What is Bitcoin Gold?

Bitcoin Gold (BTG)

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We have already experienced the Bitcoin Cash and Bitcoin platforms, but are you ready for Bitcoin Gold? Bitcoin gold is a new project with the goal as that of the other Bitcoin hard fork. Created by a group and miners and developers the aim of the projects is to improve the protocol and complete a fork of the blockchain. Bitcoin Gold appears to be designed in a way to specifically challenge the Bitcoin Cash. The project is led by CEO Jack Liao who is also the CEO of LightningAsic, a Hong Kong-based Bitcoin mining firm.

What is the purpose of Bitcoin Gold?

The main purpose of Bitcoin Gold is making mining decentralized again. The project wants to provide an opportunity for countless new people to participate in the mining process around the world. They also plan to have widely-available consumer hardware that will be manufactured and distributed by reputable-mainstream corporations. It wants to build a more decentralized, more resilient, democratic mining infrastructure and a more in line with the original Satoshi’s version.

What does having Bitcoin Gold mean?

There has been a lot of controversy over what the projects really mean to the community because there is already the Bitcoin and Bitcoin cash. Many think that Bitcoin Gold is an insignificant development and a non-issue projects. Others believe its only purpose is the attempt to divide the Bitcoin community. However, Bitcoin is a genuine project that could be the future of Bitcoin. Most analysts are pointing the projects as a precedent for Bitcoin.

Advantages of Bitcoin Gold

With the aim of making a truly decentralized version of bitcoin. The Bitcoin Gold has many benefits that make the project stand out from other projects. The developers of the platform hope to open up mining to even more people. They want to achieve this by replacing the bitcoin’s mining algorithm with a different one that allows it to be mined using a graphics card. The idea behind this is to make big miners who are seen as controversial figures.

Bitcoin Gold Token

The Bitcoin Gold token is also known as the BTG. The BTG initial coin distribution is the same as that of Bitcoin Cash. The rate of the coin is 1 BTG = 1 BTC, but only for those who held BTG when block 491406 was mined. BTG can be stored on various platforms like Electrum, paper wallets, hardware wallets, Bitcoin Core, Mycelium and more. Some of these wallets offer direct access to BTG while others require additional technical steps.

 

 

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