Today, Bitcoin Gold has finally forked! Originally based on the Equihash algo, Bitcoin Gold has transited to Equihash-BTG. The goal is to make Bitcoin Gold more ASIC-resistant – the new algorithm requires 17 times the amount of memory than Equihash, which means that any existent Equihash ASICs will not be able to mine Bitcoin Gold.
According to the devs, this steep increase in memory requirements will also make it harder and pricier for ASIC manufacturers to create ASICs for Equihash-BTG in the future. Besides, the improved DAA will have a better response to hashrate swings.
The fork has not spawned a new currency. We don’t have to exchange our Bitcoin Gold tokens or anything. The only thing we have to do is to upgrade our wallet and mining software.
In this guide, I will walk you though the steps of setting up the new software required for mining, holding and trading Bitcoin Gold. Let’s get started!
I hope this tutorial helped you to painlessly set up your software for mining and trading the new BTG. The new algorithm is harder to mine, which is why, in order to compensate that, developers have lowered the difficulty to 1/100th of what it was before.
Thank you for reading. As always, your comments, suggestions and questions are welcome.Subscribe and stay tuned for further updates!
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