List of best and high paying Bitcoin Gold faucet list 2020. Top BTG faucet list to Earn Free Bitcoin Gold – Daily Updated Best BTG Faucet list!
Bitcoin Gold Wallet :
Bitcoin Gold Core (RECOMMEND)
Ledger Nano S (Hardware )
Atomic Wallet (Desktop/web wallets )
Payment BTG Faucet : Direct
What is Bitcoin Gold?
Bitcoin Gold is one of the newly launched cryptocurrencies that is attracting crypto enthusiasts because of its increasing usability. The coin is gaining traction because of its branding as a version of Bitcoin.
Bitcoin Gold: The Basics
Bitcoin Gold is a hard fork from the Bitcoin blockchain, but with a more decentralised and democratic mining infrastructure than Bitcoin. The Bitcoin Gold cryptocurrency is denoted by the symbol BTG. Its total supply is 17.1 million BTG.
The Bitcoin Gold mainnet was launched on 12th November 2017 after running a successful testnet.
Bitcoin Gold uses a PoW algorithm running Equihash, minable with general purpose computer hardware (GPUs). It cannot be used by ASICs designed for Bitcoin, which limits competition over limited resources from Bitcoin.
Bitcoin Gold Development
Bitcoin Gold was founded by Jack Liao, CEO of LightingAsic and BitExchange and 5 more people. The team is backed by a robust team of veteran software developers who regularly post updates. It is a community-led project that offers its users a fair opportunity to mine with ubiquitous GPUs.
Bitcoin Gold was designed to decentralize mining and to verify and validate Bitcoin transactions. All transactions of Bitcoin before the hard fork were retained and all Bitcoin holders before block 491406 were awarded an equal amount of Bitcoin Gold.
The team claims to be working to develop Equihash as a new proof-of-work algorithm and to convince the mainstream Bitcoin network to adopt it as well.
Bitcoin Gold Technology
Bitcoin Gold uses SIGHASH_FORK_ID replay protection. It enforces a new algorithm which calculates the hash of a transaction & provides a two-way replay protection mechanism. It also invalidates Bitcoin transactions on Bitcoin Gold blockchain and vice versa.
Equihash algorithm, a memory-hard algorithm allows GPU mining and prevents centralisation of currency’s value with smaller groups of wealthy investors. This makes the currency price more stable. Bitcoin’s ASICs can no longer be used for Bitcoin Gold.
Bitcoin Gold uses DigiShield V3, a difficulty adjustment algorithm to monitor the time that has elapsed between the most recent block and the median of a set number of preceding blocks. It maintains a 10-minute interval between blocks to adjust difficulty.
Decentralization: PoW algorithm decentralizes mining on Bitcoin Gold’s blockchain & restrict the use of certain specialized chips for mining. Users can mine BTG Faucet with GPUs and make it truly decentralised.
Replay Protection: This protects users from malicious attacks. It prevents transaction replay & funds loss by making transactions on one chain invalid on others.
Protection against big swings: Deviation in the total amount of hash power is prevented by the difficulty adjustment algorithm & protects against big swings in hash power.
Unique Address Format: Bitcoin Gold has changed the format of its addresses to prevent confusion with Bitcoin address. This prevents the unintended transfers of Bitcoin to a Bitcoin Gold address and the consequent loss of coins.
Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies.
In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.