Details of Bitcoin Gold

Details of Bitcoin Gold

Bitcoin's blockbuster has split for the second time and Bitcoin Gold appears. At a predefined block size, Bitcoin Gold diggers will begin to create blocks with a new proof-of-work algorithm.

What is the purpose of Bitcoin Gold?

Bitcoin Gold's goal is to return the Bitcoin yield to decentralization . The reality is that the production and distribution of specialized equipment is dominated by a small number of people. Some of them want to harm individual miners and the Bitcoin network as a whole. By altering the proof-of-work Bitcoin algorithm from SHA-256 to Equihash, Bitcoin's dedicated Bithoin diggers will not be able to work on the Bitcoin Gold network. This allows many new people around the world to participate in the digging process with widespread consumer hardware. A more decentralized infrastructure is more sustainable and closer to Satoši's idea.

How can I get Bitcoin Gold?

The original Bitcoin Gold (BTG) coin spreading method is the same as Bitcoin Cash (BCH). All Bitcoin owners who own the private key on October 25 will receive 1: 1 Bitcoin: Bitcoin Gold. If you own 1 Bitcoin, it will also receive 1 Bitcoin Gold. You must have access to the Bitcoin private key to perform Bitcoin Gold transactions. All wallets will support Bitcoin Gold, but it will take some time. One of Bitcoin Gold developers announced that Coinbase will support the coin.

How can I burn Bitcoin Gold?

You can dig yourself by using a full node client or you can dig into a pool. Some public pools can be found on the Bitcoin Gold website.

Image Source
Original article
Crypto analyzes