Bitcoin Gold will modify the algorithm and allow mining via GPU

in #bitcoin9 years ago

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The project was first announced on Bitcointalk in July by Jack Liao, the founder of Lightning ASIC - a Hong Kong-based mining company - and an anonymous developer named "h4x3". The new protocol aims to change the Bitcoin consensus algorithm by allowing miners to extract the currency with graphic processors (GPUs). According to the development team, Bitcoin Gold will use the Equihash algorithm, also used by Zcash, rather than the original SHC256 bitcoin algorithm.

Bitcoin Gold will also implement the User Activated Hard Fork (UAHF) proposal to accept extraction via GPU, explains the archives of the official site.

"Minors can choose the size of the blocks they want to extract, with a default value of 1 MB. It includes protection against replay attack and wipeout. (...) For too long, Bitcoin has been hampered by the centralized mining industry. The GPU brings Bitcoin into the modern era with an exciting track record to finally enable scaling "

Bitcoin Gold, unknown to the general public

Although it was announced last July, the news of the fork of Bitcoin Gold is just beginning to be heard. Some believe that the project is a "troll attempt" to create confusion. The Bitcoin Gold code is available on Github, in open source for anyone who wishes to examine it. Currently, there are more than 250 members on the Bitcoin Gold Slack, and many visitors seem to be waiting for the fork with impatience. Even if the hard fork will take place on October 25, the full launch of the network is scheduled for November 1st.

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