Bitcoin Gold (BTG) is a hard fork of the Bitcoin cryptocurrency, which was completed in October 2017 at block 491407. The main goal of Bitcoin Gold was to create ASIC-resistant Bitcoin by changing the SHA-256 algorithm to Equihash. Bitcoin Gold debuted at # 5 on the Coinmarketcap list.

Review

Bitcoin Gold is a hard fork of Bitcoin. This digital currency uses a Proof-of-work consensus mechanism based on the new Equihash algorithm, which is also used in Zcash. The Bitcoin Gold algorithm does not allow efficient use of specialized ASIC chips for mining coins and attracts miners using farms based on graphics chips.

The main purpose of the project, as conceived by its founder, is the decentralization of mining. By default, the block size is 1 MB.

On the day Bitcoin Gold was launched, the project team announced that they had added a security system against repeated transactions (double-spending). Interaction with some mining pools and the creation of a network for testing in a short period of time indicate that the development process of this project is very fast, including the work on the development of system security.

Perspectives

The outlook for BTG and the future prospects for this coin is very ambiguous. Most of the major market participants believe that, unlike Bitcoin Cash, the second Bitcoin fork did not make any sense.

But there are also crypto investors who believe that this cryptocurrency is an excellent vehicle for investment, which will make itself known in the future. After the launch of Bitcoin Gold, there was a stir around it. This contributed to the growth of the exchange rate. However, today, against the background of a general decline in the digital currency market, the situation is not the best. At the same time, many investors recommend buying this currency while it is available at the lowest price.

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