What Is Bitcoin Gold?
Bitcoin gold is a fork of the pioneer Bitcoin and its aim is to make Bitcoin decentralized again.
The reason for their existence is the aspects of decentralization in the aspect of mining. The team
has adopted a proof work (POW) algorithm, called Equihash, which can’t run quicker on the
specialty equipment used by Bitcoin miners. This way all users have equal access to the potential
rewards given by mining.
The team believes that there will be fair distribution. Simply, the distribution that is to take place will
be from that of their new asset, Bitcoin Gold.
The incorporation of replay protection is also one of the key aspects that are present within this
system. They have sought to ensure security via unique wallet addresses and other aspects to prevent
Bitcoin Gold is also an open source project that is created and put forth by volunteer developers.
There will only be a supply of twenty one million Bitcoin Gold that will be in existence and their
block intervals will be similar to that of Bitcoin, ten minutes. Their block size is similar to Bitcoin
1MB. Their system adjusts the difficulty per new block not every two weeks like Bitcoin. Bitcoin gold
has the implementations of Segregated Witness, Replay Protection and an unique address format.
Bitcoin Gold has professed on their site that they do not wish to be a competitor to Bitcoin and
have conducted their fork, primarily due to the centralization of mining.
Bitcoin Gold was not intended to be a violent fork such as Bitcoin Cash and others.
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