Bitcoin Gold is a Bitcoin hard fork that has grown in popularity as a result of the recent Equihash mining algorithm. On October 24, 2017, the hard folk took place. The latest coin’s initial price was USD $480, but after three days, the price had fallen to USD $140.36. The token price is USD $86.71 as of April 28, 2021, with an upward trend.
In this guide, we’ll go through the benefits of the new algorithm, what Bitcoin Gold is exactly and whether or not it’s a good idea to invest in it.
What Is Bitcoin Gold
As a hard fork, Bitcoin Gold, was created in 2017. Unlike bitcoin and bitcoin cash, Bitcoin Gold employs the ‘Equihash’ algorithm. Since Bitcoin Gold is intended to be more usable than other cryptocurrencies, it mines with graphics processing units (GPUs) or graphic cards.
The aim of Bitcoin Gold is to re-establish Bitcoin mining as a decentralized method. Satoshi Nakamoto’s unwavering vision of “one CPU, one vote” has been replaced by a reality in which the manufacture and sale of mining equipment is dominated by a small number of companies, some of which have engaged in unethical practices against individual miners and the Bitcoin network as a whole.
Read more: how do you mine bitcoin Dubai and earn 50$ a day.
Features of Bitcoin Gold
Hard forking Bitcoin’s blockchain distributes a new digital asset to people all over the world who are interested in cryptocoins in a fair and efficient manner. Other techniques, such as minting coins with a new genesis block, concentrate ownership in a limited number of people.
Bitcoin Gold decentralizes mining by using Equihash, a PoW algorithm that can’t be run faster on the specialized equipment used to mine Bitcoin (ASIC miners.) Ordinary users now have a reasonable chance to mine with GPUs that are widely available.
Bitcoin Gold has introduced complete replay security and unique wallet addresses to ensure the safety of the Bitcoin ecosystem, which are important features that protect users and their coins from a variety of incidents and malicious risks.
As we know that Bitcoin Gold is a free open source software project developed by volunteers, it is funded by a group of Bitcoin enthusiasts all over the world. Thus, making it a transparent investment.
The Future of BTG
Bitcoin Gold developers are aware of the links that exist between this cryptocurrency, its parent bitcoin, and the wider world of digital currencies. “The key enhancements we’re working on are all of great interest in the wider bitcoin and crypto environments, not just for bitcoin gold,” they claim. Some of these unilaterally applicable changes, they said, could include modular ways to handle hard forks, “smart voting processes,” and decentralized decision-making for the digital currency’s growth.
Since its inception, the Bitcoin Gold project has expanded exponentially, attracting developers, miners, and supporters from all over the world. This is the reason there is a huge drift towards investment in crypto mining machines. Phoenix Store is the leading retailer and distributer of antminers in the Middle East region, visit website for more information.