– What kind of virtual currency is this?
BitcoinGold is an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable.
– What is this virtual currency primarily used for?
Bitcoin Gold: The goal for Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies. The current, ASIC-driven Bitcoin blockchain uses a hashing algorithm known as SHA-256 for its proof of work. The founders of Bitcoin Gold propose changing that algorithm to another known as Equihash. ( Source: https://coincentral.com/what-is-bitcoin-gold/ )
– When was this virtual currency first introduced?
BitcoinGold: November 12, 2017
– What is this virtual currency’s most recent market cap?
BitcoinGold: $3,039,615,421 USD ( https://coinmarketcap.com/currencies/bitcoin-gold/ )
– What is the history of this virtual currency?
BitcoinGold (BTG) was launched on 12 November 2017 by hard-forking the original Bitcoin (BTC) blockchain at block number 491,407 and switching to a new proof-of-work algorithm (Equihash). This has created a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain continues on unaltered, but a new branch of the blockchain has split off from the original chain. This new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency was born. The purpose of Bitcoin Gold is to make Bitcoin mining decentralised and available to anybody; this is in contrast to Bitcoin (BTC) mining which has been dominated by large mining farms running highly specialised equipment. (Source: http://cryptocoin.cc/table.php?cryptocoin=bitcoingold )