Bitcoin Gold skyrockets

Bitcoin Gold was finally listed on CoinmarketCap and already went ahead of most major cryptocurrencies with its price and capitalisation growing up
26 November 2017   2149

Bitcoin Gold is a cryptocurrency which forked from Bitcoin on October 25 and it is rapidly gaining top positions being ahead of major altcoins such as Dash, Litecoin, NEO, Monero and IOTA. The coin rose by hundreds of dollars in price since its listing and currently takes 5th place in the list of coins ranked by market capitalisation.

Coinmarketcap list top coinsList of top coins ranged by market capitalisation

Bitcoin Gold rose by 148% within past 7 days and one of the main reasons behind Bitcoin Gold price increase might be the announcement that cryptocurrency exchanges Bithumb and Bitfinex have both added BTG trading pairs to their platforms.

Bitfinex added BTG/BTC and BTG/USD, while Bithumb added BTG/KRW trading pairs. Bitcoin Gold has already been traded on biggest exchanges like Bittrex, HitBTC, and Binance.

Bitcoin gold charts november 2017Bitcoin Gold Charts

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

  • Average price: $343.27
  • Marketcap: $5,723,428,863
  • 24h volume: $167,728,000

Bitcoin Gold Hardfork to be Implemented

Modified Equihash-BTG algorithm was launched on block 536200
05 July 2018   1113

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.