By: Bennett Garner
Only a few months after the Bitcoin Cash hard fork, the Bitcoin blockchain experienced another community-driven hard fork known as Bitcoin Gold (BTG).
Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies.
In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.
In this guide, we cover all things Bitcoin Gold such as:
- Decentralizing the Bitcoin Blockchain
- SHA-256 vs Equihash
- Who Received Bitcoin Gold?
- How to Mine Bitcoin Gold
- When Did It Go Live?
- Is Bitcoin Gold a Competitor to Bitcoin?
- Bitcoin Gold vs Bitcoin, Bitcoin Cash, & SegWit2x
- Replay Protection After a Fork
- What People are Saying About Bitcoin Gold