In October 2017, the bitcoin blockchain was divided and a new cryptocurrency Bitcoin Gold or BTG appeared. The developers promise that all private keys that currently exist will receive the same amount of Bitcoin Gold. The first official wallet was registered on November 1, by analogy with Bitcoin Cash, which opened the wallets on August 1. Now the Bitcoin Gold wallet is not yet available. Its balance can be seen on those exchanges that support BTG hard-fork.
Bitcoin Gold cryptocurrency achieved such results by the end of 2017. The project itself was presented in July by the creator of Lightning ASIC, Jack Lao. Jack is the founder of mining farms, as well as the developer, his nickname is H4X3. He said that the main goal of the new crypto money is to improve the first protocol. The change should occur through the transition from the usual Bitcoin Gold mining algorithms to mining coins through high-speed graphics processors. The main algorithm will be replaced by Equihash. Farm owners can choose the size of the block that they want to get. They will be able to set themselves a specific goal and earn coins in the Bitcoin Gold wallet.
The main driving force behind BTG cryptocurrency is, of course, developers, miners, as well as all the participants led by Jack Lao. He is now general manager of Hong Kong mining equipment manufacturing. With it, the history of Bitcoin Gold began. Jack’s team includes another cryptocurrency tycoon from China, known as Wubi. He owns the Chinese news portal Jinse.com. The team of cryters is always ready to share the ideology and technical aspects of Bitcoin Gold with its users. Jack Lao is happy to describe the details of creating and mining a new cryptocurrency.
Current BTG to dollar rate:
Key features of the Bitcoin Gold cryptocurrency
The main task of Jack Lao is to provide the miners with the opportunity to mine electronic currency using a graphics processor instead of Eisik. This method has its advantages, namely:
- use of different graphic processes;
- ASIC bypass
- expanding the circle of users who are available for mining the new Bitcoin Gold;
- decentralized mining of crypto money;
- Reducing the impact of large companies on BTG;
- stable prospects for Bitcoin Gold;
- wide capitalization of Bitcoin Gold.
The new virtual currency also has its own slogan, which alludes to the centralization of Bitcoins: “Let’s make Bitcoin again centralized.” In this phase, and in the history of Bitcoin Gold, there is a reference to the famous political slogan calling for America to be great again (Great America). The maximum available number of coins at Bitcoin Gold is the same as that of its progenitor, –
21 million units. Mining blocks on the network takes only ten minutes. The complexity of this process is recounted after each newly appeared blockchain link. Following the example of a recent hard fork, as a result of which new Bitcoin Cash virtual money was created, holders of the well-known Bitcoin coins at the time of the separation of the chain were able to receive coins for free on their Bitcoin Gold wallets.