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Bitcoin Gold is a distributed digital currency. It is a hard fork of Bitcoin , the open source cryptocurrency. The stated purpose of the hard fork is to restore the mining functionality with common Graphics Processing Units GPU , in place of mining with specialized ASIC customized chipsets , used to mine Bitcoin.
A central part of the bitcoin process, mining, is being controlled by a few manufacturers who sell their products to a select group of industrialized miners, centralizing the mining task and breaking with one of the core values of bitcoin - decentralization [2]. ASIC resistant GPU powered mining provides a solution, as this kind of hardware is ubiquitous, and anyone can start mining with a standard, off-the-shelf laptop computer.
The hard fork occurred on October 24th, , at block height The team did this via a rapid mining of approximately 8, blocks at However, of the K coins, some five percent were set aside as a bonus for the team, or about coins for each of the six members.
Bitcoin gold uses the memory hard equihash as proof-of-work algorithm instead of the sha But for the rest, the project follows the guidelines of the Bitcoin core project.
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