What is Bitcoin Gold or BCG simple and easy explanation

 Do you know Alpetkoan of Bitcoin , where you complement and understand what is Bitcoin Gold or this article through BCG must recognize the encrypted currency basis for each encrypted currency of Bitcoin . In order to find out what is Bitcoin Gold or Bitcoin Gold. It is simply a coin from the original Bitcoin that will come with the second fork of the main Bitcoin during this year. It will launch on the miner charts on October 25, when for the first time we will see a physical copy of Bitcoin via Bitcoin Gold on November 1.

What is Bitcoin Gold or BCG simple and easy explanation

The goal of the new split is to change proof-of-work mining from Bitcoin SHA256 to Equihash, an ASIC-like memory algorithm similar to mining via GPU. This would allow everyone to participate in mining, even owners of weak mining equipment, because the main Bitcoin has become a mining monopoly among the giants who own the gigantic equipment. The main developer “h4x” posted on the channel for Bitcoin Gold or BCG on the chat program slack, that the main objective of this split is to bring smaller miners into the field and make the blockchain 100% decentralized , as the big miners dominate the mining market today.

The Bitcoin split initiative and the issuance of a new version of Bitcoin Gold or BCG came from a Chinese mining company called LightningASIC, which is located in Hong Kong. It is a company equipped with mining hardware, especially LiteCoin coin mining hardware. The CEO and leader of this project in this company is Jack Liao. Interestingly, the ASIC mining equipment producer wants to implement this split. Split decisions come from China, as happened with Bitcoin Cash, resulting from the previous split of Bitmain. (Soon we will have a detailed explanation of what is the Bitcoin Hard Fork split).

Get Bitcoin Gold or BCG as happened with Bitcoin Cash:

As with the previous major split Bitcoin Cash or BCH, reduce the value of the Bitcoin that you currently have in a secure wallet before October 25, not on exchange platforms where the latter is not obligated to give you the produced currency. After October 25, every bitcoin owner in the official wallets will receive Bitcoin Gold with the same value as the main Bitcoin that you have in your wallet.

The future of Bitcoin Gold or BCG:

Since there is not much information about the available project, there are many open questions, such as what the status of the project is, in addition to the fact that the team behind it is not yet known. Also, the discussion is about block capacity. Also, this split did not receive the media power that the previous split of Bitcoin that resulted in Bitcoin Cash or BCH. This should result in the initial price of Bitcoin Gold or BCG lower than the initial price of Bitcoin Cash.

This is the second fork of the Bitcoin blockchain . Time will tell if these divisions will benefit the system or not. Where some believe that these divisions are mostly for money, while others see it as a natural development. Currently, those who own bitcoins can benefit from the fork. In the long run, there are many open and major questions that affect the credibility of the Bitcoin currencies.