Hello all! In this video we will discuss what Bitcoin Gold is.
Bitcoin Gold is one of the hardfork products from the Bitcoin Blockchain that appeared in October 2017 and was developed by 6 Co-founders led by Jack Liao. Hardfork events begin with a split or separation of bitcoin followed by the appearance of Bitcoin Cash. More precisely when Bitcoin Cash also experiences a solution or forking, which is to become Bitcoin Gold.
The main purpose of forming Bitcoin Gold is to create a new block for miners in various parts of the world. Thus, it is possible for miners with lower budgets to keep competing. Keep in mind that, almost all miners use sophisticated and expensive ASIC mining tools so that only large mining companies are controlled by Bitcoin.
However, this problem can be solved by Bitcoin Gold where the Proof of Work type with the Equihash algorithm used by miners is a GPU (Graphics processing unit) which is relatively cheaper than Proof of Work ASIC.
However, this solution does not affect the work of the Bitcoin Blockchain which will continue as usual without any changes.
Of the approximately 21 million Bitcoin Gold announced, until this video was made, there are already around 17.5 million Bitcoin Gold that has been circulating in the world. Just like Bitcoin, Bitcoin Gold can be obtained through mining, however, Indodax is here to be a place for traders who want to have Bitcoin Gold easily and quickly. Want to have Bitcoin Gold? Come buy now at indodax.com, and don’t forget to subscribe to our YouTube channel.