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What is Bitcoin Gold?

Posted by johnnorman on May 23, 2020 - 11:39am

What is Bitcoin Gold?

In todays world of cryptocurrencies there are pletora of coins many of which most of us have not heard of and any of which have already faded from the scene.
One coin that has benefited from having the "Bitcoin" in its name is Bitcoin Gold. According to the website of  https://bitcoingold.org
the story behind this is coin is:

BTG is a cryptocurrency with Bitcoin fundamentals, mined on common GPUs instead of specialty ASICs.

ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again - restoring decentralization and independence. GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have.

FOR USERS

Bitcoin gold has a broad array of partners, many of which are listed below. Places to buy BTG (retail exchanges), places to trade BTG (market exchanges), and places to hold BTG (wallets.) Make sure to sign up for updates about new partners, software upgrades, and important news.

BTG Development Roadmap

At Bitcoin Gold, we are devoted to building an open and collaborative world. We believe a powerful cryptocurrency has to not only be fast and full-featured but also needs to be fundamentally secure and decentralized. These beliefs shape Bitcoin Gold’s unique roadmap.

This page shows development progress and future plans for the Bitcoin Gold project. Items will be updated regularly as we provide bi-weekly progress reports to the community.

BITCOIN-GOLD

Bitcoin gold, the cryptocurrency fork of the bitcoin blockchain, launched on November 12. The cryptocurrency fork was originally slated for a public launch more than a week before, on November 1, but was delayed. The project will be backed by LightningASIC, a mining hardware seller headquartered in Hong Kong, as well as a community of developers worldwide.

What is the difference between bitcoin gold and the original bitcoin? On the surface, the two will be fairly similar. In fact, bitcoin gold aims to keep most properties of the original protocol. It will, however, restrict the use of certain specialized chips for mining, and it will make changes to the way in which transactions are added to a blockchain. This new project is also an example of a so-called "airdropped" digital currency, as it is one that will distribute new coins to any prior bitcoin owners who held the original cryptocurrency at the time o the split. These users will receive bitcoin gold up until the date the ledger of transactions started to differ between the two cryptocurrencies.

Bitcoin gold has come with a fair degree of controversy already, even prior to its launch. The development team was found to have been mining blocks in isolation since the new blockchain network was formally created in October, setting aside a certain number of coins to support development. This move garnered some criticism by others in the industry. The team behind this particular effort was hoping to send a sign of confidence to the broader cryptocurrency market. We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of service at launch time, the project's developers indicated in a statement.

Looking for a Bitcoin Gold Wallet?
 
Then go to:  https://bitcoingold.org/wp-content/uploads/BTG-Core-Wallet-2.png
Kevin Jacobson I see a lot of info around about Bitcoin Black, but not much on this one.
July 12, 2020 at 1:52pm
Bill Rippel Interesting article .. thanks for sharing.
May 23, 2020 at 1:34pm
Corneliu Boghian Interesant blog .
May 23, 2020 at 11:48am