What currency is Bitcoin Gold (BTG)? Learn about Bitcoin Gold in one minute
- PHPzOriginal
- 2024-07-30 17:40:02632browse
Bit Gold (BTG) is a digital cryptocurrency that was forked from the Bitcoin blockchain in 2018. Features include: Using the Equihash mining algorithm, which is different from Bitcoin’s SHA-256. The initial supply is 21 million coins, but the circulating supply varies. Transaction confirmation time is 10 minutes, the same as Bitcoin. The block size is 2MB, which is larger and can handle more transactions. The price is more volatile, much lower than Bitcoin. Uses include investing, store of value, online purchases and money transfers.
What currency is Bitcoin Gold (BTG)?
Bit Gold (BTG) is a digital cryptocurrency that was created through a fork of the Bitcoin blockchain on October 25, 2018.
Detailed Description:
- Fork Origin: Bit Gold was forked from the Bitcoin codebase when a group of miners decided to create a new version with a different mining algorithm.
- Mining Algorithm: Bit Gold uses the Equihash mining algorithm, which is different from the SHA-256 algorithm used by Bitcoin. This results in the two currencies having different mining difficulties and block times.
- Supply: The initial supply of Bitcoin Gold is 21 million, the same as Bitcoin. However, due to different allocations at the time of the fork, their circulating supply is different.
- Transaction Confirmation Time: The average transaction confirmation time for Bitcoin Gold is 10 minutes, the same as Bitcoin.
- Block Size: Bit Gold’s block size is 2MB, which is larger than Bitcoin’s 1MB. This allows it to process more transactions.
- Price Performance: The price of Bitcoin Gold is highly volatile, but is generally much lower than Bitcoin.
- Applications: Bit Gold is primarily used as an investment and store of value, but it also has some practical uses, such as online purchases and money transfers.
Summary:
Bit Gold is a digital cryptocurrency forked from the Bitcoin blockchain, with a different mining algorithm, block size, and circulating supply. It is a more volatile investment option, but it offers an interesting option for those looking for an alternative to Bitcoin.
Bitcoin Gold Latest Price Trend Overview
As of 13:00 on July 30, 2024, the latest price of Bitcoin Gold (BTG) was $27.37. Its trading volume was $30.41 million in the past 24 hours and the price fell by 0.22%.
Factors Driving Price Changes
Lack of confidence in the cryptocurrency market has caused BTG prices to fall recently. Macroeconomic factors, such as continued high inflation and interest rate hikes by the Federal Reserve, have also affected investment sentiment across the market.
Future Price Trend Analysis
If cryptocurrency market sentiment continues to improve and macroeconomic conditions improve, BTG price may rebound. However, if the current negative sentiment persists, prices could fall further.
Investor Advice
Investors should carefully consider market risks before investing in BTG. Markets are volatile and price movements can fluctuate widely.
Short-term trend forecast
In the short term, BTG may continue to be affected by market sentiment. Prices are likely to fluctuate within a narrow range until macroeconomic factors become clearer.
Indicator
- Current price: $27.37
- 24 hour trading volume: $30.41 million
- Price change (last 24 hours): -0.22%
- Circulating supply: 17.51 million BTG
- Maximum supply : 21 million BTG
- Total supply: 17.51 million BTG
- Circulation market value: US$479 million
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