Bitcoin Gold route map focuses on scalability, privacy and decentralization
The Bitcoin Gold project published its roadmap to follow to achieve its development. Emerged from a forced bifurcation of the Bitcoin blockchain, Bitcoin Gold (BTG) thus proposes a path to travel where they will implement updates and protocols that will contribute in a general way to the development of blockchain as a technology and could make this cryptocurrency a reference in the ecosystem .
According to the projections, after having recently updated the software of its official portfolio, they will shortly make a bifurcation of the Electrum portfolio for Bitcoin Gold, a light and easy-to-use client. They will also publish the open source libraries BitCore, BitcoinJS, BitcoinJ and Copay to make them available to the community, because, according to specifications described by Edward Iskra, Director of Communications of Bitcoin Gold, allowing others to develop applications with Bitcoin Gold is a priority.
One of the most important focuses of Bitcoin Gold's route map is scalability. Therefore, they hope to implement the Lightning Network protocol for the second quarter of this year, a great tool to speed up transactions and lighten the network. This is possible because Bitcoin Gold already has Bech32 addresses, those linked to the SegWit protocol, which also paves the way to allow the future implementation of the side chains and intelligent contracts in Bitcoin provided by RSK, as well as for atomic exchanges, a tool expected by the blockchain community because it allows the conversion of different blocks of cryptocurrencies in a decentralized manner.
Lightning Network is an exciting and disruptive way to allow almost instantaneous payments with even lower commissions through side channels. Because they are outside the main network, Lightning Network saves memory of the blocks - but it allows a large number of transactions to be carried out at a low cost, and these transactions are almost instantaneous. This is extremely attractive for large organizations interested in using Bitcoin Gold, but in turn need to be confident that they can scale dramatically. We are bringing you what you need.
Bitcoin Gold continues with broad ambitions to scale its network with the best tools and protocols to its network, since they also intend to implement the Schnörr and Merkelized Abstract Syntax Trees (MAST) signatures for the third quarter of the year; Schnör firms, they say, "allow someone who frequently sends cryptocurrencies (such as a bank or exchange house) to sign one hundred transactions at a time instead of placing one hundred signatures on the blockchain."
To continue promoting the development of scalability solutions, they will soon develop a Bitcoin Gold Improvement Proposal (BGIP), framed in a research program that rewards developers who find or repair bugs, improve the performance of the clients of this blockchain and increase the compatibility of Bitcoin Gold with more outsourced services. In this work, the dissemination and research of the project will be promoted through hackathons, competitions, conferences and a Global Ambassadors Program.
In turn, another of the characteristics that they want to enhance in their blockchain is privacy, by preventing a third party from checking the balance of an address or portfolio, leaving behind the pseudo-anonymity.
In the long term, they will investigate safe methods of performing forced bifurcations, going through the development of intelligent voting mechanisms and a form of decentralized governance capable of making positive decisions for the network taking into consideration the will of the users. This involves hiring more developers who must be aware of everything that happens in this environment, so they have launched a mailing list for development participants and have reiterated their intention to be open and honest with the public and with other projects.
Regarding the intention to emerge as a reliable and viable project, spreading its mission in the blockchain community and bitcoiner, CriptoNoticias received comments from Alejandro Regojo, Project Manager and co-founder of Bitcoin Gold, about his mission as a project and guidance they take on the context in which they emerge as a new cryptocurrency.
Asked about the fact that Bitcoin Gold has been created during the same season when other networks are also diverged and its decision to use the name Bitcoin, Regojo said he feels part of the community and of the whole movement initiated by the first cryptocurrency created. "[...] It was in the Bitcoin ecosystem that the first ideas and movements were born that finally led to the formation of BTG. All Bitcoin Gold members are also Bitcoin members. Thus, the most intelligent way we saw to reach the entire community was the bifurcation of the main code, "he said.
In turn, Regojo considers that Bitcoin Gold is the project closest to the vision of Bitcoin originally described in its white paper.
There's no doubt. Today it is the most decentralized currency and therefore with the least "country risk". One of the main objectives of Bitcoin Gold is to return to the general public the possibility of mining with its CPUs and GPUs. The motivation to do so is simple: Satoshi Nakamoto's original idea was to implement a voting mechanism, which he called 1CPU1VOTE; we believe it is fair, in the sense that anyone around the world can buy hardware (CPU or GPU) to mine.
To which he adds that the idea that each individual can generate profitability with their GPU is a step to "make the currency immune to governments, public institutions, dictators ... and prevent things from happening like the one we lived this week, in which the country that monopolizes the BTC plays to send rumors making completely lose the trust that has cost us so much to reach, "he said referring to the uncertainty of markets generated by the comments of legal authorities of South Korea.
Regojo also clarifies that Bitcoin Gold can be used both as a payment method or as a long-term investment, as well as other utilities.
The term "Gold" does not mean a relationship between the project and Bitcoin (BTC) similar to a backup pattern, it is just a name we use to designate that part of the community that saw, with time, the problem Current Bitcoin and decided to get involved in a version with more future, decentralized and stable.
When expressing our interest in that being a young project already contemplates in its roadmap the implementation of technologies highly anticipated by the community, Lightning Network and Atomic Swaps, as well as aspire to allow private transactions and investigate smart contracts, Regojo affirms that innovation and technological integration are two of its main values.
In general, we will follow the development of these new technologies recently mentioned in Road Map 2018. It is important to understand that Bitcoin Gold is a project that was born with the purpose of adding innovative solutions and is committed to the integration of the most advanced technologies available and always focused on offering its users faster and cheaper transactions, security, stability, transparency and the option to be part of an international community that creates a decentralized financial system.
Regojo also announced that they are working to deploy international ambassadors and promoters of Bitcoin Gold and Bitcoin, as well as other blockchain-related technologies. "Bitcoin Gold was born and will continue as a social, common and collaborative movement," he says. Likewise, they are preparing hackatons and alliances with universities at an international level to attract talents and developers to their project.
According to CoinMarketCap, cryptocurrency currently stands in 15th place by market capitalization, but by the end of November overcame Dash and placed in position 5. Regojo concludes that the adoption of Bitcoin Gold is one of the major events of 2018.
The main network of Bitcoin Gold managed to become fully operational during the month of November, after overcoming his platorma DDoS and phishing attempts attacks in which at times were passed by Regojo for falsely claiming that the ministry had Blockchain.info accepted Bitcoin Gold. Shortly after overcoming this setback and launching their network they managed to implement the cold Trezor and Ledger portfolios to their protocol.