Bitcoin Gold
Crypto Overview
Overview
Bitcoin Gold (BTG) was created in 2017 as a hard fork of Bitcoin, with the primary goal of restoring GPU mining capabilities to the Bitcoin ecosystem. The project aims to make mining more decentralized by using an ASIC-resistant algorithm called Equihash-BTG.
Intended Utility
The core purpose of Bitcoin Gold is to serve as a decentralized digital currency while maintaining GPU mining accessibility, preventing mining centralization that occurs with ASIC machines. The project maintains Bitcoin's fundamental features like a 21 million coin supply cap and 10-minute block times.
Actual Utility
Bitcoin Gold is actively used as a tradeable digital asset across various cryptocurrency exchanges. The network continues to process transactions and maintain its GPU-mineable status. While trading volume is lower compared to Bitcoin, the network remains operational and maintains its core utility of being a decentralized, GPU-mineable cryptocurrency.
Token Distribution and Governance
The initial distribution included a small pre-mine (less than 1%) for development and bounties. The majority of coins are distributed through mining rewards, similar to Bitcoin's model. The development team maintains transparency through public GitHub repositories and community updates.
Technical Development
The project continues to receive updates and maintenance from its development team. Recent improvements include enhanced security measures and network upgrades. The project maintains active GitHub repositories and regular technical updates.
Crypto Impact
To assign a comfort level investing in Bitcoin Gold from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin Gold.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.