How does Bitcoin Gold work?

Bitcoin Gold (BTG) is a cryptocurrency that was created as a hard fork of the original Bitcoin blockchain.

The main purpose of Bitcoin Gold is to make mining more accessible to the average user. This is done by changing the algorithm used to mine new blocks on the blockchain from SHA-256 to Equihash. Equihash is an algorithm that is designed to be resistant to Application Specific Integrated Circuit (ASIC) miners, which are specialized hardware devices that are used by large-scale miners to mine cryptocurrencies at a much faster rate than traditional CPUs or GPUs.

By switching to Equihash, Bitcoin Gold hopes to make mining more decentralized and accessible for everyone, allowing anyone with a computer and an internet connection to participate in mining. In addition, Bitcoin Gold also has some other features that make it different from Bitcoin. For example, it has replay protection, which prevents transactions on one chain from being replayed on another chain; it also has an adjustable difficulty adjustment algorithm (DAA), which helps ensure that blocks are mined at regular intervals; and it has an improved block size limit of 8MB, which allows for faster transaction processing times.

Overall, Bitcoin Gold aims to create a more decentralized and accessible form of cryptocurrency mining by making it easier for anyone with a computer and an internet connection to participate in mining. By switching the mining algorithm from SHA-256 to Equihash and introducing other features such as replay protection and adjustable difficulty adjustment algorithms, Bitcoin Gold hopes to create a more secure and reliable form of cryptocurrency mining.