Bitcoin Gold is a cryptocurrency that was created as a result of a hard fork from Bitcoin in October 2017. The primary goal of this split was to make Bitcoin mining more accessible to the average person. While Bitcoin mining often requires expensive hardware and significant energy consumption, Bitcoin Gold introduced a different proof-of-work algorithm called Equihash.
This change allows users to mine the currency using standard graphic processing units (GPUs) instead of specialized equipment like ASICs (Application-Specific Integrated Circuits). By enabling GPU mining, Bitcoin Gold aims to decentralize the mining process, preventing a few large operators from dominating the ecosystem.
This shift encourages more individuals to participate in the network, promoting a fairer distribution of coins. Bitcoin Gold operates on its blockchain and has its own ecosystem, making it distinct from Bitcoin. Users can store, trade, and invest in Bitcoin Gold just like other cryptocurrencies, but it is subject to its own market dynamics and value fluctuations.
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