What does Bitcoin Gold do?
Bitcoin Gold (CRYPTO:BTG) emerged in October 2017 as a direct fork of Bitcoin, with a primary goal of achieving greater resistance to ASIC (Application-Specific Integrated Circuit) mining hardware. This design choice enhances its accessibility to miners relying on GPUs (Graphics Processing Units), leveling the playing field and democratizing the mining process.
The BTG network operates through a decentralized network of miners who handle transaction processing and network security. As compensation for their efforts, these miners receive BTG tokens, providing an incentive for network maintenance.
While Bitcoin Gold remains a work in progress, several noteworthy projects are in development, with the creation of a smart contract platform for BTG being a standout endeavor. This platform aims to enable the construction of decentralized applications (dApps) on the Bitcoin Gold blockchain, expanding its functionality and use cases.
The overarching objectives of Bitcoin Gold include making Bitcoin mining more accessible for GPU miners, promoting network decentralization, and fostering the growth of dApps on the Bitcoin Gold blockchain. Despite being relatively new, Bitcoin Gold's unique focus on ASIC-resistance and decentralization positions it as an intriguing contender within the broader Bitcoin ecosystem. It holds promise for both miners and users, embodying the principles of inclusivity and innovation.