What is Bitcoin Gold (BTG)? Learn how to mine BTG coin

• Bitcoin Gold Overview
• What is Bitcoin Gold (BTG)?
• What is the core goal of Bitcoin Gold?
• Bitcoin Gold Solutions Are Moving Towards
• Difference between Bitcoin Gold and Bitcoin
• Bitcoin Gold Security
• Bitcoin Gold project development team
• Overview of BTG coin
• What is BTG coin?
• How to get BTG coin
• A reputable and safe place to buy, sell and store BTG coin
• How to mine BTG coin
• Should invest in Bitcoin Gold (BTG) or not?
• summary

Currently, although Bitcoin Gold is a project that receives great attention from a large number of participants in the digital market, it is a controversial project. Besides, the capitalization of this project is among the top projects with the largest capitalization in the world. Let's take a look at the main information of the project.

Bitcoin Gold Overview

What is Bitcoin Gold (BTG)?

Bitcoin Gold is a project developed based on blockchain technology. The project was officially launched in 2017 and quickly received great attention from the technology world and investors. The presence of this project has greatly contributed to the improvement of Bitcoin technology. Besides, the project also helps to change the method of competition to be able to mine more rewards for miners.

The aim of the project is to solve the problems of mining in the form of the old PoW algorithm . The project uses the Equihash algorithm in the Zcash network to resist ASICs, users can conduct mining in an extremely convenient and fast way without much cost.

What is the core goal of Bitcoin Gold?

Bitcoin Gold was created with the goal of changing the way coins are mined by changing the old algorithm to PoW to optimize the mining process. After the completion stage, the project attracted many investors and helped Bitcoin Gold free Bitcoin from the tycoons trying to swallow it. The birth of Bitcoin Gold helped decentralize the cryptocurrency market. Currently, Bitcoin Gold can be considered as a hard fork for the community without consulting any companies or businesses in the market.

Bitcoin Gold Solutions Are Moving Towards

The project development team created this project with the goal of solving the problems of Bitcoin, so the first thing this project does is to thoroughly solve the problem of proprietary mining of devices. Dedicated ASICs.

At the beginning of the project, the big BITMAIN was the dominant Bitcoin mining segment in the cryptocurrency market with ASIC specialized equipment. It is this reason that makes it difficult for Bitcoin Gold miners to compete and is more likely to be lost or out of control. With the smart algorithm Equihash, Bitcoin Gold has regained its position. This algorithm solves the imbalance in the field of Bitcoin mining, helping users of the project have a fairer and more enjoyable experience.

Difference between Bitcoin Gold and Bitcoin

Bitcoin Gold and Bitcoin are easy to distinguish. With Bitcoin Gold, the project uses the Equihash algorithm instead of PoW and PoS. Miners can conduct BTG coin mining with GPU in an extremely easy and convenient way. Bitcoin uses the SHA-256 algorithm. 

In addition, the Bitcoin Gold project has a relay protection feature. In addition, for Bitcoin mining, a novelty of Bitcoin Gold is that the project will increase the difficulty for each block in accordance with the amount of GPU of the miners. 

Bitcoin Gold Security

A controversial point of Bitcoin Gold is that the security is not good. Since its launch, the project has been attacked twice and up to 51%.

The first time the project was attacked was around mid-2018. Bitcoin Gold was hacked by hackers with an amount of BTG up to nearly 400,000 BTG (total value of nearly 20 million USD), this is an extremely large loss of the project. . The project continued to be attacked for the second time in early 2020, the damage was not equal to the first time, but it was enough for the project and users to suffer for a long time.

For many users, the project's lax security has hit them hard. It is these two events that cause investors to gradually lose faith and leave the project because no one wants their information and money to be "faded".

Bitcoin Gold project development team

The project is developed by an extremely experienced and senior team in many fields. The first founder of the project is Jack Liao, he runs a famous coin company in Hong Kong. At the end of 2017, he officially left the project and ceded the leadership position to member H4X3ROTAB. 

In addition, the project is also developed by a large team of members from all over the world such as Martin Kuvandzhiev, Franco Niebles... They are all extremely experienced members in the blockchain industry.

Overview of BTG coin

What is BTG coin?

• Code: BTG
• Blockchain: Ethereum
• Standard: ERC-20
• Total supply: 21,000,000
• Circulating Supply: 17,513,924

How to get BTG coin

Investors can own BTG coin by the following ways:

• Using cash: Investors need to buy BTC through some services like Binance, Changelly to be able to transfer BTG.
• Using PayPal: Readers can use PayPal to buy BTC, then exchange it for BTG using some exchanges like OKX or Binance.
• Using Skrill: For Bitpanda users and European citizens, they will be able to buy BTG with Skrill.
• Use BTC: Readers can use transactions of exchanges that support BTG to be able to exchange BTC to BTG.
• Using Ethereum: In addition, investors can also use ETH to exchange BTG with different exchanges.

A reputable and safe place to buy, sell and store BTG coin 

Currently, BTG coin is available on many different large and small exchanges, readers can easily search for BTG coin on popular popular exchanges such as Binance, Gate.io, Huobi...

Wallets that can store BTG coins are also very diverse. Some wallets can be mentioned such as Trezor, Ledger, Guarda, ElectrumG ...

How to mine BTG coin

All users can mine BTG coins through the graphics card. Bitcoin Gold uses Equihash smart algorithm with more capacity and features than the old algorithm, the new algorithm runs on many graphics cards extremely smooth and fast. Readers can proceed to mine BTG coin in the following way:

• Step 1: Configure the device you use to mine BTG coin.
• Step 2: Find a pool compatible with BTG coin mining. These pools are the place to connect and distribute mining equipment to each other and transfer BTG.
• Step 3: Set up BTG mining.

Should invest in Bitcoin Gold (BTG) or not?

Up to now, Bitcoin Gold is still an extremely potential project and BTG coin is also growing in the cryptocurrency market. BTG coin is ranked 108th on the rankings, which is a very good ranking so far and is ahead of many other potential projects. But it can be seen that the security of this project is not high, so many people have to be wary. TraderH4 readers should consider carefully before deciding whether to invest in this project because it still has a lot of potential risks. 

summary

So through this article, readers have gained more useful information about Bitcoin Gold and BTG coin, right? There are still many other potential projects, readers, please look forward to the next issues to update more information about other equally interesting projects.

If you are interested in the Bitcoin Gold project, visit the project's communication channels:

Website | Forum | GitHub | Facebook | Twitter | Discord | Telegram | Youtube | Reddit | Medium