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Note that there is no “new information” in this post– it is a summary of information that has been publicly available since launch in 2017, either in the public open-source code on GitHub, or on the BTG blockchain itself.
Ever since the Endowment wallets were first mined, the Endowment’s wallets have been public on the BTG blockchain, but rumors and misinformation persist. This post on the BTG Forum explains the Endowment mining process in detail and lists all of the wallets. https://bitcoingold.org/endowment-wallets/In 2017, the Bitcoin Gold project duplicated (forked) the Bitcoin blockchain as a fair way to distribute 16 million coins, and then launched with an 8000-block mining period to create a 100,000 BTG Endowment to support the future of the project. This Endowment is currently the only source of funding for the Bitcoin Gold project; after the formation of the Endowment on the day of launch, 100% of all mining rewards and fees have gone directly to the miners – exactly as described in our original Bitcoin Gold Whitepaper / Roadmap. and detailed in our earlier Endowment post. The funds we’ve spent from the Endowment align as described in the Roadmap – salaries and payments for infrastructure, developers, support staff, travel to promotional events… we have not spent any funds paying Exchanges to list BTG. Our developers are currently focused on bringing Lightning Network fully to life on BTG, and are working on Atomic Swaps, Smart Contracts, and more! The whole team is working hard to be Good Stewards of the Endowment so that it can support this project for months and years to come, despite the temporary bear market in cryptos. Building for the future, The Bitcoin Gold Organization #1CPU1VOTE
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Our devs have successfully brought to life all the core functions for a BTG-based implementation of Lightning Network, based on LND (the Lightning Network Daemon) from Lightning Labs. This release provides a Technical Preview version that other developers can test and experiment with. What is Lightning Network?It’s a brilliant way to create super-fast, micro-cost BTG payments with virtually no limits to the transactions per second or the number of users. Lightning Network payments take place through payment channels directly between users, without waiting for blocks on the blockchain, so they are instantaneous. At the same time, the payments are reliable and trustable because of the way those payment channels are created and funded: with smart contracts on the blockchain. Because Lightning Network depends on a Segwit-enabled blockchain (like the BTG blockchain) as a base layer where the channels can be created, it’s often called a “second layer solution.” The last piece of the puzzle? Routing:
On the Lightning Network, two people don’t need a direct channel to send money to each other because the payment can travel across many peoples’ channels. As long as there’s a path between people, the network can route the funds between them. The payment “hops” through channels between multiple people to reach the recipient, and clever cryptography within the Lightning Network payment system ensures that nobody in the chain gets paid unless everybody in the chain gets paid. And since each individual transfer is instantaneous, the entire chain of payments can be completed in a moment! This code is backed by solid engineering, but the combined effect is somewhat magical. Channels between nodes are secure and trusted because they’re based on coins and contracts on the base-layer blockchain. Meanwhile, payments across those channels in the second-layer Lightning Network happen instantly, without waiting for the blockchain, by flowing through those pre-established channels. So Lightning Network is super-fast – but how is it micro-cost?The cost of opening or closing a channel is based on the cost of transactions on the blockchain – every new channel puts activity on the underlying blockchain, which incurs a fee. But, once a channel is opened, it can be used for thousands of payments without touching the blockchain again, so none of the payments incur that cost. Each Lightning Network payment includes a tiny, tiny fee which is paid to the node that relays a payment. The tiny fee is so small it’s almost negligible, but it gives people an incentive to allow their nodes to serve as relays, and it also prevent spamming (if transactions were completely free, someone could write bots to just push massive number of tiny payments to try to cause trouble.) What does all this mean? Satisfy your curiosity by reading the next part of this article posted on our user-friendly BTG Forum:https://forum.bitcoingold.org/t/lightning-network-technical-preview/1866 |
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Who are you ? do you belong to bitcoingold development team because there are many pending questions not answered yet  ?? Hey this is the official BTG Organisation Bitcointalk.org account, You can join any of the above suited SM channels to have your pending questions answered by our excellent support team! thanks!  |
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Bitcoin Core Wallet update Final: the v0.15.1 release bit-for-bit same as the earlier v0.15.1-RC1 (Release Candidate), except filename. Run the latest Full Node and support the network TODAY! (If already upgraded to v0.15.1-RC1, no need to upgrade again.) https://bitcoingold.org/downloads/. Also, the upcoming Network Upgrade is almost upon us! Thanks to all our Partner teams & developers for supporting us. Exchanges & wallets that have not upgraded yet, please do so TODAY - we want to make sure your users are not affected! https://bitcoingold.org/bitcoin-gold-network-upgrade/. |
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Bitcoin Core Wallet update Final: the v0.15.1 release bit-for-bit same as the earlier v0.15.1-RC1 (Release Candidate), except filename. Run the latest Full Node and support the network TODAY! (If already upgraded to v0.15.1-RC1, no need to upgrade again.) https://bitcoingold.org/downloads/ |
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Bitcoin Core Wallet update Final: the v0.15.1 release bit-for-bit same as the earlier v0.15.1-RC1 (Release Candidate), except filename. Run the latest Full Node and support the network TODAY! (If already upgraded to v0.15.1-RC1, no need to upgrade again.) https://bitcoingold.org/downloads/ |
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why people keep going for the "bitcoin something", or the "Eth something", or "Ltc something"... all these coins are usually shit made by scammers that just want to cash in on the hype gained through the name...
Or do you think that with so many developers that Bitcoin core has, there would be bitcoin genious going loose on BTT forum and producing new kinds of better bitcoin??
you can count 1 in a 1000 of these projects that it is not scam...
Money is the main factor for what they are being created and there is no serious purpose behind this. Bitcoin is the only true innovation so that I also agreed with you there is just marketing strategy who used to create fake hype and let them buy on fake promises. Bitcoin has great team of devs that is why its leading. Sirs we disagree, the reason for our creation was to fix the mining centralization of Bitcoin caused by ASIC hardware. This has already been demonstrated to be a very real issue: ( https://www.trustnodes.com/2018/06/23/bitmain-nears-51-bitcoins-network-hashrate June 23) Our algorithm was switched to be GPU mineable(Equihash) allowing for a more decentralized mining effort. The main factor in this is price, GPUs are more widely available already and cheaper. These are facts. Now that Bitmain created an Equihash ASIC, we are hard forking to invalidate them and be true to our original vision. ( https://bitcointalk.org/index.php?topic=4502500 ) We forked from the Bitcoin chain which is why we adopted the Bitcoin name, however we do not compete in any way with Bitcoin, our algorithm does not compete with theirs. We have also remained true to the 'friendly fork' label. We are not Bitcoin, we do not want to 'beat' Bitcoin. We all have our opinions on crypto projects but consider this, were we a scam we would have dumped and exit in December at ATH. Instead,we continue according to our Roadmap ( https://twitter.com/bitcoingold/status/952979467667951617 ). It should also be noted that we were the very first Bitcoin fork to switch to a GPU mineable algorithm. Cheers. |
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Why need to change the algorithm?
Hello, the reason for this decision was because of Bitmain's release of the Antminer Z9 mini (Equihash ASIC). BTG's vision has always been ASIC resistance so there was no discussion to be had about this, we had to act. Our new algorithm is a collaborative effort, we are using a variant of Equihash that is quite a bit more memory hard (2.5GB per thread), this should be sufficient to invalidate this batch shipment. Cheers. |
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Please share feedback and bug reports here, on our discord or telegrams, thank you!
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