Bitcoin Gold to fix itself with a hard fork

06 Jun, 2018
by Joeri Cant
Bitcoin Gold to fix itself with a hard fork

Bitcoin Gold has lived through some troubling times in the last couple of months. BTG was targetted by numerous attacks and a 51% attack in late May, which resulted in $18 million worth of BTG tokens stolen and a tarnished reputation.

According to Toshi Times, the fix is a so-called “hard fork”, which in the past has spawned currencies, such as ethereum classic, bitcoin cash and bitcoin gold itself among others.

According to the developers, most of the components for the algorithm upgrade are ready but still need some additional testing.

The BTG team said: “We’re also working hard on many fronts to improve security, both now and in the future. We’ve developed monitoring systems for our blockchain and our mining network, and have established channels to rapidly communicate risks to Exchanges.“

According to the developers the hard fork will result in the BTG blockchain being far more resistant from 51% attacks. They continued to say that as soon as the upgrade is implemented and BTG is transferred on its own unique algorithm, the hackers will not be able to target the network.

The team concluded by saying:

“We can report that the crypto community is coming together and will be supporting each other as we work to get through these difficult times as quickly as possible.”

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Read more about: Bitcoin Gold (BTG)


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