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How is Bitcoin Gold (BTG) doing with the Main Net Preparations?

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Bitcoin Gold

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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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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