Bitcoin Hard Fork: Bitcoin Gold Aims to Disrupt Mining Market

FX168 Financial News Agency (Hong Kong) reported that in about 21 hours, Bitcoin may have another fork. After Bitcoin Cash, another encrypted currency Bitcoin Gold will be born. After the SegWit2x proposal was accepted, the outside world was ready for the birth of the third Bitcoin.

(Source: BitcoinGold official website)

As the direct affected parties of this incident, various cryptocurrency exchanges have responded accordingly.

For example, Bittrex, a US-based bitcoin and token exchange, criticized the project’s lack of clarity today. The exchange notified its customers: “When considering adding new tokens to the Bittrex exchange, we examine the risks involved. Bitcoin Gold does not meet our user security standards.”

BitFlyer, Japan's largest and most well-funded bitcoin exchange headquartered in Tokyo, has revealed its intention to distribute Bitcoin Gold to users before the Bitcoin blockchain forks. The exchange also revealed its intention to launch trading services to support the new cryptocurrency. Users will be able to sell, deposit and transfer Bitcoin Gold through their bitFlyer accounts.

The explicit goal of Bitcoin Gold is to make Bitcoin mining decentralized again. The project aims to disrupt the current mining market, where the manufacturing and distribution of mining equipment has become dominated by a handful of companies.