About Bitcoin Gold
Overview
Bitcoin Gold is a cryptocurrency that appeared in 2017 as a result of the Bitcoin hard fork. BTG works on an identical blockchain, only has a different mining protocol. Developers are positioning Bitcoin Gold as a chance to end the race for mining equipment manufacturers. According to the founders of the coin, users should control the payment system.
Mining and Technology
Although Bitcoin gold developers have plans to implement transactions between blockchains, the most interesting for the crypto community is the implementation of mining. The Bitcoin Gold mining algorithm is the same as that of Zcash, and the mining process is available on computers and laptops with standard video cards. There are no own applications for mining coins yet, so you can use Zcash mining software. But at the moment, mining Bitcoin Gold on a standard hardware is already not very profitable, and it is better to use more powerful video cards.
Market and Competitors
In addition, the coin can be bought on the exchanges Binance, P2PB2B, Upbit, OKEx and others. So far, only a third-party wallet can be used to store Bitcoin Gold. The cost of the BTG coin was almost $ 500 at the start, but due to fluctuations in the crypto market, correction and low development speed of the project, the price fell, and now the coin is trading for less than $ 10. It is also associated with strong competitors like Bitcoin Cash and Zcash. The latter uses the same mining algorithm, but is more profitable and has a stronger technical potential.
Future and Challenges
The future development of the Bitcoin Gold project may be influenced by many reasons. Firstly, this is a good strategy for developers who develop the platform. The final form of the project really looks interesting and will be in demand among users. The good feedback and transparency of the founder of BTG also play a role. Due to the consensus protocol, the potential “51% attack” inside the blockchain network can be considered a drawback. Insufficient security was the reason for the rejection of listing Bitcoin Gold on several large exchanges. Until now, the non-existent official Bitcoin Gold wallet also cannot be called an advantage of the project. In general, the fate of the project depends heavily on how quickly developers can complete the project and start the working Mainnet network. And also a fundamentally important point for the project is the search for large investors who have not yet shown their interest in Bitcoin Gold.
Read more about the project at Neironix.i