

Modified Equihash-BTG algorithm was launched on block 536200
05 July 2018   1106

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.