Thanks to the recent increase in attacks that were carried out on the Bitcoin Gold network, as well as the appearance of an ASIC (Integrated circuit for specific applications) mining equipment, the team of developers of this blockchain has opted to change the mining algorithm that uses this network.
Currently they use the Equihash algorithm, which is shared with other currencies such
as Zcash, ZenCash, Komodo, Bitcoin Private, and many others. One of their main
characteristics is that it was resistant to ASICs, which helps keep mining decentralized,
the fundamental pillar of Bitcoin Gold.
The team has worked hard, in recent days, to develop this new code and in order to be able to execute it as soon as possible in the test network, before sending it to the different
sectors of the ecosystem so they can update it.
“We want this update to be ready and implemented this month, but it will not do
the network any good if we update before the wallets, the mining pools, the
exchange houses and others are ready”
This measure is not the definitive solution. The implementation is due to the recent
attacks, but the developers of BTG know they need to work to keep Bitcoin Gold
decentralized.
“This will significantly reduce the risk that ASICs put into our network. This solves our short-term security problem and gives us time to consider other LONG-TERM alternatives […] Although we know that this parameter change is not A permanent solution – this change will not stop the ASICs forever- we know that it will solve our problem for now.”
by Samuel Paz
