- Bitcoin Gold, or BTG, aims to democratize the blockchain’s lucrative mining infrastructure by taking it out of the hands of big companies.
- The idea stems from the competitive nature of bitcoin mining, which now relies solely on expensive application-specific integrated circuits (ASICs). In part because of this, mining has centralized into the hands of large mining companies, which bitcoin gold supporters feel works against bitcoin’s key value proposition: decentralization.
- According to Coinbase, 100,000 Bitcoin Gold coins will be mined by the Bitcoin Gold team before the software is released to the public. The network will not be usable by the public until this code is released.
- The split occured on 24 October, after block 491,406 was mined. The Bitcoin Gold (BTG) protocol was launched.
- The official website is btcgpu.org
- Hong Kong-based businessman Jack Liao (42 years old) is the man behind the crptocurrency.
- Most reputable exchange sites are still wary of Bitcoin Gold. This is because Bitcoin Gold’s codebase is still at the moment of this writing, incomplete.
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