Bitcoin Gold to upgrade its MainNet

A hard fork of live MainNet of Bitcoin Gold is scheduled on July 1 as the network is expected to reach block 536200
26 June 2018   600

Bitcoin Gold network upgrade is scheduled for block height 536200 that is expected to take place on July 1. As the software upgrades for full nodes and miners are mandatory, the event is considered to be a Hard Fork. At the same time, there will be no new coin created. The fork features:

  • new PoW algorithm Equihash-BTG (to prevent current ASICs from mining);

  • DAA, or Difficulty Adjustment Algorithm improvements (address hashrate swings)

Coin supply or coin creation rate are untouched. Exchanges, Wallet Providers, Pool Operators, and Miners can find important details here.

At the moment of publication, Bitcoin Gold (BTG) market characteristics are as follows:

Average price 25.37 USD
Market cap 433,503,939 USD
Volume (24H) 9,330,860 USD

Bitcoin Gold Hardfork to be Implemented

Modified Equihash-BTG algorithm was launched on block 536200
05 July 2018   948

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.