Bitcoin Gold [BTG] April 2018 Price Predictions, Exchanges and Announcements

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16 Apr 2018, 19:10

What is Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) is a free, open-source cryptocurrency project developed by volunteer bitcoin enthusiasts. Bitcoin Gold is a proposed fork to the Bitcoin network to create a new blockchain. The new blockchain is incompatible with the existing version of Bitcoin.
Bitcoin Gold (BTG): History
The fork occurred in late October 2017, on block 491407.The purpose of the fork is to create an ASIC-resistant Bitcoin, by reusing Equihash proof-of-work algorithm from Zcash. It was first announced on 23 October 2017 and launched on 12 November 2017. The Bitcoin Gold project used a “snapshot” (state capture) of the Bitcoin blockchain at block 491 407 which means that Bitcoin Gold shares the same bitcoin history from the first to the last block.
How does it work?
Bitcoin Gold (BTG) aims to fix this monopolisation of mining by professional businesses by changing the algorithm used to solve blocks. Where Bitcoin uses the SHA-256 algorithm to mine new blocks and transactions, Bitcoin Gold uses Equihash. Both are proof-of-work algorithms, meaning they require the miner to solve a hard cryptographic puzzle to mine a block. One of the very first updates made to the Bitcoin Gold ecosystem was replay protection because a common problem with bitcoin forks is transaction replay. A replay is possible because both the original blockchain and the newly branched blockchain contain the same transaction history.
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