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 . Bitcoin Gold (BTG) is a fork of Bitcoin that occurred on 24 October on block Bitcoin Gold changed Bitcoin’s proof-of-work algorithm from SHA to Equihash rendering specialized mining equipment obsolete in an attempt to democratize the Bitcoin mining process. Bitcoin Gold is also a real blockchain to pilot Bitcoin upgrades. As per their official website, the exact time is not yet known for this fork. But the official date for the fork is mentioned as (25th October ) but better to follow the block height which is block Why Is It Happening?
Date bitcoin gold forkList of bitcoin forks - Wikipedia
Forks require consensus to be resolved or else a permanent split emerges. The following are forks of the software client for the bitcoin network :. All three software clients attempt to increase transaction capacity of the network. None achieved a majority of the hash power. Hard forks splitting bitcoin aka "split coins" are created via changes of the blockchain rules and sharing a transaction history with bitcoin up to a certain time and date.
The first hard fork splitting bitcoin happened on 1 August , resulting in the creation of Bitcoin Cash. From Wikipedia, the free encyclopedia. Redirected from List of Bitcoin forks. Wikipedia list article. 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 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.
SegWit2x was slated to take place as a hard fork in November However, a number of companies and individuals in the bitcoin community that had originally backed the SegWit protocol decided to back out of the hard fork in the second component. Some of the backlashes was a result of SegWit2x including opt-in rather than mandatory replay protection; this would have had a major impact on the types of transactions that the new fork would have accepted.
In only a few short years, bitcoin has already spawned a large number of forks. While no one can say for sure, it's likely that the cryptocurrency will continue to experience both soft and hard forks into the future as well, continually growing the cryptocurrency community while also making it increasingly complicated.
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