Details

Industries

Bitcoin,Blockchain,Communities,Mining,Venture Capital

Founded date

Jan 1, 2017

Number Of Employee

11 - 50

Operating Status

Active

Bitcoin Gold is a community-led project to create an experimental hard fork of Bitcoin to a new proof-of-work algorithm. The purpose for doing this is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality dominated by a very small number of entities, some of whom have engaged in abusive practices against individual miners and the Bitcoin network as a whole. Bitcoin Gold provides an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations. A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision. They want Bitcoin to be a shared and independent currency. They don’t want any fat cat to drive Their monetary architecture. That’s why Bitcoin Gold was born, in order to bring Bitcoin mining back to the “people”.

The Bitcoin Gold organization works to support the Bitcoin Gold cryptocurrency in particular, and the cryptocurrency space in general. Current and future operations are funded by a crypto Endowment held in multi-sig time-locked wallets. Bitcoin Gold, BTG, is a cryptocurrency that began in 2017 as a fork of the Bitcoin blockchain. Because Bitcoin Gold began as a fork, it contains the full transaction history of the Bitcoin blockchain up until the fork date, including the exact balances of Bitcoins held in wallets around the world. Any wallet address holding a Bitcoin balance immediately before the the fork held an equivalent balance of Bitcoin Gold immediately after the fork. The original Bitcoin blockchain and the new Bitcoin Gold blockchain both continue onward independently after the fork, unaffected and unimpeded by each other. As a result of this process, a new cryptocurrency was born.