The Bitcoin Gold (BTG) is mineable. One of the greatest interesting facts about this cryptocurrency is that it will adopt another mining algorithm known as Equicash. This mining algorithm was presented by ZCash. Thus, the new currency will be mineable by means of video cards instead of ASICs (Application Specific Integrated Circuit). On the other hand, the purpose why they came up with this idea is to offer mine back to individuals who cannot start using GPUs and CPUs to mine.
The Bitcoin Gold have maximum circulating coins of 21 million which is the same to Bitcoin. However, there will be no more than 21 million Bitcoin Gold in circulation.
On October 24, 2017, a new version of Bitcoin was made and it is known as Bitcoin Gold and it was successfully launched last November 2017. In fact, Bitcoin Gold and Bitcoin has similar goals but it will improve the existing protocol. This new version of Bitcoin looks like to be planned specifically to defy Bitcoin Cash. At first, details regarding this project is quite limited especially when it hits the internet for the very first time. But after a couple of months, more information about this development became widely accessible.
Nevertheless, it was speculated that the Bitcoin Gold may possibly the future of Bitcoin as well as an open development on the new codebase.
What Makes it Different?
The major difference of Bitcoin gold from other cryptocurrencies especially from Bitcoin is that it will use a fresh proof-of-work mining algorithm. On the other hand, the Bitcoin gold is agreed to be generated in advance. With the use of Bitcoin Gold, everybody is who is using a commonly manufactured equipment can are now allowed to mine because of Bitcoin Gold’s newest mining algorithm.
When it comes to protection, Bitcoin gold is extremely different to others because it features a replay protection. In other words, Bitcoin Gold can brand one blockchain’s transactions unacceptable on the other transaction.
Who is behind Bitcoin Gold?
The Bitcoin Gold is an open-source and free cryptocurrency project that is established by volunteer Bitcoin devotees.
Jack Liao the CEO of Hong Kong-based Lightning ASIC, who is an honest criticizer of the state of Bitcoin mining is the one who presented the idea of this cryptocurrency in July 2017. His company vends mining equipment like GPUs that is a kind of computing hardware Bitcoin gold is thought to depend on. Since this idea was introduced before this summer, the team has stretched out to take in pseudonymous main developer known as h4x3rotab and a team of five volunteers who are currently working on promoting and developing the Bitcoin Gold during their spare time.
Nevertheless, since it is an open-source project it can be tracked on Github, so if you’re interested in it you can visit the given links below.