Bitcoin Gold Team Touts Safety Update Ahead of Coin Release

The bitcoin gold development team has announced that it is adding support for two-way replay protection ahead of the network's expected launch.

DECENTRALIZATION

Bitcoin Gold implements a new PoW algorithm, Equihash, that makes mining decentralized again. Special computer hardware designed for BTC mining (ASICs) is obsolete for mining BTG, giving ordinary users a chance to mine with ubiquitous GPUs.

FAIR DISTRIBUTION

A hard fork of Bitcoin is the most fair and efficient method of creating and distributing a new digital asset. Coins that are created from a new genesis block always have ownership concentrated among a smaller group of people.

TRANSPARENCY

Bitcoin Gold is a free open source software project that is built by volunteer developers and supported by a rapidly growing community of Bitcoin enthusiasts that stretches across the globe.

REPLAY PROTECTION

In order to ensure the safety of the Bitcoin ecosystem, Bitcoin Gold will implement full replay protection, an essential feature that protects users coins from being spent accidentally.

Bitcoin gold is a fork of the bitcoin network, created with the primary aim of restricting the use of specialized chips for bitcoin mining through a change in the code. The effort is backed by an open-source community of relatively unknown developers, as well as Lightning ASIC, a seller of mining hardware based in Hong Kong.

The addition of replay protection is intended to prevent users from sending both bitcoin gold and bitcoin when making a transaction meant to occur on just one chain – a necessity owing to the shared code between those two networks. Without the measure, a user might inadvertently send their coins to a different address, losing control of them in the process.

"In order to ensure the safety of the bitcoin ecosystem, Bitcoin Gold has implemented full replay protection, an essential feature that protects users' coins from being spent unintentionally," the developers wrote in a new blog post.

The announcement of replay protection comes before bitcoin gold is available to users. Currently, the network is technically private, accessible only to the development team (who are updating the code and mining blocks as they go). In the absence of actual coins, exchanges like Bitfinex have begun trading futures connected to the cryptocurrency, which are currently trading between $140 and $170, according to CoinMarketCap.

The new blog post also indicated that a public test network will be launched sometime later today.

"[The] Bitcoin Gold team will deploy a public testnet opens to miners from all over the world in a few hours," they wrote.

ECOSYSTEM

Exchanges that will support this Bitcoin Gold are as follows :-

HitBTC* Binance* YoBit* Bleutrade* BitStar* Bitfinex* Coinnest* Gate.io* Cex.io * BitFlyer 

 BitBay *Beatcoin *Change Now *Paribu *Abucoins

Good News to those having Bitcoin currently. Coinbase is giving out Bitcoin Gold equals to what is deposited in your Coinbase Wallet / Account. Example : If you have 5 bitcoin in your account than you will be automatically credit with 5 Bitcoin Gold after BITCOIN NEXT FORK on 16 November 2017.

THANK YOU.