Review on Bitcoin Gold by Olugbenga Ajayi
BCG us rather too vulnerable
Bitcoin gold is a second hard fork of Bitcoin following Bitcoin Cash. The hard fork took place in 2017. It is an open source decentralized digital crypto currency that should serve the same purpose like butcoin, ethereum and other major crypto.
In comparison to Bitcoin, Bitcoin cash and BCV, BTG use a different mining algorithm which according to the developer would make it possible for miners to mine with GPUs instead of ASIC devices. This improvement has not in anyway result positively for the BTG because it has suffered 51% attack twice, one in 2018 and the other very recently.
The transparency of the team has also been brought to question. Investors are of the opinion that likely there is a secret algorithm being used by attackers rather than the equiahsh 144,5 or zhash.
Pros
- Mining Bitcoin gold is faster and cheaper and can be done with GPUs instead of Asic devices
- The project is open source and can be verified
- It allow miners to earn more than they would if it were with Bitcoin algorithm
Cons
- It has been attacked twice thereby failing the test of reliability
- The team behind it have lost the trust of investors
- The mining algorithm may really need to be changed
