What is the difference between Bitcoin cash and Bitcoin gold?
With all the talk of bitcoin vs bitcoin cash vs bitcoin gold, the question is what are they and how do they differ?
That's a great question.
In my view, they are both forks of the Bitcoin project but they have different aims.
Bitcoin cash aims to speed up transaction confirmation times (which can currently be up to 3 days for bitcoin). The Bitcoin Cash mining algorithm reduces this time to about 10 seconds. In this way, it is much easier to use and accept Bitcoin Cash to use in everyday payments (hence the name Bitcoin Cash).
Bitcoin Gold aims to reduce the influence of corporations and powerful individuals on the currency for goals of profit. The mining process is not based on raw processing speed - it relys on memory which brings the mining back into the hands of everyday users.
Interesting. I didn't know the difference. Each of them seem like great ideas. Transactions in seconds definitely give me another reason to start using Bitcoin Cash.
CaliCrypto last edited by
I think one of the biggest things to watch out for related to this thread is that just because something attaches itself with the word Bitcoin or BTC does not mean it has anything to do with the original technology. A lot of people are just using the name to try and attach to a project for the hype and not because its as good of an idea as Bitcoin is.
@calicrypto I'd have to disagree with you there. Both these projects are 'forks' of the Bitcoin project. So in that sense, they inherit the entire codebase and logic of Bitcoin. In fact these projects only change a few small things from the original Bitcoin.