About Bitcoin Gold
Bitcoin Gold was forked from the original Bitcoin blockchain on October 2017, with the goal of providing a more decentralized and democratic mining infrastructure compared to Bitcoin. Even though Bitcoin is a cryptocurrency that is already decentralized, since it is not linked to any single controlling entity, it had problems with the mining process.
Bitcoin Gold used a proof-of-work algorithm called Equihash for mining, which ensures Bitcoin does not favor major mining operations disproportionately. This means large holders of capital and specialized technology (mainly ASICs) are no longer favored over smaller miners and common technology (standard GPUs). The Bitcoin Gold is denoted by the symbol BTG and has a total supply of 17.1 million BTG.
History and Development of Bitcoin Gold
Soon after the hard fork of Bitcoin that yielded Bitcoin Gold, the website began to face a barrage of distributed denial-of-service attacks.
Bitcoin Gold was founded by Jack Liao, who is the CEO of BitExchange and LightingAsic, along with 5 other people. The Bitcoin Gold mainnet was launched in November 2017 after running a successful testnet.
One of the world’s largest cryptocurrency exchanges, Coinbase, was very skeptical of Bitcoin Gold when it launched. The exchange pointed out that the cryptocurrency is a major risk because the developers did not make the code available to the public.
There are 253 reachable nodes as of March, 2018, with the highest concentration of nodes located in Germany and the next highest levels located in the United States, France and Russia. Bitcoin Gold launched Bitcoin Gold insight explorer on February 2018.
Bitcoin Gold Technology
Bitcoin Gold uses SIGHASH_FORK_ID replay protection which enforces a new algorithm that calculates the hash of a transaction and offers a two-way replay protection mechanism. It is also able to invalidate Bitcoin transactions on the Bitcoin Gold blockchain and vice versa.
The Equihash algorithm is a memory-hard algorithm that permits GPU mining and prevents currency value centralization which puts control in the hands of smaller groups of wealthy investors. This ensures the currency price is stable. Bitcoin ASICs are no longer usable for Bitcoin Gold. Bitcoin Gold uses DigiShield V3 to monitor the time elapsed between the most recent block and the median of a given number of preceding blocks. It adjusts difficulty by maintaining a 10-minute interval between blocks.
Bitcoin Gold will be Listed on Atomars
Bitcoin Gold (BTG) has announced that it will be listed on Atomars on the 27th of November and trading pairs will be: BTG/BTC and BTG/ETH.
Atomars is the new digital assets trading platform on the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. The Atomars platform is a fast, safe, secure and user-friendly platform that seeks to make trading easy for everyone. You can find many cryptocurrencies such as Bitcoin, Ethereum, USDT, Litecoin and more on the platform. They have a web and mobile app which makes it easy and fun trading on the go.