Bitcoin Gold update: BTG Live price, price chart, news and markets

The BTG price update as of now is $0.4545. In the previous 24 hours, its trading volume was $1,414, and its value has decreased by -0.13%. As of now, BTG's live market cap is $7,890,526, and it is ranked as the #1493 on the Coincu. BTG has a circulating supply of 17,458,599 and a maximum supply of 17,458,599.

Bitcoin Gold, commonly known as BTG, was created in 2017 as an alternative to Bitcoin that offers a more user-friendly experience. The main objective of the BTG network is to combine the security and reliability of the Bitcoin blockchain with the potential for innovation and progress.

BTG aims to enhance and expand the world of cryptocurrencies by offering a blockchain that is closely compatible with Bitcoin but operates independently from Bitcoin's resources, such as hash power. Furthermore, BTG does not aim to compete with Bitcoin as the "real Bitcoin." Instead, the company's goal is to provide a coin that has the implementation capabilities of Bitcoin while also providing greater opportunities for developers in DeFi (Decentralized Finance) and DApp (Decentralized Application) fields to utilize the coin.

Founders of Bitcoin Gold

The founders of Bitcoin Gold consist of a group of passionate individuals with diverse backgrounds and skills. Hang Yin, one of the co-founders and lead developers, earned a degree in computer science from Fudan University in 2015 and began his professional career as a software engineer at Google. After three years at Google, Yin ventured into entrepreneurship by starting Bitcoin Gold. In 2018, he also played a role in the establishment of HashForests.

Martin Kuvandzhiev, another co-founder of Bitcoin Gold, serves as a board member at the company. He graduated with a degree in computer software engineering from the Technical University of Sofia. Kuvandzhiev's professional journey began as a food service worker at McDonald's. Later, he became an assistant professor at the Technical University of Sofia in 2015 and worked as a lead iOS developer at phyre JSC in 2016. Alongside co-founding Bitcoin Gold in 2017, Kuvandzhiev also launched another company called GoStartups.net. Currently, he holds the position of CEO at Assetify.

Unique Aspects of Bitcoin Gold

Bitcoin Gold stands out by combining the fundamental properties of the original Bitcoin blockchain with an innovative approach to blockchain development and applications. As a hard fork of Bitcoin, BTG aims to address the scalability issues faced by Bitcoin by introducing a new proof-of-work algorithm.

Being an open-source protocol, Bitcoin Gold allows developers to actively participate in the governance and development of the blockchain. The company believes that this level of decentralization is crucial and addresses one of the major challenges faced by Bitcoin.

Bitcoin Gold is one of the earliest hard forks of the original cryptocurrency, which has attracted the attention of institutional and enterprise investors. BTG is available on various exchanges, swap services, and wallets. Additionally, Bitcoin Gold has been adopted by several online browsers and service providers.

Security Measures in the Bitcoin Gold Network

As a hard fork of Bitcoin, Bitcoin Gold relies on the proof-of-work (PoW) consensus mechanism. However, one of the main goals of BTG was to revolutionize the mining process by introducing the Equihash PoW algorithm, which favors GPU mining instead of ASIC miners used by the Bitcoin blockchain.

In contrast to the Ethereum blockchain, which utilizes the proof-of-stake (PoS) mechanism and prioritizes stakeholders, Bitcoin Gold emphasizes the processing power of miners. The Equihash algorithm used by BTG requires more memory than ASICs can provide but performs efficiently on numerous graphics cards.