What are the key differences between bitcoin gold and the original bitcoin?

3 answers

• Dec 28, 2021 · 3 years ago
  Bitcoin gold is a hard fork of the original bitcoin that occurred in October 2017. It was created to make mining more accessible to individual miners by using a different mining algorithm called Equihash. This algorithm is resistant to ASIC mining, which means that it can be mined using regular GPUs. On the other hand, the original bitcoin uses the SHA-256 algorithm, which requires specialized ASIC mining hardware. Bitcoin gold also implemented a new difficulty adjustment algorithm to ensure a more stable and fair mining process. In terms of market value, bitcoin gold has a lower market capitalization compared to the original bitcoin, but it still holds a significant position in the cryptocurrency market.
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• Dec 28, 2021 · 3 years ago
  The main purpose behind the creation of bitcoin gold was to decentralize the mining process and make it more accessible to individual miners. By using the Equihash algorithm, bitcoin gold aims to prevent mining centralization and promote a more democratic mining ecosystem. Additionally, bitcoin gold introduced a new feature called replay protection, which ensures that transactions on the bitcoin network are not accidentally replayed on the bitcoin gold network. This feature provides an extra layer of security for users who hold both bitcoin and bitcoin gold.
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• Dec 28, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, bitcoin gold offers a unique opportunity for miners and investors. With its GPU-friendly mining algorithm, bitcoin gold allows individuals to participate in the mining process without the need for expensive ASIC hardware. This opens up mining to a wider audience and promotes decentralization in the cryptocurrency space. While bitcoin gold may not have the same market value as the original bitcoin, it still has a dedicated community and continues to evolve as a cryptocurrency.
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