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Bitcoin Gold features, mining, rate and prospects

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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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Crypto Veterans Shed Light on CBDC and Stablecoins Including TUSD, Endorsing Competition in Money Market

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The renowned documentary series “The Future is Now” has recently shifted its focus to the blockchain industry. The team produced its first-ever crypto-related documentary titled “Aligning the Future,” shedding light on the development of Bitcoin and other digital currencies across the globe.

The show stars H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO, congressman William Soriano from El Salvador, and many other respected crypto leaders, who shared their insights on the future of crypto.

H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO

“Eventually we will have three kinds of nations. One kind of nation will still use traditional fiat, but some countries will start to evolve into CBDCs, doing central bank digital currencies. But we will also see some countries like El Salvador and Caribbean countries in the future that might adopt Bitcoin or cryptocurrency as their legal tender or financial settlement infrastructure.” said H.E. Justin Sun when asked about his view of CBDCs (central bank digital currencies) across the globe.

He also added that as a believer in Hayek’s theory, he has faith in a currency market that is open to entire competition and embraces all types of currencies. Meanwhile, as a veteran in digital currency, Sun believes that CBDCs can be listed on blockchains, including Ethereum and TRON, in the way that stablecoins such as USDT, TUSD, and USDC are listed, which will undoubtedly bring the growth of the crypto industry to the next level. He also pointed out that many underprivileged people are still denied access to traditional financial services. The elimination of the threshold to financial infrastructure will benefit the whole world’s population. Blockchains, including TRON, have already provided a relatively affordable and accessible gateway to financial services and are capable of bringing more convenience to users.

Stats about TRON’s stablecoin infrastructures

Another leader who holds the same view as Sun is William Soriano, congressman of El Salvador, who quoted local facts to prove his point. El Salvador is the first country that announced plans to adopt Bitcoin as legal tender, a seemingly unconventional move backed by ample reasons. 

William Soriano, Congressman of El Salvador

As a prominent advocate for Bitcoin and blockchain, Soriano said only 30% of all Salvadorians, or roughly 1.2 million people, have access to a bank account. In contrast, 3.8 million of them now have access to a digital wallet, i.e., 80% of the population has already been financially included, a feat on its own.

Salvadorians using digital currencies can save on wire transfer fees typically required by traditional banking systems for international money transfers. This is due to the unique operation mechanism of digital currencies, where blockchain technology is being utilized for clearing and settlement. As it stands, blockchain technology and cryptocurrencies are helping more and more Salvadorians access financial resources and are surely gaining nationwide recognition. However, value stability is still a problem that Bitcoin faces due to its volatile prices.

In light of this, recent attention has been focused on such solutions that both enjoy the benefits of blockchain technology while withstanding price volatility. Stablecoins, as previously mentioned by H.E. Justin Sun, are digital currencies deployed on the blockchain and pegged to the U.S. dollar, lowering the entry barrier to financial inclusion while offering a solution to volatility.  

Although stablecoins such as USDT and USDC might enjoy higher popularity at the moment, TUSD is arguably the best-performing and most reliable. Furthermore, as the only stablecoin attested live on-chain and audited in real-time by the renowned Armanino, TUSD prioritizes industry-leading security and transparency.

In March 2021, TUSD became the first native U.S. dollar-pegged stablecoin on Avalanche. One month later, it went live on TRON, becoming the second U.S. dollar-pegged stablecoin natively launched on TRON following the stablecoin frontrunner USDT.

In addition, TUSD has been an early mover in multi-chain deployment, now supported by a succession of blockchains that include BNB Chain, Fantom, Polygon, and Cronos, receiving industry-wide endorsement. Currently, the total supply of TUSD has surged past 1.4 billion, ranking fourth among its peers.

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Pyramid Pad Announces Upcoming Token Airdrop

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Pyramid Pad Announces Upcoming Token Airdrop

Pyramid Pad, a multi-tool project running on BNB Chain, announced an imminent airdrop for its token, $PYRA. The event will take start on April 9 and end on May 23. Also, it should kick-start the project’s growth and increase awareness.

During the PYRA airdrop, every participant will get 1,800 PYRA for joining and another 200 tokens for each referral. Also, the price of 1 PYRA will be 0,014 USD. To join the airdrop, interested members have to complete the following tasks:

  1. Join the Pyramid Pad Telegram channel and submit their usernames.
  2. Subscribe to the project’s YouTube channel
  3. Join the Pyramid Pad Telegram official chat.
  4. Follow Pyramid Pad on Twitter.
  5. Join the project’s Discord channel.
  6. Submit their information details.

PYRA is a BEP-20 token with numerous functions within the Pyramid Pad ecosystem, including staking and farming. It has a total supply of 1,000,000,000 units. The platform will airdrop 5,000,000 (5%) of it during the upcoming event. PYRA holders can use their tokens on any of the Pyramid Pad features, such as:

  • Pyramid Launchpad – A multi-blockchain supported platform where users can launch their coins and raise funds for their projects.
  • Pyramid Staking – A proof-of-stake platform running on BNB Chain and enabling users to earn a passive income from staking.
  • Pyramid Swap – A service that enables users to swap tokens from their Private Key Wallet or Trading Account. The former provides the benefit of non-custodial, on-chain settlement. Meanwhile, the latter offers faster settlement and no network fees.
  • Pyramid NFT Marketplace – This feature allows users to create, manage, buy, sell, and exchange NFTs. 

