Bitcoin Gold (BTG) is a permissionless, decentralized cryptocurrency that resulted from an October 2017 hard-fork of Bitcoin. Like Bitcoin, mining of the total supply of Bitcoin Gold is capped at 21 million. Bitcoin Gold also implements SegWit and Lightning Network without relying on the massive hash power of the Bitcoin network. However, Bitcoin Gold differs from Bitcoin in several ways. Instead of using the SHA-256d Proof-of-Work consensus mechanism Bitcoin uses, Bitcoin Gold uses the memory-hard Equihash Proof-of-Work consensus mechanism, which is designed to be ASIC-resistant yet easily mined with CPUs and GPUs. The aim is to democratise and decentralise the mining process by moving it away from large, centralised ASIC-mining warehouses. The Bitcoin Gold developers used a “post-mine” after the hard-fork, retroactively mining 100,000 coins, or 8000 blocks at 12.5 coins per block, which were used for its developer dedicated developer endowment. The Bitcoin Gold Organisation oversees the development of Bitcoin Gold.
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