It’s that time of the year again where a new coin will emerge this weekend called Bitcoin Gold.Block 491,407 on the bitcoin blockchain,will see yet another alternative version of the protocol resulting in a variant that’s being branded Bitcoin Gold.
As earlier on this year when Bitcoin Cash ( BCC/BCH ) has been released anyone who owns bitcoin at the time of the split will receive an equal number of Bitcoin Gold.
Reported to go live on the 12th of November the developers behind the coin are preparing for the official launch. Bitcoin Gold ( BTG ) is an Altcoin which will keep most properties of the protocol but will impede not only the use of specialized chips for mining but also the process in which new transactions are added in the blockchain. It also hopes it hopes to free the bitcoin network from the large companies that offer these products, and it argues, command undue influence on the network.
While criticized by some, the team behind Bitcoin Gold has been mining blocks since the network was formally created with the purpose of having a number of coins set aside for support development.
In comments for coindesk the team issued the following statement : “We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time”
In opposition Sol Lederer blockchain director of startup Loomia commented : “ These forks are very bad for bitcoin.Saturating the market with different version of bitcoin if confusing to user and discredits the claim that there are a limited number of bitcoins since you can always fork it and double the supply “
It remains to be seen if the latest bitcoin fork will accumulate enough support from users in order to keep the service feasible over the long term. Bitcoin cash has accomplished to fabricate the right infrastructure the question that remains is wether Bitcoin Gold follow this path as well ?
These are the current wallets supporting Bitcoin Gold for those that want to buy in now.