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What is the description of the coin?
The BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.
BTG enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power or vying for the "real Bitcoin" title. The company aims to present a coin with the implementation capabilities of Bitcoin, expanding on the opportunities for DeFi and DApp developers to use the coin. Bitcoin Gold was created to reinstate a more decentralized, democratic mining environment that Bitcoin enjoyed in its early days. In context of escalating concerns over Bitcoin mining centralization and corresponding potential network abuse, Bitcoin Gold experiments with a new mining algorithm with the hopes of informing potential future changes to Bitcoin mining. Unlike some forks, Bitcoin Gold doesn't intend to overtake Bitcoin per se, but rather to draw attention to and experiment with possible solutions for enabling retail investors to participate in mining.
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What Is Bitcoin Gold (BTG)?
Bitcoin Gold was founded in 2017 as a user-friendly alternative to Bitcoin. It aims to combine the security and sturdiness of the Bitcoin blockchain with the opportunity for experimentation and development.
Bitcoin Gold enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power. The company aims to present a coin with the implementation capabilities of Bitcoin, expanding opportunities for DeFi and DApp developers.
Who Are the Founders of Bitcoin Gold?
Bitcoin Gold was founded by a group of enthusiasts with diverse backgrounds and skills. Hang Yin is a co-founder and lead developer at Bitcoin Gold. He graduated with a degree in computer science from Fudan University in 2015. Martin Kuvandzhiev is the second co-founder of Bitcoin Gold and a board member at the company. He graduated with a degree in computer software engineering from the Technical University of Sofia.
What Makes Bitcoin Gold Unique?
Bitcoin Gold is a unique combination of the inherent properties of the original Bitcoin blockchain and an innovative approach to blockchain development and applications. As a hard fork of Bitcoin, BTG aims to revolutionize the mining process by introducing a new proof-of-work algorithm that combats scalability issues.
Bitcoin Gold allows developers to participate in the governance and development of the blockchain freely, pushing decentralization. It has attracted institutional and enterprise investors' attention and has been actively adopted by several online browsers and service providers.
How Many Bitcoin Gold (BTG) Coins Are There in Circulation?
Bitcoin Gold has a maximum supply of 21,000,000 BTG tokens and a total supply of 17,513,924 BTG tokens. The current circulating supply is equal to the total supply.
Out of the total amount of BTG tokens, 30% went towards the development of the blockchain and the project. Another 15% were reserved for ecosystem support and development, and another 15% were distributed amongst the BTG community. About 20% of the total BTG token supply was reserved for yearly expenses. Close to 7% of BTG tokens were set aside for bounties and app collaboration, while another 5% went towards rewards for the founding team. The remaining 8% of tokens went towards covering pre-fork costs and community development.
How Is the Bitcoin Gold Network Secured?
Bitcoin Gold relies on the proof-of-work (PoW) consensus mechanism. It introduced the Equihash PoW, which favors GPUs for mining, unlike the Bitcoin blockchain.
While Bitcoin relies predominantly on ASIC miners, Bitcoin Gold places importance on the processing power miners have.
Where Can You Buy Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) is available on various exchanges, including Binance, Bithumb, Huobi Global, and Bitfinex.
For more information on buying cryptocurrencies, click here.
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Popular Q&A
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