#102. Bitcoin Gold (BTG)
Price of 1 Bitcoin Gold (BTG) = $25.39 AUD
Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies. In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.There have several features such as decentralization. Bitcoin Gold decentralizes mining by adopting a PoW algorithm, Equihash-BTG, which cannot be run on the specialty equipment used for Bitcoin mining (ASIC miners.) This gives ordinary users a fair opportunity to mine with common GPUs. Besides, there have fair distribution. Hard forking Bitcoin’s blockchain fairly and efficiently distributes 16.5 million BTG immediately to people all over the world who have interest in cryptos. Other methods, such as creating coins with a new genesis block, concentrate ownership within a small group. There also have a replay protection. To ensure the safety of the Bitcoin ecosystem, Bitcoin Gold has implemented full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats. Most new mineable cryptocurrencies involve ASIC-resistant hashing algorithms, and it’s becoming something of an industry standard to promote decentralization. In that respect, Bitcoin Gold holds a lot to be excited about. At its core, it’s about transitioning the Bitcoin network to more decentralized mining. However, as we saw above, there’s not much evidence that the current Bitcoin mining system is broken. There have been some small complaints, and it’s not ideal that the network is so centralized. Nevertheless, miners on Bitcoin have a lot to lose if they wield their power too aggressively. There are also new entrants to the Bitcoin mining community that are decentralizing control from a few key ASIC farms. The general consensus from Bitcoin experts is there’s not enough new in Bitcoin Gold to warrant an independent investment. While it certainly doesn’t hurt to hold onto your free BTG that you receive as a result of the fork (if you owned Bitcoin before Oct 24), wait until the dust settles before deciding whether to buy more."
BTG Price Analysis
The price of BTG has gone up 2.89% in the past 24 hours.
Bitcoin Gold (BTG) is a cryptocurrency. Users are able to generate BTG through the process of mining. Bitcoin Gold has a current supply of 17,513,923.589. The last known price of Bitcoin Gold is $7.91 USD and is down -1.70% over the last 24 hours. It is currently trading on 83 active market(s) with $4,528,487.6 traded over the last 24 hours. More information can be found at https://bitcoingold.org/.
Information & prices last updated 48 seconds ago. For latest Bitcoin Gold prices and information visit swyftx.com.au
Top 10 Performing Cryptos Of The Week, 22-29 May 2022
3 weeks ago via Crypto News Australia
JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund and PayPal hints at more crypto involvement: Hodlers Digest, May 22-28
3 weeks ago by Cointelegraph
Bitcoin Gold Price Prediction 2022-2030: Is BTG A Good Investment?
4 weeks ago by Cryptopolitan
What Is Bitcoin Gold? BTG Token Rose 40% during a Market Collapse?
4 weeks ago by CryptoTicker
Nasdaq partners with XP to launch cryptocurrency exchange in Brazil
1 month ago by Cointelegraph
Information and prices shared on this web page may not be assumed as correct, nor used as financial advice. Please do your own research before investing. And you can help us keep this up-to-date report outdated information to us. Thank you.