What is Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) is a free, open-source cryptocurrency project developed by volunteer bitcoin enthusiasts. Bitcoin Gold is a proposed fork to the Bitcoin network to create a new blockchain. The new blockchain is incompatible with the existing version of Bitcoin.
Bitcoin Gold (BTG): History
The fork occurred in late October 2017, on block 491407.The purpose of the fork is to create an ASIC-resistant Bitcoin, by reusing Equihash proof-of-work algorithm from Zcash. It was first announced on 23 October 2017 and launched on 12 November 2017. The Bitcoin Gold project used a “snapshot” (state capture) of the Bitcoin blockchain at block 491 407 which means that Bitcoin Gold shares the same bitcoin history from the first to the last block.
How does it work?
Bitcoin Gold (BTG) aims to fix this monopolisation of mining by professional businesses by changing the algorithm used to solve blocks. Where Bitcoin uses the SHA-256 algorithm to mine new blocks and transactions, Bitcoin Gold uses Equihash. Both are proof-of-work algorithms, meaning they require the miner to solve a hard cryptographic puzzle to mine a block. One of the very first updates made to the Bitcoin Gold ecosystem was replay protection because a common problem with bitcoin forks is transaction replay. A replay is possible because both the original blockchain and the newly branched blockchain contain the same transaction history.
Similar to Ethereum, the use of GPUs will be needed to mine Bitcoin Gold in place of Bitcoin’s current Asics mining machines, which have been blamed for the centralisation of Bitcoin.
Bitcoin Gold (BTG): Features
Bitcoin Gold decentralises mining by adopting a PoW algorithm, Equihash, which cannot be run faster on the speciality equipment used for Bitcoin mining (ASIC miners.) This gives ordinary users a fair opportunity to mine with ubiquitous GPUs. It has a fair distribution. Hard forking Bitcoin’s blockchain fairly and efficiently distributes a new digital asset immediately to people all over the world who have interest in crypto coins. To ensure the safety of the Bitcoin ecosystem, Bitcoin Gold has implemented full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats.
Bitcoin Gold is a free open source software project that is built by volunteer developers and supported by a rapidly growing community of Bitcoin enthusiasts that stretches around the globe.
How to buy Bitcoin Gold (BTG)?
Buying Bitcoin Gold from a cryptocurrency exchange works just like buying any other cryptocurrency. There should be a wallet to keep your coin safe. Then it can be bought from the exchanges like Coinbase, Bittrex, Binance, Coinnest etc..
Bitcoin Gold (BTG) Price Prediction 2018
In 2017 we have witnessed the surge in the price of the Bitcoin Gold (BTG). We can believe that the Bitcoin Gold will exist this year also because of two reasons that are how fast this segment has grown and the hundreds of cryptocurrencies that populate this universe. The Bitcoin Gold price today is $240.47 and the market cap value is $4,028,863,261. It had a current supply of 16,753,911 BTG and marked the volume as $156,999,000. So. it is the time to purchase the Bitcoin Gold which will be one of the top 10 cryptocurrencies in the market in the coming years. Bitcoin Gold news, Bitcoin Gold mining, Bitcoin Gold price, Bitcoin Gold market cap, Bitcoin Gold exchanges, Bitcoin Gold price today, bitcoin gold price chart.