Bitcoin Gold (BTG) current price is $28.66 with a marketcap of $499.85 M. Its price is -3.27% down in last 24 hours.
- Bitcoin Gold (BTG)
- Live Price $28.66
24h % -3.27%
- Market Cap$499.85 M
- Volume$457.11 M
- Available Supply17.44 M BTG
More Info About Coin
Bitcoin Gold operates similarly to Bitcoin, save for an enhanced blockchain technology which allows free and decentralized mining. Bitcoin Gold can also be referred to as BTG. BTG’s total supply is 17.369 million. Bitcoin Gold’s blockchain transactions and wallets are made of pseudonyms.
Wallet owner’s identity remains anonymous, but owners can verify where the funds originated and where they are destined. For you to mine BTG coins, your computer must have GPU graphics cards. BTG has low trading gee and a high number of transactions per second since it uses dedicated side channels on its integrated Lightning Network.
History of Bitcoin Gold
BTG was released into the market back in November 2017. This altcoin is a Bitcoin’s fork. Bitcoin’s blockchain was broken into two distinct mining methods when its blocks clicked 491406 when BTG blocks were first created. Unlike the previous blocks, these new blocks were using proof of work algorithms.
BTG allowed the continued use of Bitcoin for trading until it gained total autonomy to avoid loss of investment by users. Consequently, users who had not exhausted their Bitcoin balances were given an opportunity to have their Bitcoin Gold accounts credited with funds.
Purpose and Use of Bitcoin Gold
Bitcoin Gold’s developers envisioned the altcoin to operate on a different technology from other cryptocurrencies. BTG was created to be an open source currency, thus differs in mining from Bitcoin. BTG has a more decentralized and democratic way of mining compared to the Bitcoin since it is a hybrid system. BTG’s infrastructure allows mining of coins using classic Graphics Processing Units (GPU) instead of specialized ASCI chipsets which are less common among miners and investors.
Soon after Bitcoin Gold’s introduction, many investors bought it due to its low price and promising potential. BTG was designed to enable decentralized mining, verify and validate BTG transactions. All BTG transactions before the new crypto coin were retained while all investors who had Bitcoins appearing before block 491406 were given BTG coins of equal value to Bitcoins previously held.
Features of BTG
Decentralization: BTG uses an Equihash combination which helps prevent currency centralization making its prices to remain stable. BTG’s blockchain has decentralized mining, and only specialized GPU chips can be used for mining.
Replay Protection: BTG investors are protected against malicious attacks using replay protection. Replay protection makes it hard for transactions to be replicated or transfer of funds to invalid nodes since it has end-to-end protection.Big swings protection: Any variance in harsh power total amount is avoided through difficulty adjustment algorithms. Security while trading is a crucial consideration when dealing with virtual currencies.
Unique Address Format: Transactions in BTG are protected using SIGHASH_FORK_ID protection. A new combination is used to calculate every transaction’s hash thus providing two-way protection. BTG uses a different address format with that of Bitcoin to avoid confusion when transferring cryptocurrencies which would lead to funds loss. Bitcoin's ASICs combination cannot be used to trade using BTG coins.
At present, there is a low demand for BTG coins. However, this cryptocurrency has a very promising potential since it is supported by many cryptocurrency Exchange platforms including Coinbase, Evonax, and Kraken among others. BTG’s high acceptance rate among cryptocurrency platforms is due to its democratic mining and altered block time. Potential investors need to first conduct extensive research on the cryptocurrency market due to its volatile nature to avoid making losses occasioned by currency fluctuations. By September 2018, Bitcoin Gold’s market cap stood at $433 million.
The team behind Bitcoin Gold
Bitcoin Gold’s co-founders include Jack Liao, Robert Kuhne, Alejandro Rehojo (project manager), Martin Kuvandzhiev (Developer), and Franco Niables (lead designer). Besides its founders, BTG has employed a robust team of professionals for its day to day running. Jack Liao is Chief Executive Officer at LightingAsic and BitExchange. BTG’s development team is diverse since its founders are drawn from different social-economic backgrounds.
Bitcoin Gold has a bright future in the cryptocurrency market. BTG’s interoperability among various platforms makes it a favorite among user. Besides interoperability, BTG is a low denomination cryptocurrency, thus within reach of small investors which helps increase its circulation. BTG's enhanced security features help protect investors and also makes transactions discrete.
Pros & Cons
|Implement “proof of work” algorithm which is optimized for GPU mining||Just another copy of Bitcoin|
|Has achieved a lot in short time-frame in terms of association with exchanges and wallets||Bitcoin Cash only has 12% of market, Bitcoin Gold could be equally small and thus its purpose and influence might not be met|
|No single mining firm can unduly influence the network|
BCrypto Investment Tip
I'm a big fan of Bitcoin, but this is not Bitcoin. It's just another one of those fake Bitcoins created by someone wanting to get rich the easy way by copying the king. Many people will disagree and claim that Bitcoin Gold is better than Bitcoin and that it will overtake it one day, but all I can say to this is, bullshit. None of the fakes will stay at the top for too long as people start to educate themselves about cryptocurrencies and as they will start to invest in actuall cryptocurrency project that have a future.