Bitcoin Gold (BTG)

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Revision as of 15:09, 13 July 2020 by wiki_crypto>Zeb.dyor
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Bitcoin Gold
Ticker symbolBTG
Consensus mechanismProof-of-Work
Total supply21.000.000

Basics

  • Founded in:
  • Mainnet release:
  • Based in:

 History

Token

Launch

Token allocation

Utility

Token Details

Stablecoin

Tech

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • Built on:
  • Programming language used:

Transaction Details

How it works

Mining

Staking

Different Implementations

Interoperability

Other Details

Privacy Method being used

Compliance

Oracle Method being used

Their Other Projects

DEX

Governance

DAO

Self Funding Mechanism

Upgrades

"The team of BTG developers introduced a new soft fork concept called a “Cross-Chain Block Notarization Protocol” (CCBN) in order to thwart any 51% attacks going forward."

Roadmap

  • Can be found [Insert link here].

Audits

Bugs

Attacks

  • Got hit by a double spend attack on may 23, 2018. Exchanges lost millions.
  • "Got hit (27-1-2020) by two 51% attacks in 6 hours resulting in over $70,000 worth of BTG being double spent. According to a GitHub post by James Lovejoy, a researcher at MIT’s Digital Currency Initiative, the hard-fork of Bitcoin was hit by two deep reorganizations of over 10 blocks on Jan. 23 and 24."
  • From Bitcoin.com (6-3-2020):

"After the January 51% attack against BTG, software developer James Lovejoy noted that the miners who flipped the hashrate probably spent roughly $1,200 to rent hash from Nicehash and perform the attack. "

  • From a blog by Nic Carter: "BTG has been delisted from many of these exchanges and is widely considered an unreliable and risky chain. There have only been six commits in the last six months, and none in the last three months. Lead Developer Jack Liao has also left the project. With under 1000 transactions a day on average, BTG is as close to zombified as you can get."
  • Foiled a 51 percent attack that it had known was coming for over a week (11-7-2020).

Usage

  • According to the cryptocurrency's official website, there are 108 bitcoin gold nodes in the world. Nearly 30% of them are in Germany. 

Projects that use or built on it

Competition

Coin Distribution

"A blockchain analysis study shows that the price of BTG might be manipulated by a single whale or a few whales controlling a significant portion of the bitcoin gold in circulation.  There is 17,513,924 BTG in circulation at the time of publication, but the research underscores that it can be assumed that roughly 11 million BTG are either inactive or lost forever. This is due to the reflection of the number of BTC that hasn’t moved (10.7M+) in over a year but also certain individuals will refuse to claim a forked coin and those BTG will never see the light of day. Because of these statistics, the researcher estimates there’s probably 7 million BTG on the market although the true number could be much lower (4-5 million). “With the prior figure, one entity owns a minimum of 38% and a maximum of 48% of the supply, on one exchange,”

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].
  • Jack Liao; Lead Developer (left the project)

Funding

=== Partners ===