It all began with Bitcoin, but these days, cryptocurrency has many different prongs that spread out and cover different things. Even Bitcoin has chosen to branch out and experience several other iterations. In 2017, one of the biggest and most well-known Bitcoin forks took place and captured the attention of many. Bitcoin gold was a hard fork that came around and made a huge impact considering it was the biggest thing Bitcoin has done since it came onto the scene in 2009 and was the first cryptocurrency.
Hard forks take place for a wide variety of reasons including scaling when the customer base of a cryptocurrency grows or because of developer conflict. Bitcoin gold is said to have been created to make Bitcoin decentralized once again. While it may seem counterintuitive to want to make Bitcoin decentralized again, Bitcoin, much like all of the other cryptocurrencies is supposed to be decentralized.
The mining process was essentially the thing that kicked off Bitcoin gold which is interesting because so many people thought it was to do with central issuance. The developers over at Bitcoin believed that if they were to create a new algorithm for the mining process that the new branch would not disproportionally favour major mining operations.
The thing that inevitably determines the success of cryptocurrencies is their availability on cryptocurrency exchanges. In order to make transactions, users must be able to access the cryptocurrency on exchanges. As of March 2018, the Bitcoin gold website said that the cryptocurrency was trading live on Change Now, Evercoin, Tax, Bitsane, Bitstarex, QuadrigaCX, Cex.io, Okex, Any bits, BestRate, Bitmarket, Indacoin, CoinSwitch, Unocoin Bithumb, Bitfinex, Binance, Bittrex, HitBTC, Uphold, YoBit, Gate.io, Changelly, Shapeshift, BitBay, and Abucoins.
There are also many other additional exchanges said to be offering Bitcoin gold in the near future as well, so keeping your eyes peeled is a great idea. A number of wallets services also offer Bitcoin gold, some include, Trezor Wallet, Ledger Wallet, Exodus, Coinomi, Bitpie, Guarda, Freewallet, BTGWallet, and Kasse. Also, according to the website, as of January 2018, the cryptocurrency has been listed on 46 markets and 26 exchanges.
The future of Bitcoin gold
According to popular belief and when you visit the website itself, there are big things happening in the future for Bitcoin gold and it is said to be very exciting. There will be a large amount of research done to ensure a great future for Bitcoin gold and there are high hopes that it will greatly succeed for years to come. Like many cryptocurrencies, it has seen its fair share of controversy with the biggest hit coming within only days after the launch of Bitcoin Gold.
Days after it launched, miners even accused one of the most important developers saying Bitcoin gold added a 0.5% mining fee that was essentially hidden from the community. However, since then, its comeback has been quite ambitious and there is enough evidence to conclude that Bitcoin Gold will be here to stay, at least in the near future.