Bitcoin hard forks - Bitcoin Gold and Bitcoin 2X -
After the first bitcoin fork in this year that was in August, 1st by which Bitcoin Cash was issued, now the bitcoin community is facing two forks in less than a month, which will certainly impact the future of bitcoin and also clear the tensions origins of the forks. So in less than two days we will see the Bitcoin Gold precisely by October 25 (block 491 407);
Bitcoin GOLD - Official WebSite
What is Bitcoin Gold?
Bitcoin Gold is a fork of the Bitcoin blockchain that will occur on October 25, 2017. At the predetermined block height, Bitcoin Gold miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency will be born.
How can I get Bitcoin Gold?
The Bitcoin Gold (BTG) initial coin distribution method is exactly the same as that used by Bitcoin Cash (BCH). All Bitcoin holders who possess BTC private keys on October 25 (block 491 407) will receive Bitcoin Gold on the rate of 1 BTC = 1 BTG (If you have 20 BTC you will receive 20 BTG). You need to control BTC private keys in order to make Bitcoin Gold transactions.
A few weeks later, according to what's called New York Agreement (NYA), a group of Bitcoin companies signatories of the agreement wants to hard fork according to the SegWit2x plan as defined in the “New York Agreement” which will probably result in yet the creation of another new coin. Check The list of Companies signatories of the agreement :The following companies and services have pledged to adopt the contentious hard fork (SegWit2X) :
Wallets
- Abra (United States)
- Bitcoin.com (St. Kitts & Nevis)
- BitPay (United States)
- BitPesa (Kenya)
- Blockchain.info (UK)
- BTC.com (China)
- Circle (United States)
- Coinbase (United States)
- Coins.ph (Phillipines)
- GoCoin (Isle of Man)
- Jaxx (Canada)
- Luno (Singapore)
- Ripio (Argentina)
- Unocoin (India)
- Xapo (United States)
Exchanges
- ANX (Hong Kong)
- Bitex (Argentina)
- bitFlyer (Japan)
- Bitso (Mexico)
- BTCC (China)
- BTER.com (China)
- Coinbase (United States)
- Coins.ph (Phillipines)
- CryptoFacilities (UK)
- Korbit (South Korea)
- Safello (Sweden)
- SFOX (United States)
- ShapeShift (Switzerland)
Miners
- 1Hash (China)
- Bitcoin.com (St. Kitts & Nevis)
- Bitfury (United States)
- Bitmain (China)
- Bixin.com (China)
- Genesis Mining (Hong Kong)
- ViaBTC (China)
Other
- Bitangel.com /Chandler Guo (China)
- BitClub Network (Hong Kong)
- Bloq (United States)
- Civic (United States)
- Decentral (Canada)
- Digital Currency Group (United States)
- Filament (United States)
- Genesis Global Trading (United States)
- Grayscale Investments (United States)
- MONI (Finland)
- OB1 (United States)
- Netki (United States)
- Purse (United States)
- Veem (United States)
So in about less than few weeks your Bitcoin will be known in the three separated and distinct blockchains,
- Bitcoin (Legacy) referred to as “BTC”
- Bitcoin Gold referred to as“BTG”
- Bitcoin SegWit 2X referred to as “B2X”
Keep in mind that to be safe during this two coming forks and especially for the SegWit 2X fork, to have your Bitcoin in a wallet that offer you control over the private keys of your wallet.
Check the official article about safety from Segwit2x fork.
Author’s Note : This article is meant to offer you different informations from official websites, It is not a for tutorial purpose, or represent political or marketed content, it is meant to give you yet another understanding of the situation.