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Bitcoin Gold Team Touts Safety Update Ahead of Coin Release
The bitcoin gold development team has announced that it is adding support for two-way replay protection ahead of the network's expected launch.
By Stan Higgins
Updated Sep 13, 2021, 7:06 a.m. Published Nov 1, 2017, 3:30 p.m.
The bitcoin gold development team has announced that it is adding support for two-way replay protection ahead of the network's expected launch.
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is a fork of the bitcoin network, created with the primary aim of restricting the use of specialized chips for bitcoin mining through a change in the code. The effort is backed by an open-source community of relatively unknown developers, as well as LightningASIC, a seller of mining hardware based in Hong Kong.
The addition of replay protection is intended to prevent users from sending both bitcoin gold and bitcoin when making a transaction meant to occur on just one chain – a necessity owing to the shared code between those two networks. Without the measure, a user might inadvertently send their coins to a different address, losing control of them in the process.
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"In order to ensure the safety of the bitcoin ecosystem, Bitcoin Gold has implemented full replay protection, an essential feature that protects users' coins from being spent unintentionally," the developers wrote in a new blog post.
The announcement of replay protection comes before bitcoin gold is available to users. Currently, the network is technically private, accessible only to the development team (who are updating the code and mining blocks as they go). In the absence of actual coins, exchanges like Bitfinex have begun trading futures connected to the cryptocurrency, which are currently trading between $140 and $170, according to CoinMarketCap.
The new blog post also indicated that a public test network will be launched sometime later today.
"[The] Bitcoin Gold team will deploy a public testnet opens to miners from all over the world in a few hours," they wrote.
Gold nugget image via Shutterstock
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- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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