Another Fork? Bitcoin Gold Project Plans to Fork Bitcoin Next Month
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The original bitcoin classic BTC now has two separate spinoffs to form two different cryptocurrencies. Then, on the 25 th of October, bitcoin gold also forked away from bitcoin, although it was officially launched on the 12 th of November. Now that we have these two new bitcoin versions, we should look at bitcoin gold fork price prediction differences and how bitcoin gold fork price prediction compare in value.
In the case of bitcoin cash BCHa faction of miners did not agree with the SegWit2x proposal, and they began processing a separate code of blockchain. The new code would not be compatible with that of bitcoin classic, creating two different cryptocurrencies.
To perform a successful hard fork, there needs to be a significant number of miners and nodes that are processing the new code. The main difference in the two cryptocurrencies is in the fundamental code underlying them.
Unlike the BCH algorithm that takes up mostly raw processing power, equihash is memory-oriented, meaning that it depends on the amount of RAM. From this first difference in the underlying technology comes the other difference between the two. That is the reason why these cryptocurrencies forked from bitcoin. SHA is a proven method of creating a hash, although it requires a lot of power. Nevertheless, the dev team behind bitcoin cash bitcoin gold fork price prediction wanted to make a cryptocurrency focussed on payments.
On the other hand, bitcoin gold was more interested in making a more decentralized cryptocurrency. You see, after bitcoin mining became so profitable, a few groups of people became major miners and making the coin somewhat centralized.
By using ASICs capable of faster algorithm processing, the part-time miner was pushed out. This is unlikely to be monopolized in the near future. Expert predictions expect that the price of bitcoin cash will keep going higher as it has some advantages over bitcoin classic. As for bitcoin gold BTGexperts are still wary of it because there seems to be no real purpose for the forked coin.
Perhaps in the future the dev team will give more meaning to the cryptocurrency, but as of now, bitcoin gold seems to be lost at sea.
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