Company attributes
Cryptocurrency attributes
Other attributes
Bitcoin Gold is a cryptocurrency. It is a community project creating a hard fork of Bitcoin with a new proof-of-work algorithm. It aims to make the Bitcoin mining decentralized again.
It changed the proof-of-work algorithm from the SHA-256 algorithm to Equihash. The difference between the two algorithms is that Equihash is more ASIC-resistant than SHA-256, meaning that mining Bitcoin Gold profitably does not require the purchase of specialized equipment. This enables a new class of individuals and businesses to participate in Bitcoin Gold mining. The SHA-256 algorithm is a common GPU, and is accessible for a wider population than ASICs, which tend to be far more expensive and only attainable by major miners.
Bitcoin Gold is a project headed by Jack Liao, CEO of LightingAsic and BitExchange. It was announced in July 2017. The fork was implemented in October 2017. It aims to compete with Ethereum, Bitcoin Cash and GPU coins.
Bitcoin Gold offers the BTG Core Wallet which is a validating node which acts as a node on the BTG network. BTG also offers a wallet through ElectrumG which is a wallet that provides a Simplified Payment Verification process allowing users to store headers rather than an entire blockchain.
