What is Bitcoin Gold?

Cointral Marketing Manager
What is Bitcoin Gold?

What is Bitcoin Gold?

Recently, due to the devaluation of Bitcoin, some problems had emerged between Bitcoin and Bitcoin Cash. Following these events, people, who wanted to use Bitcoin again without any attachment to any establishment, produced a new crypto currency called Bitcoin Gold with hard fork.

One of the most important features that distinguish Bitcoin Gold from Bitcoin is its purpose. Its purpose is to become a more reliable and flawless crypto currency than Bitcoin. For this purpose, they designed BTG to be highly resistant to mining devices called ASIC. Gold uses the PoW algorithm and the Equihash algorithm.

All the algorithms BTG uses are resistant to ASICs and can be used in Zcash. The purpose of this main and structural change requirement is to provide Bitcoin mining with CPU and GPU as in the early days instead of paid applications.

BTG, like Bitcoin, is designed to be extracted for a total of 21,000,000 from mining. BTG’s 1% slice has already been excavated and the coins from the mining process are said to be owned by the owners of BTG. In addition to distrust, this has created the possibility that many Bitcoin Gold users will be deceived.

How Much is Bitcoin Gold?

Bitcoin Gold, which gained a great momentum in a very short time, was around $320 in the last months of 2018. It is around ₺46.84 as of 08.10.2019. With a daily trading volume of ₺69,750,576, the market value of BTG is around ₺820,316,342.

Is BTG a Reliable Crypto Currency?

BTG team plans to implement a hard fork as a solution to two immediate problems. It will prevent these possible attacks by as much as 51% and will prevent ASIC miners from taking over the network. BTG stated that the network update required for the hard fork is in progress, and they are preparing all the components required for it.

Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.