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Bitcoin Gold, Another Bitcoin Fork

Bitcoin is expected to have a new fork, Bitcoin Gold.

Staff Reporter Oct 24, 2017

I’m sure by now, you’ve heard of Bitcoin. Bitcoin is a cryptocurrency developed based on blockchain technology. Bitcoin is also an open source software project, that can be forked to create another bitcoin based cryptocurrencies.

Earlier in Aug, another cryptocurrency was forked from bitcoin named Bitcoin Cash. By putting “cash” in the name of a currency does not make it real cash. It is still a cryptocurrency, just like bitcoin.

Now, another fork of Bitcoin is all set to become another cryptocurrency, Bitcoin Gold.

According to a news published on CoinDesk:

A small group from Hong Kong is behind bitcoin gold. The purpose of Bitcoin Gold is to improve the process of mining and how the miners are rewarded.

Currently, the miners with powerful computers have advantage over individuals and Bitcoin Gold is supposed to fix that problem. The new project is expected to attract more people to the project and bitcoin world.

All bitcoin owners will receive the cryptocurrency at a rate of 1 BTC to 1 BTG, setting the stage for possible market activity. The project BTCGPU is available on Github.

Next Reading > What is Blockchain

Staff Reporter
Staff Reporter

Staff contributor of Jumpstart Blockchain covering blockchain and related topics.

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