Bitcoin Gold [BTG]’s compatible version of wallet: Aims to meet hard fork changes

Source: Ambcrypto, originally published on .

https://ambcrypto.com/bitcoin-gold-btg-compatible-version-wallet-aims-meet-hard-fork-changes/.

The Bitcoin Gold [BTG] blockchain has recently released a new version of their wallet ElectrumG 3.2.1. A recent hard fork changed its current proof-of-work [PoW] algorithm from Equihash to Equihash-BTG to dissuade Application Specific Integrated Circuit [ASIC] miners from gaining 51% hashpower and to prevent double spending.

Following these changes in the hard fork, BTG, a distributed digital currency, released the new wallet. Bitcoin Gold tweeted:

“Most $BTG wallets running fine after our successful Network Upgrade hardfork last week, but not the old #ElectrumG Beta. Easy fix: upgrade to the ElectrumG 3.2.1 full release!”

ElectrumG is a version of Electrum Bitcoin Wallet which is easy for the beginners to use. The features include:

  • Rich set of functionalities for users and developers which includes a powerful command line interface and an invoicing feature
  • Cold storage which provides the ability to create and sign raw transactions offline and then broadcast
  • Lesser space consumption compared to a node wallet

The released version is the production version of the wallet. It does not include support for hardware wallets which is said to be added in the upcoming Beta version. Bitcoin Gold’s official website stated:

”Hardware wallet support was initially planned for the 3.2.1 release, but needed to be delayed in favor of rolling out support for the Network Upgrade.”

Simplified Payment Verification [SPV] is a software that confirms one’s cryptocurrency transaction, which is recorded and becomes official without having to download and manage the blockchain. ElectrumG is lightweight as it uses SPV, meaning ElectrumG does not validate all BTG transactions and does not maintain a full copy of the BTG blockchain, therefore, it does not need hundreds of gigabytes of space.

Aurume, a Twitter user commented:

“Good job. When the idea of $BTG will be fully realized it will certainly return to the top 10.”

The post Bitcoin Gold [BTG]’s compatible version of wallet: Aims to meet hard fork changes appeared first on AMBCrypto.

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