The bitcoin gold (BTG) network activated on Sunday with the idealistic goal to “make bitcoin decentralized again” by blocking the use of ASIC miners, but several metrics indicate that it faces significant obstacles in its quest to fulfill that mission.
Bitcoin Gold Network Launches
Though technically an altcoin, bitcoin gold is the latest cryptocurrency created by forking the bitcoin blockchain — rather than just its source code. Consequently, anyone who held bitcoin balances at the time of the blockchain “snapshot,” which was taken in late October, has received an equal number of bitcoin gold now that the network has launched.
If there was any doubt that one of these bitcoin forks could achieve viability, bitcoin cash has put it to rest. Last weekend, the bitcoin cash price surged to a new all-time high near $2,500, briefly enabling it to surpass ethereum in the market cap rankings. Its price has since declined by half, but this nevertheless represents a weekly gain of approximately 100% and provides it with a market cap in excess of $20 billion.
Bitcoin Gold Lettest News