Bitcoin Gold Blockchain

In case you are have been following the cryptocurrency, investing or banking over the last ten years, then you must be familiar with Blockchain Technology.

This is the record-keeping technology that underpins Bitcoin.

Yesterday, we talked about Bitcoin Cash Blockchain. How can Bitcoin Gold Blockchain be behind in the race?

There is a good that that it makes a lot of sense. What we all have heard so far about blockchain?

Blockchain is a distributed, decentralized, public ledger.

Well, the good news is that Blockchain is actually easier to comprehend than its definition sounds.

You May Also Read: How Does NEO Blockchain Work?

What Blockchain Really Is?

If this technology is so complex, then why call it Blockchain?

At the most basic level, blockchain is typically just a chain of blocks, but not in the traditional sense of the words.

Lets separate the words block and chain in this context. Now, we are actually talking about the digital information stored in a public database.

You May Also Read: How To Become A Certified Blockchain Expert?

Difference Between Blockchain and Bitcoin Difference Between Blockchain and Bitcoin

The primary goal of the technology is to allow digital information to be recorded and distributed, but not edited.

That notion can be daunting to wrap our heads across without seeing the technology in action, so lets take a look at how soon the application of the technology actually works out.

Blockchain technology was the first outlined in 1991 by the two researchers Stuart Haber and W. Scott Stornetta, who wanted to implement a system where document timestamps could not be tampered with.

But it wasnt until almost two decades later, that blockchain had its first real-world application with the launch of Bitcoin in January 2009.

The Bitcoin protocol is built on the blockchain. In a research paper introducing the virtual currency, Bitcoins pseudonymous creators Satoshi Nakamoto referred to it as a new Peer-to-Peer electronic cash system thats fully peer-to-peer, with no trusted third party.

You May Also Read: Blockchain Scalability Solutions Explained

Coming to Bitcoin Gold

The late 2017 was rightly termed as the Forks season, that witnessed a range of junk copies of the mainstream currencies and the successful forks like Bitcoin Gold (BTG).

The Bitcoin Gold fork lessens the impact of big miners like Bitmain, on the network and it is generally it is called the backup copy of bitcoin.

One thing about the forks is that people who have been holding tokens on main chain, can ...

Read full story on BTC Wires

Tags: Blockchain, Bitcoin, Bitcoin Gold, Coin, Bitcoin Gold, Bitcoin Cash, Adolf Hitler, Chain, Stuart Haber, Satoshi Nakamoto