The Bitcoin Gold Team Announces the Success of an ASIC-Resistant Rigid Fork

Bitcoin Gold (BTG), the cryptocurrency that emerged as a hard fork of the main Bitcoin blockchain in October 2017, has now made personal history with its much-awaited first hard fork.

Developers of Bitcoin Gold have said the motivation for the range is to reduce the risk of 51 percent of attacks in the future and protect the ASIC miners' threat room flooding its network.

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The Fork Hard, Changing Equihash's Equal-Equal Equihash Equihash-Equation algorithm has been implemented on block 536,200. This will not result in the creation of another token, as is the case in most other forks. Rather, it will replace the old channel to allow new updates to take effect.

There were no reports of bugs or defects in the BTG block chain in the hours following the hard range. The team insists that the transition is made smoothly and that coin holders should not worry

Behind Bitcoin Gold has already criticized "the monopoly maker currently operates," referring to Chinese producer ASIC Bitmain, saying that it is abusive to minors individual and the industry as a whole. This disagreement was one of the main factors of the original BTG fork last year.

The team decided that the best way to avoid this is to modify the BTG algorithm to adopt new parameters that require a lot more memory for the ASIC to execute and therefore causing retries mining companies to be unprofitable.

Upgrading the network will also help prevent "double-spend" attacks, in which transactions are reversed after being confirmed. The news should come to relieve the BTG community after the many attacks that have occurred in recent months. A total of 388,200 BTCs were stolen, which equates to $ 18.6 million of funds.

According to Coinmarketcap.com, Bitcoin Gold is currently the 30th largest cryptocurrency with a market capitalization of $ 516 million.

Commenting on the fork, the BTG team said in a statement: "The new algorithm also comes with customization that makes it harder to redirect mining energy through a" hashrate market " The recent "51%" attacks, whether or not involving ASIC minors, have been channeled through hashpower rental markets – but with this change in algorithm, there is no more rental market for the algorithm we use, and it is more difficult to create one than before.That means more security. "