Bitcoin Gold [BTG]
Bitcoin Gold is one of the hard forks of the world’s first cryptocurrency, widely known and highly popular among crypto market participants.
In simple terms, a fork is the division of a cryptocurrency into two parts. Since bitcoin is software, the source code of which is in the public domain, anyone can use it and create a kind of “branch” of its development. Such a fork can become a worthy modification of the main currency and enter circulation on a par with it.
Bitcoin Gold appeared at the end of 2017. The goal was to make Bitcoin more decentralized than it was. The desired result was successfully achieved using a new mining algorithm — called Equihash.
What were the developers trying to achieve?
At the time of the creation of bitcoin, a lot of people could be engaged in mining. Over time, all mining pools — associations of users-miners — became controlled by several large farms in China, which can still significantly influence the development of the network. In addition, very expensive equipment became necessary for the bitcoin mining process. As a result, mining became a very difficult task, and such centralization of bitcoin made it more vulnerable to hacker attacks.
Bitcoin Gold was the solution to the problem, as thanks to Equihash, its mining could be done using the available computing power. Any computer or tablet owner can become a BCG miner. So the chances of people to receive payment for Bitcoin mining became equal again, and the injustice described above was eliminated in the form of a fork.
In addition, the developers wanted to make Bitcoin Gold a backup of the classic bitcoin in case of any damage to the network.
Differences between Bitcoin Gold and the classic Bitcoin network
The main advantage of Bitcoin Gold is the already described ability to mine coins on any computer. But there are a few more important differences worth noting:
- a new address format for cryptocurrency transfers, which should help users not to make irreversible errors during currency transactions;
- correction of the network after each subsequent block (the correction of the bitcoin network occurs only after the 2016 block).
Bitcoin Gold in Chatex
Bitcoin Gold has retained the main advantages of the original currency protocol: anonymity, inflation protection, secure transactions, and so on. If you are attracted by the advantages of BTG, you can purchase it now using our service. You can carry out the operation by following the link in the chatbot of the service, which is fully integrated into the Telegram messenger.
Chatex guarantees the convenience and safety of purchasing any cryptocurrency on our platform.