Bitcoin gold has two goals. Changing mining so ASICs or the most powerful mining computers, are no longer used. Second, BCG was developed to gain more people to bitcoin gold and free the bitcoin network from large companies with undue influence on the market.
The start of bitcoin gold was a bit shaky, but it is now officially launched.
The breakoff from bitcoin is called bitcoin gold and software for the cryptocurrency has been released on GitHub. Bitcoin gold is designed to block specialized chips used for mining. The formal launch happed after it first split from the main bitcoin blockchain.
The launch results in a long period of development of cryptocurrency that follow bitcoin cash. Bitcoin cash is a $30 billion network that broke from bitcoin this summer. Now, bitcoin gold is the latest installment of an "airdropped" cryptocurrency (a currency that allows you to sign messages and get free money in the form of crypto coins), that forked from the bitcoin chain. Bitcoin gold transfers over to those who owned bitcoin when the split occurred.
Mining has begun and there are mining pools opening up with the launch. However, distributing the software, which can be difficult in an open-ended and permission less environment, had many difficulties.
As noted in Slack channels, the opening was a mess. Nodes did not sync, blockchains had different heights, and the nodes kept resetting and erasing miner's totals. Other problems included potentially malevolent links, spam, and connection issues.
Traders were very interested and enthusiastic in the days before the launch of bitcoin gold. Different exchanges launched futures to bitcoin gold. The volatility in the price of futures surpassed $500 in value.
Futures began trading between $260 and $290, said CoinMarketCap. This is actually a decrease of 30% in a twenty-four-hour period.