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Bitcoin Gold features, mining, rate and prospects

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4 years ago

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Bitcoin Gold is a cryptocurrency based on the original Bitcoin blockchain. As the name suggests, this is a fork of the very first digital coin. It is a soft fork – that is, to create and run the crypt, the open source Bitcoin code was copied with some changes.

The new cryptocurrency project was officially launched on October 25, 2017. On this day, the developers of Bitcoin Gold BTG copied the Bitcoin blockchain and subsequent blocks began to be generated in their own network. What is the meaning of this fork, and what are the prospects for gold Bitcoin in 2021?

Bitcoin Gold features

The emergence of Bitcoin Gold was preceded by another fork – Bitcoin Cash. Apparently, the cryptocurrency developers decided to play on a well-known name, because many cryptocurrencies that appeared long before the new Bitcoins are also forks of the original network, but at the same time have more unique names.

The person representing the Bitcoin Gold cryptocurrency development team is Jack Liao from China. Like many of his compatriots, he became famous more in the field of mining than in creating revolutionary crypto opportunities.

Perhaps that is why affordable mining has become the main feature of BTG. After all, it’s not a secret for anyone that the current Bitcoin mining is the lot of powerful industrial ASIC farms, while the usual video cards (GPUs) have become completely ineffective.

hus, the “noble” goal of Jack Liao and his team is a popular Bitcoin with decentralized mining, available for mining to an average cryptocurrency user. To implement this feature of confirmation of work, the Equihash hashing algorithm is used. It is optimized specifically for GPU mining and is not compatible with ASIC processors.

At the very beginning, the developers announced the launch date for the mining network – November 1, 2017. However, the system was not brought to mind, so the network worked for some time only in test mode. The long-awaited launch of BTG mining took place on the night of November 12-13, 2017.

Bitcoin Gold mining

The complexity of Bitcoin gold allows you to mine coins using Nvidia and AMD video cards, but it is preferable to do this using the first option. The following Nvidia video card models are optimal for BTG mining:

  • GTX 1060 (from $200);
  • GTX 1070 (from $400);
  • GTX 1080 (from $650).

Or more advanced video card models. It is highly desirable to have a powerful PC in terms of basic parameters and high-speed Internet. Before mining BTG, you also need to find a cold place to install the farm in order to reduce the thermal load on the video card cooled by the standard fans. After all, effective BTG mining requires almost uninterrupted operation of the farm.

To receive a reward, you need to create a Bitcoin Gold wallet – the corresponding address can be obtained on the bitcoin exchange Cryptex without verification or in a multicurrency wallet. The official website of Bitcoin Gold provides a list of pools for mining. There are two types of Bitcoin Gold pools:

  • with personal reward;
  • with shared reward.

A personal reward goes to the one whose farm was the first to solve the problem. The owner of this farm ultimately receives the mined coins from the current complexity in full. Such pools are worth choosing if the farm has high capacity to compete successfully. The more powerful the farm, the higher the chance that it will be the one who will solve the calculations.

The shared reward goes to all participants in the pool, in proportion to the capacity of their farms. This option is best suited for small budget home farms, since regardless of who from the pool solved the calculations, the reward will be shared among the participants.

After selecting the pool and downloading the software, copy the Bitcoin Gold wallet address to the appropriate section. The pools also have settings that allow you to set the minimum amount of reward accrued by the pool. When setting this parameter, you should consider the technical capabilities of your farm.

To start mining, you need to download a miner with Equihash technology support. The software is able to determine the parameters of the video card itself and set the appropriate settings for mining. In the created bat-file, write the server address, port, username, etc. Mining can be started and monitored in the miner’s software window.

Bitcoin Gold rate and prospects in 2021

BTG trading started in October 2017 on cryptocurrency exchanges at about $100 per coin. The maximum was achieved on November 11 of 2017, before the official launch of crypto mining. Then the cost of one coin reached 422 dollars.

With the increased flow of Bitcoin gold transactions in just a few days, the BTG rate dropped by more than 2 times, and at the beginning of 2018 it turned out to be in a range that is relevant to this day. In 2020, the cost of one BTG coin ranged from $5 to $15.

If you look at the Bitcoin Gold rate chart, you can trace the typical exchange dynamics of a cryptocurrency with volatility in the middle range. Nowadays, BTG is interesting for miners with video cards, who do not consider long positions in this cryptocurrency and in fact immediately sell the mined coins.

The other side of BTG is speculative market interest. In short-term transactions, Bitcoin Gold is actively used, and pumping and dumping schemes are quite clearly traced. There are no special prerequisites for a significant growth in this in 2021, as well as factors for its collapse, but the future growth may be followed by the original Bitcoin growth that we see in the past few weeks. The development team led by Jack Liao is actively supporting their project, but their reputation in the crypto world is not entirely perfect.

The daily volume of transactions with gold bitcoin exceeds $8.5 million. This is almost a 5.5 thousand times less than the original Bitcoin. Like the original Bitcoin, Bitcoin Gold has a limited supply of 21 million coins. Given the complexity of Bitcoin Gold mining, there are still several years before the last coin is mined, so interest from GPU miners in 2021 will not disappear, unless, of course, more profitable competitors in terms of mining on video cards appear.

