As the popularity of digital assets is increasing, the cryptocurrency
As the popularity of digital assets is increasing, the cryptocurrency market has become crowded with numerous tokens and coins. It becomes essential for the crypto investors to stay informed and pick the crypto-coin or token which can bring the best returns. If you are looking forward to investing in digital assets check out our post Top 5 Cryptocurrency to Invest in 2018. Before investing in cryptocurrencies make sure the cryptocurrency you are choosing must have a planned future and vision. In addition to that cryptocurrencies must have a utility and purpose which guarantee the long-term usability and growth potential of the cryptocurrency. Today we are going to tell What is Bitcoin Gold (BTG) and Is Bitcoin Gold A Good Choice To Invest In 2018?
Because of the steady performance Bitcoin Gold has become one of the top picks of the crypto investors. With the rising market capitalization, BTG has become the top 23rd cryptocurrency by market capitalization. If you look at the daily performance of the Bitcoin Gold, you will find that the cryptocurrency has a clear path of growth.
What is Bitcoin Gold (BTG)?
The top cryptocurrency Bitcoin had two major community-driven hard forks in the year 2017. The first one happened in August 2017 which resulted in Bitcoin Cash (BCH), and the next one occurred in October 2017 which leads to the formation of Bitcoin Gold (BTG). Check out What is Hard Fork? Hard Fork usually happens for a number of reasons such as to grow the customer base, or the developers have conflict and differences of goals. Bitcoin Gold stated that the purpose behind the hard fork was to make the cryptocurrency (Bitcoin) decentralized again. Though the Bitcoin Gold was introduced in October but it was officially launched in November 2017.
Bitcoin Gold is an open source blockchain cryptocurrency which splintered off the Bitcoin platform after hard fork over apparent centralization of mining. The fork happened on 24th October at block height 491407. Bitcoin Gold has various aspects of Bitcoin such as BTG has a block size of 10 minutes just like Bitcoin (BTC), and the market supply of Bitcoin Gold has been capped at 21 million coins which is again like Bitcoin. Bitcoin Gold has a different mining algorithm than Bitcoin. Like BTC utilizes the SHA-256 while BTG adopted a new algorithm which is known as Equihash. The developers of Bitcoin Gold promised to improve the original Bitcoin Core.
Bitcoin Gold Roadmap
The roadmap of 2018-2019 has a clear indication that the cryptocurrency has a bright future. According to the BTG website, the cryptocurrency has ambitious plans for expansion. BTG has set targets for every quarter like for the first quarter of 2018; the cryptocurrency has plans of open source libraries integration. For the second quarter, BTG planned to integrate a lightning network and decentralized mining through P2Pool. By the end of 2018, BTG is planning to develop sidechains and cross chain atomic swaps. In 2019, BTG has its sights on the private transaction and scholarship or research support. In the long term, Bitcoin Gold is looking forward to conducting research on smart contracts and blockchain democracy. To know more about smart contracts, check out our post, SMART CONTRACTS: A Guide For Beginners. BTG is also planning to develop a decentralized fiat-crypto brokerage network.
Is Bitcoin Gold A Good Choice To Invest In 2018?
Bitcoin Gold is one of the easiest cryptocurrency to mine in the cryptosphere. The developers of Bitcoin Gold made it so simple that any person who has CPU or GPU can do Bitcoin Gold mining. Besides the decentralised process, mining is one of the greatest selling points for Bitcoin Gold.
There are certain factors which you may consider before investing in Bitcoin Gold such as
Current market price of Bitcoin Gold
Currently cryptocurrency market is in the gloomiest phase in the history of Cryptos and BTGG is not an exception. Currently, Bitcoin Gold is trading at around $26 so buying the asset at such a low price can be an opportunity.
Restricted Supply of BTG
Bitcoin Gold has a limited supply which makes the asset as effective as money. The cryptocurrencies which have unlimited supply will not be able to function effectively as money.
Transparency of BTG Network
BTG was forked from Bitcoin which is known as one of the most secure and transparent blockchains. Since its inception, BTG is also trying its best to remain one of the most secure and transparent blockchains.
Bitcoin Gold Mining
BTG mining is one of the most lucrative things about Bitcoin Gold. The mining of BTG is very easy, and the mining speed remains almost the same on different devices, so miners do not have to invest heavily in the mining devices.
For long-term investment purpose, Bitcoin Gold can be a good choice. The cryptocurrency has secure and transparent blockchain along with clear vision and roadmap.