As there are many crypto currencies on the Internet, most popular being the bitcoin which has gained prominence over the past few years. The acceptance levels are increasing with many major companies across the world and people taking bitcoin into their fold of transactions replacing the use of paper money. The new term to hit the market in the recent times is bitcoin.
Bitcoin benefits as the transaction history is maintained and you can own the bitcoins previously owned along with the gold bitcoins with this version to, they are just carried over. This version increases the capacity of the blocks used for mining during the bitcoin generation. Bitcoin gold has helped to erase the looming threat of monopoly by the mining network and encash all the reward to themselves. With the new version the ordinary bitcoin users will be able to reap the reward as in the beginning of the bitcoin era.
The new version aims to democratise the existing gambit of vested powers to threaten to gain control over the bitcoin reward system. The new system is has employed the Equihash proof of work algorithm. This makes the calculation harder as it is memory based. These measures will hopefully bring back the original bitcoin legacy of a decentralised currency system back into place.
Though this too has its skeptics calling the spades out in the new system, wherein the launch of the bitcoin was launched without much fanfare and the initial miners were allowed to get some of gold bitcoins for themselves. It has been perceived as threat to divide the existing bitcoin news community. There is another notion that so many other versions of bitcoins in the market may confuse the public and make them averse to employing the bitcoin usage. It has been said that bitcoin gold is just using up the popularity bitcoin already holds in the market.
