Bitcoin Gold is live. At 2 p.m. Eastern on Sunday, the latest splinter from the world’s biggest cryptocurrency hit the internet. It’s the second time this year that a project has “forked” — split away — from Bitcoin’s blockchain, the first being Bitcoin Cash back in August. Its developers have big plans to make a cryptocurrency that’s decentralized and free from major group influences.
One of the biggest differences between Bitcoin Gold and its predecessor is the mining algorithm each uses. Over time, Bitcoin went from being a cryptocurrency that regular computers could mine to one that required specialized, bespoke hardware. The new Bitcoin Gold uses the Equihash algorithm instead of SHA256, which means that application-specific integrated circuit boards (ASICs) designed for mining Bitcoin at rapid speed won’t work with the new cryptocurrency.
Read More... What is Bitcoin Gold? Why the Latest Fork of the Blockchain Matters