Review on Bitcoin Gold by comando lee

Name: Bitcoin Gold
Item: Bitcoin Gold
Rating: 4

September 15, 2018

Bitcoin Gold’s developers proposed the fork in order to move to the Equihash…

Bitcoin Gold’s developers proposed the fork in order to move to the Equihash consensus algorithm, and make Bitcoin Gold ASIC resistant, thereby putting the mining hash power back in the hands of individuals to a large extent.
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Pros

The Bitcoin Gold fork from the original Bitcoin blockchain took place on October 24, 2017 at block height 491407. There are any number of reasons for cryptocurrencies to experience a hard fork, including improvements to the code, differences among developers, or changing goals. In the case of Bitcoin Gold, the stated purpose for the fork was to “Make Bitcoin decentralized again.

Cons

This seems a bit redundant on the surface. Isn’t Bitcoin already decentralized? It doesn’t have links to any government, central bank, or any specific country. It is a global currency, and is controlled by the community. While all that is true, the developers of Bitcoin Gold weren’t concerned with the question of central issuance of Bitcoin. Rather they worried about the mining process and the rise of large ASIC mining operations, who were increasingly controlling the hash power of the Bitcoin network.