1 Level
22 Review
20 Karma
Review on Bitcoin Gold by Lenon Cabrera
It is a project with a good idea, which sought to follow the origins of Bitcoin…
It is a project with a good idea, which sought to follow the origins of Bitcoin, returning the power of casual mining to users, however the problems of vulnerability of the chain have caused much distrust around it which makes this project is Unreliable when making an investment.
Pros
- The Bitcoin Gold project is a Bitcoin Hard Fork, which allows to extract Bitcoin Gold more easily with GPU, This cryptocurrency has implemented a new PoW algorithm called "Equihash", which returns to decentralize mining with a machine-resistant algorithm specialized in ASIC mining. The adjustment of the difficulty implemented in BTG is done every 2016 blocks, also the difficulty average is measured every 10 minutes according to the processing of the blocks in the chain. Simply this project redesigns all the infrastructure that Bitcoin does not have, giving it a more distributed and decentralized design within the chain, where its purpose is not to compete with the leading cryptocurrency but to protect it so that it can reach all parts of the world and obtain the objective of be in the economy of all existing regions. The team behind this project, have experience in programming and development Blockchain which allowed us to devise this excellent algorithm to return the roots of the BTC that now has BTG, have a good positioning in Coinmarketcap and is listed in the exchanges with greater volume in the ecosystem.
Cons
- It has presented several problems throughout its launch, one of them was very recent since one of the most famous exchanges in its ecosystem, Bittrex, took out its currency once it learned the details of the hack that it suffered. in May of this year, committing approximately 18 million dollars, which reflects the vulnerability of it and that is undoubtedly reflected in its daily movement according to CoinmarketCap a fall in precipitous volume.
