Bitcoin Gold Launch – 12th November 2017 (19:00 UTC)
The developers that created the fork of the bitcoin blockchain announced that they will release Bitcoin Gold this weekend (November 12th, 2017 @ 19:00 UTC). This new cryptocurrency is backed by LightningASIC along with several unknown developers. LightnightASIC sells mining hardware out of Hong Kong and many observers are criticizing their involvement as they have been mining blocks in isolation since the initial creation of the new currency. On top of that, a specific amount of coins are being saved for support development on top of that. The team backing this new project has tried to instill confidence in the market as potential investors also are worried about circulating the currency.
Bitcoin Gold is looking to keep most properties of the current protocol with the exception of the use of special chips for mining. This would in turn restrict the process on how new transactions are added to blockchain. For a more detailed list of it’s features, check this post.
Bitcoin Gold is also another example of an “airdropped” crypto as new coins will go to anyone who owned Bitcoin at the time of the split. The anticipation on the success of this new crypto is quite intriguing as well. The last airdropped crypto was Bitcoin Cash which gained nearly a $4 billion market cap within weeks of its release. Both traders and exchanges will be watching closely to see if this is was an abnormality or a trend.