Bitcoin Gold (BTG) are taken to a new algorithm proof of work (PoW) after the recent attack of 51% on the Protocol. In the official statement dated June 4, BTG told about changes in the blockchain, which will be implemented in the upcoming update of the network through hardwork.
The organization identified two reasons for the upgrade. The first is the need to introduce ways to enhance the security of the Protocol BTG after the attack 51%. The second reason lies in the system-wide threat of ASIC miners coming on Equihash.
The new algorithm is called Equihash-BTG. As noted
on the forum, it requires much more memory, and it aims to make ASIC mining «extremely unfavorable». With the new settings <144.5> minimum amount of RAM is increased to 700 MB, and running the algorithm requires 2.5 GB of free space. This will make mining for ASIC is very expensive. In this case, «most graphics cards that use the miners already possess the same or more memory».
Currently, the organization is testing the Protocol, but says that most of the prerequisites for the upgrade have already been encoded. In addition, developed a Protocol for the extraction, so that many people will be able to produce BTG immediately after the upgrade is complete. The exact timing of hard forks will be known in the coming days and the team will announce them at least a week.
The developers claim that warned about updating all services which it may raise, including stock exchanges, wallets, and mining pools, and also noted that the update may be delayed if developers do not receive timely confirmation from the services. Regarding security, the command reports BTG:
«We also work a lot on certain areas to improve safety, both now and in the future. We have developed a monitoring system for our blockchain and in our mining network, and created channels for early warning exchanges in case of risks.»
Finally, representatives of the organization noted that although the attack 51% is an integral part of the emerging community, the team worked together to address risks related to security. In a blog post said:
«We can report that members of the crypto community work together to solve problems and will support each other while we worked to overcome difficulties.»