Bitcoin Gold (BTG) is a cryptocurrency that was created as a fork of the original Bitcoin blockchain. Launched in October 2017, Bitcoin Gold aims to improve upon Bitcoin by making mining more decentralized and accessible.
Unlike Bitcoin, which primarily relies on specialized hardware called ASICs for mining, Bitcoin Gold uses the Equihash proof-of-work algorithm, which is designed to be mined with standard graphics processing units (GPUs). This change was intended to prevent large mining pools and institutions from dominating the network, thereby promoting a more decentralized and democratic mining environment.
Key features of Bitcoin Gold include:
– **Decentralized Mining:** By using Equihash, it allows more individuals to participate in mining using consumer-grade hardware.
– **Forked from Bitcoin:** It shares many features with Bitcoin but with modifications to its consensus algorithm.
– **Replay Protection:** To prevent transactions from being replayed across the Bitcoin and Bitcoin Gold networks, specific measures were implemented.
Bitcoin Gold is one of several Bitcoin forks, each with its own goals and technical differences, aiming to address various issues within the original Bitcoin ecosystem.
