Difference Between Bitcoin Gold and Bitcoin

bitcoin

Bitcoin is the first digital currency that was introduced in the year 2008 by Satoshi Nakamoto. Out of all cryptocurrencies, bitcoin is the most popular one.

Bitcoin gold is just the modification of bitcoins and also regarded as a new version of it. You can use these cryptocurrencies to buy online goods and services. 

Officially, there are three versions of bitcoin, and they are Bitcoin Gold (BTG), Bitcoin Cash (BCH), and Bitcoin (BTC). Bitcoin is the king of cryptocurrencies. Bitcoin gold was a hard fork of the initial open-source cryptocurrency, introduced on October 24, 2017. 

Bitcoin uses blockchain technology to make the payment quick, easy, and convenient. You can do bitcoin transactions from anywhere in the world, sitting at any place. 

Bitcoin Gold was invented just to change the proof of work algorithm. In most respects, bitcoin gold is identical to vanilla, but it utilizes Equihash, an alternative proof of work algorithm. 

Today, various companies such as Microsoft, Wikipedia, KFC, PayPal, etc., started accepting bitcoins as their payment. Even the institutions started are accepting cryptocurrencies such as bitcoins as their tuition fee. This gives people a reason to use bitcoins and other cryptocurrencies.

All You Need To Know About Bitcoin 

Bitcoin is the most popular virtual currency that is now popular all over the world. You can use these digital currencies to buy real estate properties, services, goods, etc. 

It uses blockchain technology for fast and trusted payment. However, various bitcoin wallets are used to store bitcoins online. It is a digital currency that you can store in reality, and this is made possible only with digital wallets.

There are several types of digital wallets such as web wallets, hardware wallets, mobile wallets, and desktop wallets available on the internet and can be used by all. 

These wallets store your private and public keys, which are more important than your bank account number, and you need to keep it safe. With the help of this wallet, you can do bitcoin transactions very quickly and easily. 

Now, reputable companies, institutions, and brands have also started accepting bitcoins as a payment. It is because the popularity of bitcoins has increased a lot in recent years. 

All You Need To Know About Bitcoin Gold 

Bitcoin Gold is a cryptocurrency. And it is a hard fork of bitcoin, the open-source of cryptocurrency. On October 24, 2017, at block height 491407, bitcoin gold hard forked from the bitcoin blockchain.

Soon after the launch of this website, it came under various attacks and received criticism both from Bittrex and Coinbase. After being hit by the multiple attacks, it manipulated the blockchain ledger on which transactions are reported. 

As of March 2018, according to the bitcoin website, the cryptocurrency trading lives on Unocoin, CoinSwitch, Indacoin, Bitmarket, BestRate, Anybits, Okex, Cex.io, QuadrigaCX, Bitstarex, Bitsane, Tdax, Evercoin, Change Now, Abucoins, BitBay, Shapeshift, Changelly, Gate.io, YoBit, Uphold, HitBTC, Bittrex, Binance, Bitfinex, and Bithumb.

Bitcoin Gold is just the modification of bitcoin and to change the work of proof algorithms. You can also exchange cryptocurrencies via bitcoin gold. 

On the other hand, several bitcoin golds were stolen from various cryptocurrency trades during the bitcoin attacks. In January 2020, bitcoin gold endured approx 51% attacks.

The Final Thoughts

Therefore, these are the major differences between bitcoin and bitcoin gold. Bitcoin gold has its availability on several exchange platforms and has several uses that attract other users.

On the other hand, during the bitcoin transactions, only a sender and a receiver are involved. It eliminates the need for any third parties, and this makes the transaction quick and easy. 

The popularity of bitcoin and bitcoin gold is increasing day by day, and there is a high search volume on the internet because people are getting aware of these terms, and they want to know more. You can also visit the https://bitcoins-digital.com/login/ site for more information regarding this.

Moreover, if you want to invest in cryptocurrencies such as bitcoin and bitcoin gold in the future, you should make your concept clear so that it will be easy for you to understand these terms, and you can gain huge profit.

Roberto Azarcon

Roberto has worked in the personal finance field for 20 years, particularly in the areas of financial planning.

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