Decentralization Mining Matters


#1

Bitcoin Gold is a peer-to-peer cryptocurrency that is described as a decentralized currency owned by its users. In its basic form, it operates in the same way Bitcoin blockchain operates, but with the addition of extra features that includes an ASIC resistant Proof of Work (POW) function called Equihash.

mining-centralization

The Bitcoin Gold’s team is of the opinion that ASIC-resistance helps achieve a fairer, decentralized and a more democratized currency for both the miners and the users. Bitcoin Gold thus, remains loyal to the vision of cryptocurrency. That is; A financial system owned by its users, the people’s coin.

Not regulated by corporations

As a result, Bitcoin Gold is not regulated by banks or large corporations or any mining hardware manufacturers. They allow its users to mine cryptocurrency on their own without the need of extensive knowledge and transfer between people over the Internet.

Customer interest

Bitcoin Gold team is working in the interest of its customers and is ensuring proportionate transaction fees distributed between numerous miners. To keep mining of this cryptocurrency impartial and simple, the team of Bitcoin Gold doesn’t permit ASICs in their network. This allows enduring security and reasonable distribution of the currency.

The algorithm of Bitcoin Gold is designed in a manner that defies the need for development of multipool mining and custom mining hardware. This will ensure that transactions are authenticated by an extensively distributed network.

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Post of the Month - November 2018