A fork of Bitcoin
Bitcoin Gold is a fork of the famous Bitcoin network aimed at solving the problem of centralization of minors. This fork took place in October 2017, at block 491407. The developers took what is called "a snapshot" of the blockchain. Before block 491407, Bitcoin and Bitcoin Gold have the same history and then diverge. From a technical point of view, this new cryptocurrency is very similar to Bitcoin.
At the time of the fork, all holders of Bitcoins (BTC) were able to receive an equivalent amount of Bitcoins Gold (BTG) directly in their wallet. This is an "Airdrop", a free distribution of coins to quickly spread the chips and promote the new currency.
History of the fork
Today, the mining of Bitcoin is carried out by a small minority that has powerful machines. This computing power is completely inaccessible for individuals. Bitcoin Gold therefore intervenes to propose a solution to this problem based on a new algorithm: Equihash. It is the same algorithm used in the Zcash system, it has the distinction of being resistant to ASICS. The goal is to give members the opportunity to mine with their processors and graphics cards. At launch, there was a pre-mining of 100,000 tokens.
The DDoS attack
When it was launched, the Bitcoin Gold site was the victim of a DDoS attack and had to shut down for 4 hours. This attack has discredited BTG, cryptocurrency users having questioned the competence of the team.
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