Bitcoin Gold aims to correct what backers see as a serious flaw in design of original bitcoin. The Bitcoin Gold was born in August last year and it is different in two very important ways. While Bitcoin Cash, the fork that preceded Bitcoin Gold fork, was designed to resolve Bitcoin’s capacity crunch by making use of larger blocks, the Bitcoin Gold aims to tackle Bitcoin’s original flaws – increasing centralization when it comes to mining which is responsible for verifying and securing bitcoin network and transactions.
Satoshi Nakamoto created Bitcoin so that anyone would be able to take part in Bitcoin mining using their computer and in return earn some bitcoin as a reward. It was supposed to mineable by anyone and everyone. This was good in the early years but once it became more valuable, ASIC machines were created to mine bitcoin more efficiently.
Bitcoin became centralized
SHA-256 hash function is used for mining bitcoin and only ASIC machines are good enough for this. Slowly, the wealthy corporations took control over the entire hashrate. Not everyone has ASIC machine at home. This is where Bitcoin Gold shines. Everyone has a computer that is capable of mining Bitcoin Gold.
Bitcoin Gold can be mined by anyone
Bitcoin Gold can be mined using any graphics card. I have written a tutorial on how to mine Bitcoin Gold here. You can use any modern Nvidia or AMD graphics card to mine BTG coins. This is because equihash algorithm is fully compatible with the graphics cards, so the power is given to the people.
Source: bitcoinst .com
Bitcoin Gold’s Goal
The ultimate goal of the Bitcoin Gold team is to prove the viability of GPU mining as alternative PoW compared to SHA-256 mining that is used in Bitcoin. This means power is in hands of people instead of corporations with ASIC machines.
So, those are my reasons why I think Bitcoin Gold is the future of cryptocurrencies. Bitcoin Gold fulfils Satoshi’s vision of a proper, decentralized currency and gives power in the hands of people.