What is Bitcoin Gold (BTG)? Understand what Bitcoin Gold is in one article

Bit Gold (BTG) is a cryptocurrency derived from Bitcoin Cash that focuses on privacy enhancement, scalability and decentralization. It adopts SegWit and RTXO technologies, increases the block size, and adjusts the consensus algorithm to provide higher privacy, better scalability, and stronger decentralization compared to Bitcoin Cash. As a digital asset, BTG can be used as a store of value, medium of exchange, and investment.

What is Bit Gold (BTG)?

Bit Gold (BTG) is a hard fork of Bitcoin Cash (BCH), created on October 25, 2018.

Origin and Purpose:

Bit Gold was created out of dissatisfaction with the governance and technical roadmap of the Bitcoin Cash team. The developers of BTG aim to create a version of Bitcoin that is more privacy-focused, scalable, and decentralized.

Technical Features:

• Privacy Enhancement: BTG adopts SegWit and Root Transaction (RTXO) technology to enhance user privacy protection.
• Scalability: It increases the block size thereby increasing the network capacity.
• Decentralization: BTG has made adjustments to Bitcoin Cash’s consensus algorithm to reduce the influence of a small number of miners.

Uses:

Bit Gold can be used for the following purposes:

• Store of Value: As a crypto asset, BTG can be held just like Bitcoin and other cryptocurrencies.
• Medium of Transaction: It can be used to purchase goods and services at merchants that support BTG.
• Investment: It can be an investment vehicle due to its potential growth and value fluctuations.

Differences from Bitcoin Cash:

Although Bitcoin Gold and Bitcoin Cash share a common origin, they have key differences in the following aspects:

• Privacy: BTG offers higher levels of privacy features .
• Scalability: BTG has a larger block size.
• Decentralization: BTG has implemented governance changes designed to reduce pool concentration.

Market Value and Availability:

Bit Gold’s market value will fluctuate like other cryptocurrencies. It is available on major cryptocurrency exchanges such as Binance, Huobi, and OKEx.

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

The above is the detailed content of What is Bitcoin Gold (BTG)? Understand what Bitcoin Gold is in one article. For more information, please follow other related articles on the PHP Chinese website!