Bitcoin Gold (BTG)

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## Basics

* Bitcoin fork, created on 2017-10-24
* Attempts to decentralize mining by Equihash, which cannot be run faster on the specialty equipment used for Bitcoin mining (ASIC miners.)
* Has difficulty adjustments every block.

 History

## Tech

* Whitepaper can be found [insert here].
* Code can be viewed [insert here].

## Upgrades

* Had a hard fork on 2018-07-03 to implement Equihash.
* From Bitcoin.com (6-3-2020):

"*The team of BTG developers introduced a new soft fork concept called a “Cross-Chain Block Notarization Protocol” (CCBN) in order to thwart any 51% attacks going forward."*

## Audits

* Bug bounty program can be found [insert here].

### Attacks

* Got hit by a double spend attack on may 23, 2018. Exchanges lost millions.
* "*Got hit* *(27-1-2020) by two 51% attacks in 6 hours resulting in over $70,000 worth of BTG being double spent. According to a GitHub post by James Lovejoy, a researcher at MIT’s Digital Currency Initiative, the hard-fork of Bitcoin was hit by two deep reorganizations of over 10 blocks on Jan. 23 and 24."*
* From Bitcoin.com (6-3-2020):

*"After the January 51% attack against BTG, software developer James Lovejoy noted that the miners who flipped the hashrate probably spent roughly $1,200 to rent hash from Nicehash and perform the attack. "*

* From a blog by Nic Carter: *"BTG has been delisted from many of these exchanges and is widely considered an unreliable and risky chain. There have only been six commits in the last six months, and none in the last three months. Lead Developer Jack Liao has also left the project. With under 1000 transactions a day on average, BTG is as close to zombified as you can get."*
* Foiled a 51 percent attack that it had known was coming for over a week (11-7-2020).

## Usage

* According to the cryptocurrency's official website, there are 108 bitcoin gold nodes in the world. Nearly 30% of them are in Germany.

## Coin Distribution

* From Bitcoin.com (6-3-2020):

*"A blockchain analysis study shows that the price of BTG might be manipulated by a single whale or a few whales controlling a significant portion of the bitcoin gold in circulation.  There is 17,513,924 BTG in circulation at the time of publication, but the research underscores that it can be assumed that roughly 11 million BTG are either inactive or lost forever. This is due to the reflection of the number of BTC that hasn’t moved (10.7M+) in over a year but also certain individuals will refuse to claim a forked coin and those BTG will never see the light of day. Because of these statistics, the researcher estimates there’s probably 7 million BTG on the market although the true number could be much lower (4-5 million). “With the prior figure, one entity owns a minimum of 38% and a maximum of 48% of the supply, on one exchange,”*

## Team, Funding, Partnerships, etc.

### Team

* Full team can be found [here].
* Jack Liao; Lead Developer (left the project)