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How is Bitcoin Gold (BTG) doing with the Main Net Preparations? - Global Coin Report
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How is Bitcoin Gold (BTG) doing with the Main Net Preparations?

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Bitcoin Gold
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Bitcoin Gold is another digital asset that has chosen to go for independence by taking steps towards launching their own main net network. Bitcoin Gold is preparing for the main net launch that should arrive in less than a week. Prior to releasing the main net, this golden Bitcoin offspring has gone forward with initializing test net testing as well as upgrading their Proof of Work protocol.

Bitcoin Gold: New Protocol and Test Net

Prior to releasing the main net, the team has pledged to update the community with regular reports on how far have they gotten with the main net preparations. That is how you can easily get an access to the list of updates published by the BTG team on their official webpage.

What the team marked as an ongoing task within the preparation for the main net is calling out to all partners who haven’t contacted the official BTG team, to do so in order to “be included on relevant technical updates”.

So far, the team has had a busy June, as they have released mining dev tools on June 8th, sharing the direct link to the Github address for all BTG users. Following the publication of mining dev tools, the team has later on published test net fork specifications, where they have described the entire process of upgrading the network.

With the listed changes, the team stressed out the fact that Bitcoin Gold, as a part of the preparations for the main net upgrade, will be using a different Proof of Work protocol, which was one of the listed specifications within the test net fork specs that were published on June 16th.

Within the specifications, the team has also stated that the old pools aren’t able to support the new protocol PoW, which is why the team is working on the current updates in the first place.

PoW is now working based on Equihash, which is a protocol launched and manufactured by one of the most well-known privacy coins in the market, ZCash.

Two days later, after the publication of test net fork specifications, the team has gone forward with launching the first test net upgrade, stating that the upgrade took place at block height 14300.

Five days ago, on June 19th, the team has made another step forward to introducing the community to the upcoming main net, so they have released the public test net pool for miners and miner developers.

Once you get an access to this public pool by simply visiting the provided address from the BTG official website, you will see that the interface of the pool looks smooth and user-friendly, describing the site, called Z-NOMP, as a project of ZClassic community, which is a hard fork of ZCash from which the BTG team took the idea of using Equihash for their PoW protocol.

In addition to missing on updating the public with the next stage of the main net preparations, which was scheduled for June 21st, where the team was supposed to go forward with publishing main net fork spec, the team instead tweeted about supporting the ultimate decentralization despite having their official webpage hijacked approximately 24 hours from the time of this writing.

The publishing of the main net fork spec should be one of the last steps towards launching the main net, alongside with having the Bitcoin Gold team working on repository updates.

Bitcoin Gold and the Main Net Launch

Prior to releasing the main net, the team obviously has a few more things to work on, since Bitcoin Gold has missed on publishing the main net fork spec, alongside with still working on repository updates.

On the matter of the upcoming g main net upgrade and the launching of the main net, the team BTG stated that the new upgrades, especially Equihash protocol upgrade, require a hard fork.

However, the team wants to skip the part where the hard fork usually produces a new generation of coins just like it is the case with ZCash and ZClassic or Ethereum and Ethereum Classic, that way keeping Bitcoin Gold as it is while successfully applying all changes.

That is how the team needs to make sure that all the parties that are involved in the process of testing the new upgrades, as able to provide positive feedback prior to releasing the main net.

The team has stated that the expected period for the main net launch is the beginning of July, however, although launching the main net could easily occur on July 1st, there is a greater probability that the main net is to become public a bit later, however still potentially at the beginning of the next month.

The team has yet to reschedule the publication of the main net fork spec, which was originally set for June 21st.

The representatives of BTG, however, did state that they are waiting for positive feedback from all parties involved in the testing of the released upgrades and changes before they can claim for sure that the main net is ready for the public launch.

Luckily, the team marked the beginning of July as the main net launch period for Bitcoin Gold.

Bitcoin Gold (BTG) Performance

Pushed down by the latest trend in the market where the majority of currencies are going down against the dollar for days already, BTG is not an exception as we can see it dropping by over -8% at this point of the market dip.

Following the latest change in Bitcoin Gold price, BTG can now be traded at the price of 23.91$, still far from its record price of around 470$ per one BTG.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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