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Fintopio Launches First CeDeFi Wallet Enabling Crypto Transfers via Telegram Usernames

Published

1 week ago

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November 15, 2024

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Fintopio, the leading Web3 wallet co-founded by former Binance executive Steve Milton, has officially launched its CeFi services, making it the only CeDeFi wallet in the market accessible on Telegram, iOS, Android, and Web. With its new CeFi offerings, Fintopio merges centralized and decentralized finance, providing a seamless platform that caters to a diverse global audience eager to access digital assets as simply as sending a message.

With Fintopio’s CeFi wallet, users experience simplified, frictionless transactions with key features like username-based transfers, Zero-Fee transfers, and innovative tools such as Vouchers for bulk crypto transfers and gifting. This milestone enhances Fintopio’s existing Web3 ecosystem, which has grown rapidly since its beta launch in April 2024, attracting over 2 million monthly active users.

Simplifying Crypto with Telegram-Based Transfers

Fintopio’s strategic integration with Telegram leverages the platform’s 950 million-strong user base, positioning Fintopio as the go-to wallet for crypto users seeking accessibility and convenience. By enabling crypto transactions through Telegram usernames, Fintopio eliminates complex wallet addresses, empowering users to conduct transactions with a familiar interface.

“We wanted to create a wallet that makes crypto as accessible as texting,” explained Steve Milton, Co-founder & CEO of Fintopio. “With our CeFi services, we’re moving closer to this goal, giving users a way to manage and transfer digital assets without the usual hurdles of traditional wallets.”

Fintopio’s intuitive design has been instrumental in driving adoption within emerging markets, especially in Africa and Asia, where the need for accessible financial tools has spurred millions to explore digital finance. By offering seamless transactions and secure asset management in a single, user-friendly platform, Fintopio makes Web3 accessible to users across various levels of crypto expertise.

Blending CeFi and DeFi in One Wallet

The launch of Fintopio’s CeFi wallet aligns with its mission to bridge centralized and decentralized finance in a single, cohesive ecosystem, making it a standout choice for users looking to engage with both worlds. Already popular on Telegram for its non-custodial DeFi wallet, which grants users full control over their private keys, Fintopio now offers the added option of a custodial wallet through its CeFi services, catering to users who prioritize the enhanced security and platform custody.

Additionally, Fintopio’s CeDeFi model introduces Zero-Fee transfers within its CeFi wallet, allowing Telegram users to transfer funds using just usernames, lowering barriers to entry and making daily transactions cost-effective and seamless. Available as a Telegram mini app, and natively on iOS and Android, Fintopio is uniquely positioned as the only CeDeFi wallet live across multiple platforms, reinforcing its commitment to making crypto accessible for everyone.

Vouchers: The Ultimate Tool for Bulk Crypto Transfers

The CeFi wallet also introduces a new feature called Vouchers, which serve as customizable tokens for transferring crypto on a large scale. Vouchers allow users to create tokens representing funds from verified accounts that can be securely shared with others. Designed for mass distributions, giveaways, and gifting, Fintopio’s Vouchers include robust security features such as password protection and anonymous transfer options.

Fintopio is currently available as a Telegram mini app and has recently launched its iOS and Android apps, which will soon reach a broader audience beyond the Telegram community. This multi-platform availability reinforces Fintopio’s commitment to making crypto accessible for everyone, positioning it as the only CeDeFi wallet live on the market ro do so.

Engaging Users with Web3 Ecosystem and HOLD Game

Beyond the basic wallet functions, Fintopio has developed an extensive Web3 ecosystem aimed at engaging users. Through the addition of  HOLD, a tap-to-earn game built within the wallet, Fintopio has created a rewards economy for a gamified crypto experience. This unique feature allows users to earn future HOLD tokens, which will serve as part of Fintopio’s expanding payment utilities on both CeFi and DeFi functions. 

Expanding to CeFi and Future Offerings

Fintopio’s CeFi wallet marks an important step in its roadmap as the company continues to innovate. Future plans include enhanced functionality for the HOLD game, P2P trading, and on-ramp/off-ramp solutions, allowing users to bridge the gap between traditional and digital finance seamlessly. By continuously expanding its offerings, Fintopio is set to become one of the most versatile Web3 wallets of 2024, catering to the needs of a diverse, growing crypto community.

About Fintopio

Fintopio is a Web3 wallet ushering in the New Payment Era on Telegram and Beyond. Founded by a team of blockchain industry veterans, it stands as the first CeDeFi wallet in the market available on iOS, Android, Telegram Mini App, and Web.

For more information on Fintopio, visit the official website and follow the official Fintopio community today.

