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About Bitcoin Gold
Key Points
- Founded in 2017 as a user-friendly alternative to Bitcoin
- Aims to combine Bitcoin’s security and sturdiness with experimentation and development opportunities
- Co-founders: Hang Yin and Martin Kuvandzhiev
- Unique features: new proof-of-work algorithm, open-source protocol, and GPU-friendly mining
- Maximum supply: 21,000,000 BTG tokens
- Total supply: 17,513,924 BTG tokens
- Circulating supply: 17,513,924 BTG tokens
- Available on various exchanges, including Binance, Bithumb, Hu
About Bitcoin Gold: A Revolutionary Hard Fork
Unveiling Bitcoin Gold (BTG): A Comprehensive Overview
Bitcoin Gold was established in 2017 with the vision of becoming a more accessible and user-friendly alternative to Bitcoin. The BTG network seeks to synergize the robust security and stability of the Bitcoin blockchain with the flexibility to experiment and innovate.
BTG elevates and expands the crypto landscape with a blockchain that harmoniously coexists with Bitcoin, sans the need for resource-intensive hash power or the pursuit of the “real Bitcoin” moniker. The company’s vision is to introduce a coin that leverages the implementation capabilities of Bitcoin, while simultaneously unlocking new avenues for DeFi and DApp developers to harness the coin’s potential.
The Visionaries Behind Bitcoin Gold: Unveiling the Founders
Bitcoin Gold was established by a diverse group of enthusiasts, each bringing their unique set of skills and expertise to the table. Among them is Hang Yin, a co-founder and lead developer, who holds a degree in computer science from the prestigious Fudan University, which he earned in 2015. Following his graduation, Yin embarked on a professional journey, initially as a software engineer at Google, where he spent three years honing his skills. In 2018, he took the entrepreneurial leap, co-founding Bitcoin Gold, and later, HashForests, further solidifying his presence in the industry.
Martin Kuvandzhiev, co-founder of Bitcoin Gold and a board member, boasts an impressive background. He holds a degree in computer software engineering from the Technical University of Sofia. His professional journey, which began humbly as a food service worker at McDonald’s, took a significant turn in 2015 when he became an assistant professor at the Technical University of Sofia. The following year, he assumed the role of lead iOS developer at phyre JSC. In 2017, he co-founded Bitcoin Gold, and subsequently launched GoStartups.net. Currently, Kuvandzhiev serves as the CEO of Assetify.
Unveiling the Uniqueness of Bitcoin Gold
Bitcoin Gold embodies a distinctive fusion of the intrinsic attributes of the pioneering Bitcoin blockchain and a visionary approach to blockchain development and applications. As a hard fork of the original Bitcoin token, BTG seeks to revolutionize the mining process by introducing a novel proof-of-work algorithm, thereby mitigating the scalability issues that have long plagued Bitcoin.
As an open-source protocol, Bitcoin Gold fosters a collaborative environment, empowering developers to contribute to the governance and development of the blockchain with unbridled freedom. According to the company, this decentralized approach is a sine qua non for propelling decentralization, an area where Bitcoin faces significant challenges.
Bitcoin Gold, a pioneering hard fork of the original cryptocurrency, has garnered significant attention from institutional and enterprise investors. With its widespread availability on numerous exchanges, swap services, and wallets, BTG has also been successfully integrated by several online browsers and service providers, further solidifying its presence in the digital landscape.
The Circulating Supply of Bitcoin Gold (BTG) Coins: A Closer Look
Bitcoin Gold boasts a capped supply of 21,000,000 BTG tokens, with a total supply of 17,513,924 BTG tokens currently in existence. Notably, the circulating supply is equivalent to the total supply.
Out of the total BTG token allocation, a significant 30% was dedicated to the development of the blockchain and project infrastructure. A further 15% was reserved for ecosystem support and development, while another 15% was distributed amongst the BTG community. Approximately 20% of the total BTG token supply was set aside to cover yearly operational expenses. Additionally, close to 7% of BTG tokens were earmarked for bounties and application collaboration, while a further 5% was allocated as rewards for the founding team. The remaining 8% of tokens were utilized to cover pre-fork costs and community development initiatives.
The Security Paradigm of the Bitcoin Gold Network
As a Bitcoin hard fork, Bitcoin Gold leverages the proof-of-work (PoW) consensus mechanism. Notably, one of BTG’s primary objectives was to revolutionize the mining process by introducing the Equihash PoW, which inherently favors GPU-based mining, diverging from the Bitcoin blockchain’s paradigm.
Notably, Bitcoin’s reliance on application-specific integrated circuit (ASIC) miners is contrasted by this version of Equihash, which demands more memory than an ASIC can provide, yet operates seamlessly on numerous graphics cards. In stark contrast to the Ethereum blockchain, which employs a proof-of-stake (PoS) mechanism that favors stakeholders, Bitcoin Gold places paramount importance on the processing power wielded by miners.
Where to Acquire Bitcoin Gold (BTG): A Comprehensive Guide
As one of the pioneering hard forks of Bitcoin, BTG has garnered widespread availability across numerous cryptocurrency exchanges. Notable among these is Binance, although other reputable alternatives include:
- Prominent cryptocurrency exchanges, including Bithumb
- Huobi Global
- and Bitfinex,
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