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What is Bitcoin Gold (BTG) and how does it work?

by Financial Economy

Bitcoin Gold (BTG) is a cryptocurrency created after the Bitcoin hard fork that occurred at block 419406 on October 24, 2017. BTG, short for Bitcoin Gold, basically changed Bitcoin’s proof of work algorithm from SHA-256 to EquiHash. EquiHash is also used by Ethereum, zCash, Zencash and Hush cryptocurrencies and is mined by graphics cards (GPU). Detailed information on what is Bitcoin Gold (BTG) and how does it work, how to buy, can it be mined, etc. is included in the continuation of the content. You can browse here for information about Digibyte coin (DGB).

What is Bitcoin Gold (BTG) and how does it work?

One of the most important features that distinguishes Bitcoin Gold from Bitcoin is its purpose. Its goal is to be a more reliable and flawless cryptocurrency than Bitcoin. Bitcoin Gold, which entered the market for this purpose, is designed to be very resistant to miner devices called ASIC. Bitcoin Gold (BTG) uses the Equihash algorithm with the PoW algorithm.

All algorithms used by BTG are known for being resistant to ASICs and being usable in Zcash. The purpose of this main and structural change need is to provide Bitcoin mining with CPU and GPU instead of paid applications as in the early days.

BTG is designed in such a way that a total of 21,000,000 will be mined and mined, just like Bitcoin. The 1% slice of Bitcoin Gold has already been mined, and the coins from the mining process are said to be in the hands of the owners of Bitcoin Gold. In addition to distrust, this situation has led to the possibility of many Bitcoin Gold users being defrauded.

So how to buy Bitcoin Gold (BTG)? Bitcoin Gold is listed by many cryptocurrency exchanges. BTG can be purchased from these exchanges, but it is useful to research the reliability of the exchange used before trading and to trade from reliable exchanges.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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