Bitcoin Gold (BTG) Prepares for MainNet Network Upgrade
Bitcoin Gold (BTG) joins the increasing number of cryptocurrencies migrating to their MainNet this year.
The MainNet of Bitcoin Gold is expected to launch on July 1st, 2018.
How Will Bitcoin Gold Look After the MainNet Goes Live?
The MainNet launch of Bitcoin Gold is geared towards achieving certain milestones and closing certain ‘loopholes’ found in its current blockchain.
The MainNet will undoubtedly bring more improved features to the plate-like greater fork height and faster transaction, but the BTG team is greatly concerned about fortifying its blockchain against threats.
The two threats the MainNet of Bitcoin Gold will curb are the increasing threat of ASIC miners overrunning the network and the provision of better security to prevent 51% attacks in the future.
When Bitcoin launched as a fork from Bitcoin, the project introduced a new (rather, an alteration to Bitcoin’s) hashing algorithm.
Bitcoin Gold’s algorithm laid waste to ASIC, as a result, reduced the threat of miners disrupting its decentralized network.
However, a Bitmain the Antiminer Z9, which works effectively on the BTG network. BTG’s MainNet will feature algorithms (Equihash BTG) that will render ASIC mining “impossibly unprofitable” on the network.
The BTG team fully understand the plight of its community after the series of hack events that hit the network.
Hackers have carted away with over $18 million USD from Bitcoin Gold (BTG) community over the last couple of months.
The MainNet upgrade seems rather strategic from the BTG team than a publicity stunt from a declining asset.
Fixing these issues and improving on its already impressive platform via its MainNet will help BTG head in a more positive direction.
Leading up to the MainNet launch, Bitcoin Gold has released a testnet version showing identical features to the MainNet, in preparation for its MainNet launch.
Bitcoin Gold’s Impressive TestNet Results
The Bitcoin Gold’s testnet which was launched 3 days ago is now officially open for test pools, in preparation for its MainNet in 10 days.
Although the testnet is just a trial version of the MainNet that will be launched, it features some interesting specs.
The testnet was able to scale the hard fork height which was set prior to the release (14,300); the MainNet will quadruple that number.
Current Price and Market Status of Bitcoin Gold (BTG)
The bullish run pulled by the crypto market ended abruptly as a huge chunk of the market opened for trade in the red today.
As at the time of this writing, dropping by 0.94% over the last 24 hours, Bitcoin Gold (BTG) is trading at $31.66.
Bitcoin Gold is ranked as the 29th largest cryptocurrency with an estimated market cap of $541 million USD.
Bitcoin Gold has only been available in the market for less than 8 months, and it has achieved quite a lot.
The digital asset has a trade value of $31.66 ranks in the top 30 cryptocurrencies and is available in 108 markets and trading on 55 digital exchange platforms.
The MainNet will be a step up for BTG as it looks towards reaching greater heights.