| Currency Name: | Bitcoin Gold |
| Image 1: | Logo-Bitcoin-Gold-RGB-300x100.png |
| Ticker Symbol: | BTG |
| Precision: | 10−8 |
| Subunit Name 1: | millibitcoin |
| Subunit Name 2: | Japanese: satoshi|italic=no[1] |
| Initial Release Version: | 0.15.0.1 |
| Status: | Active |
| Latest Release Version: | 0.17.3 |
| Forked From: | Bitcoin |
| Programming Languages: | C++, Qt |
| Operating System: | Windows, OS X, Linux |
| Source Model: | Open source |
| License: | MIT License |
| Website: | btgofficial.org |
| Block Explorer: | BitcoinGold Explorer |
| Split From: | Bitcoin |
| Hash Function: | Equihash |
| Supply Limit: | 21,000,000 BTG |
| Timestamping: | Proof-of-work |
| Block Time: | 10 minutes |
| Block Reward: | 3.125 BTG, halved April 24, 2024, at block no. 840 000.Will halve again at block no. 1 050 000 (~spring of 2028).[2] |
Bitcoin Gold (BTG) is a cryptocurrency which was created as a hard fork of bitcoin.
The stated purpose of the hard fork is to enabling mining on commonly available graphics cards which would democratize and decentralize the mining and distribution of the cryptocurrency. The cryptocurrency has been hit by two 51% hashing attacks, once in 2018 and once in 2020.
The project began as a community-driven effort with six co-founders, including lead developer Hang Yin.[3] The stated purpose of the hard fork is to change the proof of work algorithm so that ASICs (Application-Specific Integrated Circuits) which are used to mine bitcoin cannot be used to mine the Bitcoin Gold blockchain in the hopes that enabling mining on commonly available graphics cards will democratize and decentralize the mining and distribution of the cryptocurrency.
Bitcoin Gold hard forked from the bitcoin blockchain on October 24, 2017.[4]
In July 2018, Bitcoin Gold implemented a new mining algorithm which based on one which had previously been developed by Zcash. This new algorithm is called Equihash-BTG. The new algorithm requires more memory than the one that was originally developed by Zcash.[5]
Soon after the launch, the website came under a distributed denial of service attack, and received criticism from Coinbase and Bittrex for being hastily put together, as well as including a developer pre-mine.[6] [7]
In May 2018, Bitcoin Gold was hit by a 51% hashing attack by an unknown actor. This type of attack makes it possible to manipulate the blockchain ledger on which transactions are recorded, and to spend the same digital coins more than once.[8] During the attack, 388,000 BTG (worth approximately US$18 million) was stolen from several cryptocurrency exchanges. Bitcoin Gold was later delisted from Bittrex, after the team refused to help pay some damages.[9]
Bitcoin Gold suffered from 51% attacks again in January 2020.[10] In July 2020, the version 0.17.2 was released as an “emergency update” in order to elude a long attack chain originated a few days before.[11]