About Pyramid Pad

Pyramid Pad is an all-in-one, multi-feature project offering numerous DeFi tools and solutions. It runs on BNB Chain and aims to become a far-reaching ecosystem supporting IDO launches, staking, and an NFT marketplace. The platform launched in Q3 of 2021 and, since then, has developed its concept, tokenomics, and struck several strategic partnerships. Recently, Pyramid Pad has obtained a successful smart contract audit from the industry-leading auditor, Solidproof.

For more information about Pyramid Pad, please follow the links below:| Website | Twitter | Telegram |Whitepaper| YouTube| Discord|

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A hands-on experience on some of the most popular smart contract platforms

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In 2021, many smart contract platforms competed for users’ attention and attempted to be the next Ethereum killer. The terms DeFi, GameFi, and NFT, have been all over the media lately, and any of these would not be possible without smart contracts. As more smart contract platforms are introduced, it becomes hard for newcomers to choose which is right for them. This article will examine some of the most popular smart contract platforms and share our hands-on experience with them.

Ethereum

Token: ETH

TPS: 10

Ethereum is the world’s first smart contract platform. Developers create decentralized applications (dApps) on the Ethereum Virtual Machine (EVM) with an object-oriented programming language called solidity. Users can interact with dApps that operate autonomously. Since Ethereum is the first smart-contract-enabled blockchain platform, it has a lot of active developers and has the most Total Value Locked (TVL) in DeFi as far as blockchains are concerned. However, despite being the most popular smart contract platform, it still has a few downsides that make us try to stay away from it when possible. One drawback is the slow transaction speed since Ethereum can only process around 10 transactions per second (TPS). The other problem is the hefty transaction fee it charges when the network is busy, in which the fee may sometimes cost more than the transaction per se.

Binance Smart Chain

Token: BNB

TPS: 60

Binance Smart Chain (BSC) is a smart contract blockchain that is fully compatible with the EVM, so developers can leverage existing tools to write dApps without having to learn an entirely new language. In addition, the increase in transaction speed compared to Ethereum is welcoming. BSC started to gain traction earlier last year, it forked a lot of Ethereum projects that bootstrapped the entire ecosystem, and in the latter part of last year, we see GameFi booms on BSC. One most notable concern that many community members have is the centralization of the Binance chain since Binance is a centralized exchange, and most of its validators are connected to Binance. Nonetheless, BSC has a unique and strategic position in the entire crypto ecosystem.

Avalanche

Token: AVAX

TPS: 4,500

Avalanche is an open-source platform for launching DeFi applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first smart contract platform that confirms transactions in under one second with finality on every block. It provides a new consensus mechanism with an adaptable platform optimized for enterprise adoption and developer needs while solving the challenging problems of scaling and security. The AVAX rush incentive plan also ignited the whole Avalanche ecosystem last year, with large price swings in the latter half of the year. We miss the low transaction fees that Avalanche offered at the very start. Another concern we have is their failure to keep up to date with various promises such as burning the foundation’s staking rewards and the introduction of feeless transactions. If Avalanche could significantly reduce its fees and improve communication while keeping its promises, it’s still a smart contract platform worth keeping an eye on.

Solana

Token: SOL

TPS: 2,000

Solana is a high-performance open-source blockchain. It provides a platform for dApps and next-generation protocols. With its Proof of History (PoH) consensus mechanism, the Solana blockchain allows for breakneck transaction speeds, claiming to scale to over 50,000 TPS on an open network, which is said to be possible due to Solana’s novel approach.This deterministic checkpointing mechanism that is used in place of synchronous consensus. However, Solana’s actual TPS is around 2,000, with more than 3/4 of these transactions being vote transactions. The seemingly inflated TPS widely promoted to the public might reflect the questionable design of the Solana platform. Even though it was once regarded as a crypto rising star, with its six blockchain outages happening in the last month alone, Solana is facing fundamental questions about its network stability, as well as the ability to maintain itself as a Wall Street darling.

TRON

Token: TRX

TPS: 2,000

TRON is an innovative open-source blockchain that focuses on providing a cost-effective settlement solution with the ultimate goal of decentralizing the internet. The high level of scalability offered by the system and its mandate for low costs are attractive propositions for those considering taking their first step into the crypto world. Since last April, the amount of Tether USDT on TRON has surpassed Ethereum to become the No.1 worldwide. TRON became the preferred blockchain for many when transferring and converting stablecoins because of its low fees. The TRON network’s increasing dApps and NFT projects also attracted many new users from other blockchains. However, we noticed that newcomers sometimes brought up the concept of bandwidth and energy on the TRON network. Although understanding bandwidth and energy is not necessary to make a transaction, users should be encouraged to look into them as utilizing these resources by staking a certain amount of TRX would enable one to send transactions or interact with smart contracts for free.

Throughout last year, we saw many smart contract platforms rising to compete with Ethereum, and each of them has its pros and cons. There is an incredibly increasing demand for a good smart contract platform, and every platform will eventually have its place in the ecosystem. Investors, users, and developers should take a closer look at each of these blockchains and pick the one that matches their needs best.

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