The latest trend in the cryptocurrency industry seems to be the Bitcoin forking. A significant number of new Bitcoin clones are joining the industry. There are two more Bitcoin snapshot clones to come, with the name “Bcash” and “Bitcoin God” (that’s right, God, not Gold)
We have already heard of many Bitcoin fork snapshots such as diamond, gold, rubies, and lightning. Now there are rumors that a new network named ‘Bitcoin God’ is coming.
What is a network snapshot?
A network snapshot is actually a clone of the Bitcoin’s blockchain taken at a specific block height. This way, the new blockchain has the same history as the legacy chain, but only until that precise time.
From now on the new blockchain splits off and tracks its own mined blocks and transactions. Also, the new network can obtain totally new traits. For example, Bitcoin’s PoW (proof-of-work) is different from the equihash consensus mechanism of Bitcoin Gold.
Chandler Guo, the popular Chinese digital currency investor announced he is going to launch a fork based on Bitcoin under the name “Bitcoin God”. The project is planned for the 25th of December and there will not be a premine. The total amount will be 21 million.
What is “Bcash”?
I addition, there are discussions in the crypto community about another Bitcoin fork, named “Bcash”. The project was first announced in the past August.
“Bcash” is a new digital currency that takes advantage of the existing Bitcoin ledger in combination with Zcash privacy technology.
Its developer highlighted in his announcement that “Bcash” has nothing to do with “Bitcoin Cash”. The project is a totally new network in progress. Further, he warned about scammers that are trying to scam people using the Bcash name. Bcash is not available for sale or purchase at the moment.
The cryptocurrency community still seems confused about all these new clones. However, the crypto enthusiasts aren’t negative towards the new forks, but they want to know more things about them.