Bitcoin Gold’s development team has vowed to release daily updates in an effort to help push the project and has announced that they will release a replay protection fix to prevent invalid transactions.
“In order to ensure the safety of the Bitcoin ecosystem,” the statement began, “Bitcoin Gold has implemented full replay protection, an essential feature that protects users’ coins from being spent unintentionally.”
Bitcoin Gold “has just implemented a solution called SIGHASH_FORK_ID replay protection,” the update continues. “It is an effective two-way replay protection mechanism that enforces a new algorithm to calculate the hash of a transaction so that all new Bitcoin transactions will be invalid on the Bitcoin Gold blockchain and vice versa.”
The update then points to a Github link for greater detail.
“This makes replaying transactions impossible,” the team claims.”Replay protection is a safety feature that makes sure that transactions on one chain are invalid on the other chain, thus preventing transaction replay and the possible resulting loss of funds,” the group continues.
The team asserts main net deployment will happen after they finish finalizing the services needed for the network to operate like an official mining guide, blockchain explorer, web forum, and wallet guide.
Immediate next steps include: “Launch public test net [notification through Slack]; Adjust network parameters; Prepare for main net launch; Deploy mainnet; Electrum fork; 3rd party Wallets and Exchanges integration; Decentralized mining,” though no dates were given and no timetable was suggested.
The post concludes with a mission statement of what the team says they will operate under.
“Bitcoin Gold is a community-led project to create a hard fork of Bitcoin to a new proof-of-work algorithm to make Bitcoin mining decentralized again,” they state. “Bitcoin Gold will provide an opportunity for countless new people around the world to participate in the mining process,” the team concludes.
Time will tell if the controversial Bitcoin Gold fork lives up to its promises and whether or not it will have community backing.
Bitcoin Gold is currently trading at [FIAT: $127.33 ] (BTC: 0.01763530) at the time of this writing according to Coin Market Cap.
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