Bitcoin Gold (BTG)
Last Updated: 24/08/2022
Official Website: https://bitcoingold.org/
What is Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) is a cryptocurrency with similar properties to Bitcoin (BTC) that is mined using standard GPUs rather than specialized ASICs. It was founded in 2017 as a user-friendly alternative to Bitcoin. The BTG network intends to bring together the robustness, security, and features of the Bitcoin blockchain with the chance for experimentation and development.
The start-up wants to offer a coin that can be implemented similarly to Bitcoin while also giving DeFi and DApp developers more options to use the token.
ASICs sometimes restrict mining to a small number of powerful players, however GPU mining allows anybody to mine once more, re-establishing decentralization and independence. Instead of going largely to owners of ASIC warehouses, GPU mining profits are distributed to users globally, re-creating the network effects that Bitcoin once had.
The original Bitcoin blockchain's inherent qualities are combined in a special way with a cutting-edge method of creating and using blockchain apps to create Bitcoin Gold. BTG, which is a fork of the original Bitcoin coin, intends to transform mining by implementing a new proof-of-work algorithm that addresses the scalability problems Bitcoin faces.
The Bitcoin Gold Organization is a multi-national group of more than 20 individuals with a range of education and experience. In the summer of 2017, a group of six Co-Founders started it. The Board makes strategic decisions after consulting the Team and Advisors.
- Lead developer and co-founder of Bitcoin Gold is Hang Yin. In 2015, he earned a computer science degree from Fudan University. His professional career began as soon as he received his degree. Yin started working for Google as a software engineer in late 2015. Hang Yin chose to create Bitcoin Gold after spending three years working for the IT giant. He was also involved in the creation of HashForests in 2018.
- The second co-founder of Bitcoin Gold and a member of its board of directors is Martin Kuvandzhiev. After earning a degree in computer software engineering from the Technical University of Sofia, he began his career as a McDonald's server. He started working as a lead iOS developer at phyre JSC in 2016, after which he accepted a position as an assistant professor at the Technical University of Sofia in 2015. He co-founded another business named GoStartups.net after co-founding Bitcoin Gold in 2017. Kuvandzhiev currently serves as Assetify's CEO.
LN stands for Lightning Network.
- LN: Mainnet - Install a stable BTG version of lnd on the main network. There may be further LN implementations, such as c-lightning (Blockstream) and eclair (ACINQ)
- Port btcd/btcsuite - The foundation of the entire btcsuite toolkit is btcd, an alternative Full Node created in Go. It is a requirement for the creation of mobile LN wallets and is heavily utilized by lnd and Neutrino (both from Lightning Labs)
- LN: Desktop Wallet - The fantastic cross-platform Zap wallet, which offers a user-friendly desktop LN wallet UI, is supported by BTG LN. (Electrum will also get LN support.)
- LN: Mobile Wallet - Integrating BTG into RawTX since providing the LN experience on mobile will be crucial for widespread adoption (which require Neutrino.)
- BTCPay Integration of BTG Lightning Network - The finest decentralized payment gateway, BTCPay, already supports BTG, therefore adding support for BTG LN is the next step
- BTG Plasma Specification - A protocol specification, based on or expanding existing Plasma implementations, will serve as the foundation for this ambitious project
- Plasma: Mainchain Implementation - To support Plasma, mainnet changes must be evaluated and deployed, including new opcodes
- Plasma: Sidechain Implementation - Actual sidechain deployment supported by the mainchain. As a result, the Plasma sidechain can have a ton of bandwidth and execute code quickly while maintaining the mainchain's financial security
- MyCelium Wallet - Several intriguing features have been added to the long-recognized MyCelium wallet for Android and iOS, including Local Trader for exchanging coins. These capabilities will be made available to the BTG community by adding BTG functionality (and is based on the BitcoinJ library.)
- CCBN – Cross Chain Block Notarization - A decentralized method to prevent covert mining assaults by notarizing blocks to separate blockchains, giving honest mining a time reference for resolving chain splits.
Where to Store Bitcoin Gold (BTG)
For the full list of compatible wallets please visit https://bitcoingold.org/ecosystem/#wallets.
Where to Buy and Sell Bitcoin Gold (BTG)
You can Buy & Sell Bitcoin Gold (BTG) by heading over to the Buy Coins page of our website. Bitcoin Gold (BTG) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying BTG has never been easier, simply place your order and provide your wallet address. Once your payment arrives Bitcoin Gold (BTG) will be sent directly to your wallet.
If you choose to Sell Bitcoin Gold (BTG) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Bitcoin Gold (BTG) Resources
Block Explorer: https://explorer.bitcoingold.org/insight/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.