Bitcoin Gold, the latest Bitcoin fork, explained

posted onNovember 14, 2017
by l33tdawg
https://cdn.arstechnica.net/wp-content/uploads/2017/11/400-oz-Gold-Bars-AB-01-800x533.jpg
Credit: https://cdn.arstechnica.net/wp-content/uploads/2017/11/400-oz-Gold-Bars-AB-01-800x533.jpg

A new cryptocurrency called Bitcoin Gold is now live on the Internet. It aims to correct what its backers see as a serious flaw in the design of the original Bitcoin.

There are hundreds of cryptocurrencies on the Internet, and many of them are derived from Bitcoin in one way or another. But Bitcoin Gold—like Bitcoin Cash, another Bitcoin spinoff that was created in August—is different in two important ways.

Bitcoin Gold is branding itself as a version of Bitcoin rather than merely new platforms derived from Bitcoin's source code. It has also chosen to retain Bitcoin's transaction history, which means that, if you owned bitcoins before the fork, you now own an equal amount of "gold" bitcoins.

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