Bitcoin Gold BTG

$26.39
Market Cap $ 456.238 MM (#23)
24h Volume $ 4.412 MM
Chg. 24h: 7.74%
Algo. score 3.9/5  (#67)
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Bitcoin Gold project purpose and description

Bitcoin Gold clarity of purpose

Bitcoin Gold purpose and aspects

BTG is a Bitcoin fork that is ASIC resistant (to prevent miner centralization), uique address format, and dynamic difficulty adjustment.

Bitcoin Gold additional differentiation against competition

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Bitcoin Gold categories

Digital currency

Short description

Bitcoin Gold is a fork of the Bitcoin blockchain that will occur on October 25, 2017. At the predetermined block height, Bitcoin Gold miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency will be born.

Abstract

Bitcoin Gold is a community-led project to create an experimental hard fork of Bitcoin to a new proof-of-work algorithm. The purpose for doing this is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of whom have engaged in abusive practices against individual miners and the Bitcoin network as a whole. Bitcoin Gold will provide an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations. A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision. Perhaps, if the Bitcoin Gold experiment is judged by the community to be a success, it may one day help build consensus for a proof-of-work hard fork on Bitcoin itself.

Link to Roadmap: https://bitcoingold.org/wp-content/uploads/2017/10/BitcoinGold-Roadmap.pdf
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