Bitcoin Gold Trading

• The creator of the BTG coin is Jack Liao, also the founder of Lightning ASIC, a computer mining firm in Hong Kong. Liao made the public announcement of the project in July 2017.
• The new protocol that Bitcoin Gold uses is called Equihash. Bitcoin uses the Secure Hash Algorithm (SHA-256 bit). BTG replaced this Algorithm with the PoW algorithm, Equihash, which is rumored to be superior, with expanded memory and even faster execution.
• It has been designed to keep the Bitcoin ecosystem safe, as BTG implements unique cryptocurrency wallet addresses and a replay protection system. It means twice the protection against hackers and malicious threats.
• It is an open-source software project. Thus it has full transparency. The project is powered and built by volunteer developers and avid Bitcoin enthusiasts worldwide.
• As Bitcoin Gold uses a decentralized mining system, it gives ordinary users an equal opportunity to mine with universal GPUs (Graphics Processing Units)

The world is full of virtual currencies. Unfortunately, blockchains like Bitcoin Gold have small proof-of-work and are vulnerable to 51% attacks, where an attacker seeks to gain control of 51% or more of the blockchain’s computing power or hash rate. Time and again, Bitcoin Gold has claimed it has executed additional safety and protective measures since the day of its launch, including full replay protection. The only aim was to protect its customers’ accounts and coins, and the blockchain has defended itself in front of 51% attacks and numerous BTG wallet thefts.

The most recent 51% attack happened in January 2020. The first January 2020 attack obtained attackers 1,900 BTG, or $19,000; in the second attack and approx. 5,267 BTG or $53,000 was stolen. But after the attack in May 2018, the loss was 388,000 BTG, and it was an approx. $18 million. The cryptocurrency exchange Bittrex chose to remove the Bitcoin Gold (BTG) blockchain. The first incident of roughly $18 million was why Bitcoin Gold updated its mining algorithm to Equihash-BTG.

You can mine both the cryptocurrencies, but Bitcoin Cash can only be mined on application-specific integrated circuit (ASIC) miners created with one specific job mining. The downside to this is that ASIC mining systems are high-speed for average miners with a household computer to keep up with, so the only option left for a commoner is to buy BCH in an exchange, or you will have to buy an expensive ASIC machine. You will also have to pay for the energy.

But! Bitcoin Gold is mined using a personal computer, but you will require an excellent graphics card and a mining customer for the operating system. Bitcoin Gold levels the playing field for everyone as it uses the Equihash mining algorithm, where ASIC becomes useless. Equihash is more memory ferocious than SHA-256, which means you cannot mine it on ASIC miners that utilize computational power to solve the hash.

The best way to mine both BTG and BCH is to join a mining pool that mines the coin of your choice. There are many cryptocurrencies to select from in the market. However, you need to pay attention to fees and how you are compensated for your mining contributions.

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