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Despite the august fork that produced bitcoin cash which has been making a tremendous wave in the market, another fork is slated to happen in 25th October. The anticipation of this fork to take place with SEGWIT2X has kept the first-hand-info-getters on the preparing side. However a great number of bitcoiners seem not to be aware of this fork- bitcoin gold coming up this October.

The plan of Bitcoin-Gold to change the consensus Mechanism

The project which was first announced by bitcointalk.org on July was created by Jack Leo who is the founder of Lightning ASIC a mining firm based out of Hong Kong and an anonymous developer named “H4x3.” According to the developing team the proposed coin- bitcoin gold will use Equihash algorithm used by the altcoin Zcash rather than bitcoin’s original SHA256 though no reason has been given for this.

“Bitcoin Gold implements the UAHF (User Activated Hard Fork) proposal to accept GPU mining,” the website archive explains. “Miners can choose the size of the blocks they want to mine, with a default of 1 MB. It includes replay and wipeout protection.”

Bitcoiners unaware of this fork

For some months this news has been around since two months ago but it seems that most bitcoin enthusiasts are still on the dark side as only a few are aware of this forth coming split. The Bitcoin Gold protocol has available code on Github for review and has multiple social media accounts for Twitter, Facebook, and a Slack channel. Currently, there are over 250 members in the Bitcoin Gold Slack channel, and many of the visitors seem excited about the new fork. Even though the user-activated hard fork will take place on October 25 the full network launch is scheduled for November 1.

The Big Work Ahead

The team slack seem to have a lot of work to do if they hope to fork on October 25. For instance, many bitcoin proponents are enthusiastic about this fork and yet at the moment there is no testnet for miners to test the protocol, reveals the BTG lead developer. However a BTG programmer assured the public that the testnent will be launched as soon as possible- “We are working on core protocol and will launch the testnet ASAP,” the BTG programmer reveals in a conversation on the team’s general chat Slack channel. “[Mining] profitability is determined by the price and mining difficulty, but the price is hard to predict,” he adds.

The Confusing Fork Proposal
An appraisal of how the market participants views this project has shown that many a participant thinks of it ask a joke or another method of crypto-trolling. This doubt sterms from the fact the project seems extremely unorganized for a hard fork slated for the end of October.

Further, there is speculation from community members about the team’s intentions to change the bitcoin algorithm to conform with GPU miners. Jack Liao manufactures GPU miners that can mine the Zcash algorithm Equihash and speculators believe this is the primary reason to clone bitcoin and make it GPU compatible.


What do you think about this BTG hard fork scheduled to happen on October 25? Do you too think it’s a joke or a mere rumor? Lets know what you think in the comment below.


Source: http://www.cryptogossips.com/2017/09/another-bitcoin-fork-on-way-bitcoin-gold.html?m=1