After 25th October there is to be expected a lot of ups and downs of BitCoin. And after this there is expected to be a new release of a new cryptocurrency named BitCoin Gold.
Bitcoin Gold (BTG) plans to hard fork the cryptocurrency on October 25, creating another version of bitcoin in the process. The project was first made public back in July and was created by Jack Liao, founder of Lightning ASIC, a mining firm from Hong Kong. The fork will include the adoption of a new protocol that will change some of the consensus mechanisms relating to bitcoin.
The result is that miners would be able to go about mining for tokens in new ways. According to bitcoin.com, the new BTG will make use of the Equihash algorithm that Zcash uses, rather than bitcoin’s SHA256 algorithm.
Styled as a rebellion of sorts, bitcoin gold aims to follow a similar launch plan as bitcoin cash – the blockchain that split from bitcoin this summer by way of a "hard fork."
The idea of the project is to release an improved protocol, one that will challenge bitcoin cash in particular, and details are now starting to come come into focus.