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Matthias Mende Honored as Binance’s ‘Creator of the Year’ at Binance Blockchain Week Dubai

Published

2 weeks ago

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November 8, 2024

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Founder of Bonuz Market and Co-founder of Dubai Blockchain Center Recognized for Outstanding Contributions to the Binance Community

Matthias Mende, the founder of Bonuz Market and co-founder of the Dubai Blockchain Center, has been awarded the prestigious ‘Creator of the Year’ award by Binance, the world’s leading cryptocurrency exchange. The accolade was presented by Binance Co-founder He Yi and Chief Marketing Officer Rachel Conlan during the Binance Blockchain Week held in Dubai on October 30th and 31st. Binance is the world’s leading exchange, with over 238 Million Users.

The award, voted by the global community of Binance users on Binance Square, acknowledges Mende’s exceptional contributions to the blockchain community and crypto industry. His innovative work with Bonuz Market, a pioneering ecosystem that launched the social smart wallet on October 15th, has solidified not just his reputation as a key opinion leader but also as a builder.

“Receiving this award from Binance is a profound honor,” said Matthias Mende. “Happy that it validates my hard work and dedication invested to the Blockchain Ecosystem. Sharing information and educating is one of my missions, and building my consumer app also reinforces to drive more newcomers into our innovative crypto space. This recognition strengthens my obsession to continue building platforms that empower humans and enhance their daily experiences, as well as redefining community and brand engagement.”

He Yi, Binance Co-founder, remarked, “All winning Key Opinion Leaders demonstrated great value with the knowledgeable content shared on Binance Square. Their contributions have advanced the community, and we’re thrilled to recognize the winning Binance Square Creator’s achievements.”

The award ceremony was one of the highlights of Binance Blockchain Week, an event held in the Coca-Cola Arena in Dubai that convened industry leaders, leading innovators, and enthusiasts from around the world to discuss the future of blockchain technology. The biggest highlight was Chengpeng Zhao’s first public appearance since his release last month. The former CEO served a four-month sentence following his guilty plea and has returned to the United Arab Emirates.

About Matthias Mende

Matthias Mende is a seasoned entrepreneur and blockchain evangelist with a passion for fostering innovation and building technology that adds value to daily human life. As the founder of Bonuz Market, the co-founder of IDsign, and co-founder of the Dubai Blockchain Center, he has been instrumental in advancing blockchain adoption and education in the Middle East and globally.

About Bonuz Social Smart Wallet

Bonuz’s social smart wallet has quickly gained traction, offering users a seamless and secure way to interact with digital assets. The platform’s successful launch marks a significant milestone in the company’s journey to revolutionize the way people engage with blockchain technology. The smart wallet’s secure and simple Social Login with sponsored Gas Fee’s for Bonuz use-cases give users the feeling of using any familiar web2 product. Bonuz strives to be the first ecosystem to bring 1 Billion users onchain. Currently, Bonuz’s “Onchain Social ID” protocol can aggregate up to 11 Billion active social media accounts. The Bonuz Mobile App is free and can be downloaded for IOS and Android.

For more information about Bonuz, please visit www.bonuz.xyz.

Follow Mende on Social Media:

X – https://x.com/MendeMatthias

BINANCE – https://www.binance.com/en/square/profile/Mende

INSTA – https://instagram.com/mende

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GameChain’s Multi-Chain Ecosystem Poised to Revolutionize Gaming and Propel GAME Token Growth

Published

2 months ago

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September 25, 2024

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GameChain is at the forefront of transforming the gaming industry by creating a robust ecosystem that brings together developers and players in an unprecedented way. By fostering an environment where both parties can thrive, GameChain is opening up a world of possibilities that extends beyond traditional gaming platforms. Central to this innovation is its broad multi-chain compatibility, which is set to redefine the boundaries of blockchain gaming.

One of GameChain’s standout features is its support for multiple leading blockchain networks, including Ethereum, Arbitrum, Optimism, Polygon, and Avalanche. This extensive compatibility ensures that developers have the flexibility to build and deploy games across various platforms, tapping into different user bases and leveraging the unique advantages of each network. For players, this means access to a wider array of games and assets, all within a seamless and interconnected ecosystem.

The broad multi-chain support not only enhances accessibility but also significantly improves scalability and transaction efficiency. By utilizing networks like Arbitrum and Optimism for their layer-2 solutions, GameChain can offer faster transaction times and lower fees. This technical prowess ensures a smoother gaming experience and encourages more users to participate in the ecosystem.

Based on these groundbreaking developments, industry analysts anticipate that the GAME Token is set to experience substantial growth. The token’s utility across multiple chains and its integral role in transactions, staking, and governance within the GameChain platform position it for increased demand. As more developers and players join the ecosystem, the value of the GAME Token could rise, reflecting its central role in this expanding network.

With its commitment to innovation and community empowerment, GameChain is not just creating an ecosystem—it’s pioneering the future of blockchain gaming. The platform’s multi-chain compatibility and the potential surge in GAME Token value underscore its capacity to reshape the gaming landscape. For developers and players looking to be part of a transformative movement, GameChain offers the tools, community, and opportunities to thrive in the evolving world of Web3 gaming.

For more information, visit the GameChain presale site or join the community on Telegram and X.

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