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Bitcoin gold launched following hard fork
A new cryptocurrency called bitcoin gold was launched on Tuesday as a hard fork was completed following block 491,407 on the bitcoin blockchain, creating a new one incompatible with the existing chain. All bitcoin owners will receive the new digital currency at a 1:1 ratio.
Bitcoin gold aims to change the mining algorithm by implementing the Equihash algorithm in an effort to bring back greater decentralization to the mining community. The project was proposed by Jack Liao, CEO of LightningASIC, a Hong-Kong-based company that produces cryptocurrency hardware.
The last hard fork occurred in August, when bitcoin cash was created, which resulted in bitcoin owners earning over 20% of the dollar value they had in bitcoin at the time. During the pre-launch, bitcoin gold was worth $397.22, while the trading volume in the past 24 hours was almost $9 million.
October 24th, 2017
From Teletrader News
