The split happened at block # on October 25, and everyone who held their Bitcoins in a supported exchange or in a private wallet is eligible to claim Bitcoin Gold. Jun 25, · Bitcoin gold was a hard fork that followed several months after bitcoin cash in October The creators of this hard fork aimed to restore the . Nov 10, · Most people may have forgotten Bitcoin Gold is another Bitcoin fork. It has been around since late October , but quickly lost traction. More and more exchanges are currently in the process of delisting BTC, simply because no one is interested in trading this currency.
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Main article: Fork blockchain. Retrieved 17 June Mastering Bitcoin: Programming the Open Blockchain 2 ed. USA: O' Reilly media, inc. The New Yorker. Conde Naste. Retrieved 7 January Retrieved 20 August PC World. Retrieved 5 January Archived from the original on Retrieved April 28, Retrieved 23 April In response, a group of developers launched Bitcoin Classic in early Unlike XT, which proposed increasing the block size to 8 megabytes, Classic intended to increase it to only 2 megabytes.
Like Bitcoin XT, bitcoin classic saw initial interest, with about 2, nodes for several months during The project also still exists today, with some developers strongly supporting Bitcoin Classic. Nonetheless, the larger cryptocurrency community seems to have generally moved on to other options. Bitcoin Unlimited remains something of an enigma some two years after its release. The project's developers released code but did not specify which type of fork it would require. Bitcoin Unlimited set itself apart by allowing miners to decide on the size of their blocks, with nodes and miners limiting the size of blocks they accept, up to 16 megabytes.
Despite some lingering interest, Bitcoin Unlimited has largely failed to gain acceptance. Put simply, SegWit aims to reduce the size of each bitcoin transaction, thereby allowing more transactions to take place at once.
SegWit was technically a soft fork. However, it may have helped to prompt hard forks after it was originally proposed. In response to SegWit, some bitcoin developers and users decided to initiate a hard fork in order to avoid the protocol updates it brought about. Bitcoin cash was the result of this hard fork. It split off from the main blockchain in August , when bitcoin cash wallets rejected bitcoin transactions and blocks.
Bitcoin cash remains the most successful hard fork of the primary cryptocurrency. As of this writing, it is the fourth-largest digital currency by market cap , owing in part to the backing of many prominent figures in the cryptocurrency community and many popular exchanges. Bitcoin cash allows blocks of 8 megabytes and did not adopt the SegWit protocol. The creators of this hard fork aimed to restore the mining functionality with basic graphics processing units GPU , as they felt that mining had become too specialized in terms of equipment and hardware required.
One unique feature of the Bitcoin gold hard fork was a "post-mine," a process by which the development team mined , coins after the fork had taken place. Many of these coins were placed into a special "endowment," and developers have indicated that this endowment will be used to grow and finance the bitcoin gold ecosystem, with a portion of those coins being set aside as payment for developers as well.
Generally, bitcoin gold adheres to many of the basic principles of bitcoin. However, it differs in terms of the proof-of-work algorithm it requires of miners. When SegWit was implemented in August , developers planned on a second component to the protocol upgrade. This addition, known as SegWit2x , would trigger a hard fork stipulating a block size of 2 megabytes. It has to be said, the Bitcoin XT community had some interesting ideas. Gavin Andresen wanted to introduce 8MB blocks and an ongoing increase in size every two years.
Doing so would have taken the Bitcoin transaction output from 7 to 24 transactions per second. Bitcoin XT was eventually abandoned and turned into a Bitcoin Cash software client by mid Although Bitcoin Classic has a solid ring to it, the vision by its developers was anything but that. It too wanted to increase the block size of Bitcoin to two megabytes. Some of its code was eventually accepted by Bitcoin XT, but the Bitcoin Classic project ultimately disappeared.
Instead, the developers opted to give miners and nodes the option to manually set their preferred block sizes. The software fork ceased to exist in November of in its software-oriented approach.
Bitcoin Unlimited aimed to increase the transaction capacity of the network as well. However, it never received enough support from Bitcoin supporters, it is still around today, however, but is now only compatible with Bitcoin Cash.
Known as Bitcoin Cash , it is the network for users who want to see bigger Bitcoin blocks and more transaction capacity. As a project, it has come under a lot of scrutiny numerous times, even though it is still going strong today. Its price never succeeded in rivaling Bitcoin in any way, though, which was to be expected. He remains a public figure associated with this hard fork today.
Bitcoin Cash has far fewer transactions, nodes, and miners than Bitcoin. Contrary to what most people may assume, Bitcoin SV is not a direct hard fork of Bitcoin itself. Instead, it is a forked version of Bitcoin Cash, which saw the light of day in November of Backed by Craig Wright — who claims to be Satoshi Makamoto — the project has been in disarray for some time now.
Even though it has a block size of 32 MB, the miners and node operators are seemingly not interested in this effort. Most people may have forgotten Bitcoin Gold is another Bitcoin fork.
It has been around since late October , but quickly lost traction. More and more exchanges are currently in the process of delisting BTC, simply because no one is interested in trading this currency. As far as purpose goes, Bitcoin Gold did not seem to address a specific need or shortcoming right away. Although it ensures no ASIC hardware can be used to mine on the blockchain, there is no other reason to check out Bitcoin Gold today.