As we reported last month, a single whale is holding a significant portion of Bitcoin Gold (BTG) which is put to circulation – and this whale is directly influencing the price of BTG. There were two blockchain re-organizations on the Bitcoin Gold blockchain so far, due to a secret 51% attack that took place recently. However, one glance at the Bitcoin Gold rich list shows that a new soft fork concept known as the “Cross-Chain Block Notarization Protocol” (CCBN), was recently introduced to prevent further attacks.
Basically, the Cross-Chain Block Notarization Protocol (CCBN) leverages the Notary Chain. Here, the Notarizations consist of complete BTG block headers, including the solution hashes which cannot be faked. So, when a secret miner notarizes the blocks, it becomes public and if the mining entity does not notarize, it will publish the secret chain. An attack, therefore, will be prevented due to the low weight.
Additionally, the Bitcoin Gold rich list made it possible for all of these changes to be implemented. A research found that roughly 11 million BTG is either lost forever or inactive. This is mainly due to the fact that a lot of BTC (nearly 10.7 million or more) has not been moved ever before.
Anyways, the Bitcoin news and Bitcoin Gold news are what is catching the attention of the crypto community for some time, mainly because of these reasons. And because of all this, researchers have estimated that there is nearly 7 million BTG in the market. However, the true value is somewhere near 4 to 5 million.
Sydney Ifergan, the crypto expert, tweeted: “A Bitcoin Gold (BTG) rich list probably is considered to influence the price. Researchers opine that small fishes should follow the big whales to avoid getting bitten.”
A #BitcoinGold (BTG) rich list probably is considered to influence the price. Researchers opine that small fishes should follow the big whales to avoid getting bitten.— Sydney Ifergan (CryptoSYD) (@SydneyIfergan) April 2, 2020
The organization Bitcoin Gold recently tweeted:
“$BTG is a community project, you decide what matters, and we listen to you. Many have asked about a #USDT pair in #Binance. Together we can make it possible, help us by signing the petition. We want 5000 signatures!”
$BTG is a community project, you decide what matters and we listen to you. Many have asked about an #USDT pair in #Binance. Together we can make it possible, help us by signing the petition. We want 5000 signatures! 💪
-> https://t.co/JoPFYOTtdj#bitcoingold #Bitcoin #Crypto pic.twitter.com/UbaDtJfovd— Bitcoin Gold [BTG] (@bitcoingold) April 1, 2020
Also, the Bitcoin Gold network will halve at 210,000 blocks. The BTG halving event is expected to take place on Saturday, April 18 2020, at the block height of 630,000. The network block rewards will go down from 12.5 to 6.25 coins after the halving event.