The Bitcoin community was too quick to criticize Bitcoin Gold after the hard fork had caused the price of the most sort after cryptocurrency, Bitcoin, to reduce not so long ago. Bitcoin Gold has attracted a lot of attention since that time, both in the positive light and from the skeptics who are still struggling with the idea of an alternative cryptocurrency which they believe compromises the concept of the limited availability of Bitcoin, which many people think is a vital component to the currency’s value.
Bitcoin Gold (BTG) is an altcoin similar to Bitcoin Cash which shared blockchain history with Bitcoin. The idea behind the new cryptocurrency is to decentralize Bitcoin mining, and several Bitcoin trading exchanges have begun adding BTG trading pairs and crediting their users with balances in Bitcoin Gold. However, these sites are currently trading on Future/IOU tokens for BTG, and as the currency grows in acceptability, people are preparing themselves for when BTG will hard fork.
BTG aims to become a better gold than Bitcoin by hashing blocks with a new proof-of-work algorithm. The idea here is to give users the opportunity to start mining with their CPUs as well as their GPUs, and they hope to use the Equihash system. The algorithm is relatively (Application Specific Integrated Circuits) ASIC resistant, that means, it is not based on the SHA-256 and is being also used by ZCash.
By October, BTG hard forked and even though this does not mean the coin had launched, just that Bitcoin blockchain was frozen on that day for the BTG chain to build new blocks on it later. The launch date of BTG is stipulated for this November, and the release will happen anytime from now.
Bitcoin Gold Explorer
The Bitcoin Gold Explorer is a web tool which allows its users to view blocks, addresses and transactions information on the BTG blockchain. The block explorer offers an API which enables users as well as applications to pull data from the network even without a local wallet.
You can view the top addresses on the blockchain and see which ones are the richest. Bitcoin Gold Explorer also provides information with several charts showing block difficulty against height, and block find-time, block revenue, the block size, block count, and ultimately the BTG price all in real-time.
A user can also view blocks and determine the time transactions took place, including the block hash, the amount and the number of recipients along with the timestamp. A search bar is also available on the site for locating blocks that are not on display. You can either search a block using the height, block hash, count hash or an address and the tool will search the blockchain and display the result for you.
The Bitcoin Gold Explorer tool also allows users to view information on transactions executed on the BTG blockchain. You can either search the purchase you wish to identify by typing the block height or address into the search bar or just use the real-time updated platform to search for recent transactions.