Following the events of this summer, which were connected with the appearance of Bitcoin Cash and information about a possible new SegWit2x hardfork, another project with Chinese roots appears. As reported by coindesk.com, the project named "Bitcoin Gold" aims to follow a similar launch plan as Bitcoin Cash, i.e. to split from Bitcoin main chain.
As detailed, the Bitcoin Gold separation from the original Bitcoin chain is scheduled for October 25th. It is believed that the new tokens are to be traded on the exchanges on November 1st. The projct is to be led by Jack Liao, CEO of Hong Kong mining firm LightningASIC.
In particular, the developers hope to open up mining to more participants by replacing Bitcoin's mining algorithm with one that will enable it to be mined with graphics cards. The idea is to make big miners less relevant.
Bitcoin gold will implement a proof-of-work change from bitcoin's SHA256 to Equihash, a memory-hard algorithm that is ASIC-resistant and optimized for GPU mining.
Bitcoin Gold developer
Bitcoin Gold has its own website, however visiting it is unlikely to shed additional light on the project.
One month until #bgold exodus fork.
— Bitcoin Gold (@btcgpu) September 25, 2017
The project has already faced some criticism. Thus, Zhao Dong, a cryptocurrency trader and investor argues that "GPU mining can't prevent centralization as GPU are controlled by Nvidia and AMD".
Bitcoin price chart on coinmarketcap.com
What the future has in stock for Bitcoin and Bitcoin Gold, remains to be seen. Meanwhile, the top cryptocurrency price is about $4173.97, it's market capitalization is $69,257,899,504.