Bitcoin Gold (BTG) is one of the hard fork products of the bitcoin blockchain that appeared in October 2017 and was developed by 6 co-founders led by Jack Liao. The hard fork event began with the split or split of bitcoin which was followed by the emergence of Bitcoin Cash. More precisely, when Bitcoin Cash also experienced a split or forking, which became Bitcoin Gold.
The main purpose of the formation of Bitcoin Gold is to create a new block for miners in various parts of the world. Thus, it is possible for miners with lower budgets to stay competitive. Keep in mind that, almost all miners use sophisticated and expensive ASIC mining tools that are only controlled by large Bitcoin mining companies.
However, this problem can be solved by Bitcoin Gold where the Proof of Work type with the Equihash algorithm used by miners is a GPU (Graphics processing unit) which is relatively cheaper than Proof of Work ASIC.
However, this split or forking does not affect the work of the Bitcoin Blockchain which will continue to run as usual without any changes.
From about 21 million Bitcoin Gold that was declared, until this video was made, there are already about 17.5 million Bitcoin Gold that has been circulating in the world. Just like Bitcoin, Bitcoin Gold can be obtained through mining, however, Indodax is here to be a place for traders who want to have Bitcoin Gold easily and quickly.
History of Bitcoin Gold (BTG)
Bitcoin Gold hard fork that occurred on October 24, 2017 on block 419406
Bitcoin Gold (BTG) Utility
Bitcoin gold is used for fund transfers and payment instruments in several countries that are already legal to transact using crypto assets.
Bitcoin Gold Features
- BTGPay
It is a convenient wallet with built-in exchange, simple and secure transactions and multi-layer protection. We collected all the best features of crypto finance apps and services in this wallet for you.
