Bitcoin Gold(BTG) is a Bitcoin branch designed by Jack Liao. The ambition of this new currency is to become a better value store than Bitcoin. Jack Liao hopes to achieve this goal by solving the problem of the centralization of miners by a change of proof of work, which requires a "hard fork".
The chosen algorithm is Equihash, a "memory-hard" proof of work that is very resistant to ASICs and already used by ZCash. The idea is to give users the opportunity to use their processors and graphics cards again for "mining".
BTG's promoters are also considering up to 1% "pre-mining" but they are committed to keeping the limit of 21 million units, it is likely to take some of the "mining reward".
Bitcoin Gold started from 9,003.56 INR on 8th November 2017 and climbed up to 18,881 INR on 30th November 2017 following technical updates and reviews by the Bitcoin Gold community.
And at 19,490 INR on 1st December 2017, Bitcoin Gold finally reached 17,174 INR on 31st December 2017 which was quite anticipated which was due to infrastructure problems related to heavy user load and external causes.
Initial price on 1 January 2018 was INR 17,646.41 and then Bitcoin Gold finally reached INR 9,944.96 on 31 January 2018.
Starting off on 1 February 2018 at INR 9,835.89, Bitcoin Gold was trading at INR 7,533.12 on 28 February 2018.
Although it was announced last July 2017, some believe the project is a "troll attempt" to create confusion. The Bitcoin Gold code is available on Github, open source for anyone who would like to review it. The full launch of the network was scheduled on November 1st 2017.
Bitcoin Gold will modify the algorithm and allow mining via GPU.
The project was first announced on Bitcointalk in July 2017 by Jack Liao, the founder of Lightning ASIC - a Hong Kong-based mining company - and an anonymous developer named "h4x3". The new protocol aims to change the Bitcoin consensus algorithm by allowing miners to extract currency with GPUs. According to the development team, Bitcoin Gold will use the Equihash algorithm, also used by Zcash, rather than the original Bitcoin algorithm SHA256.
Bitcoin Gold will also implement the User Activated Hard Fork(UAHF) proposal to accept GPU extraction, explains the official website archives.
Miners can choose the size of the blocks they want to extract, with a default value of 1 MB. It includes protection against replay attack and wipeout. The GPU brings Bitcoin into the modern era with an exciting roadmap to finally scale up.