The main reason for the creation of bitcoin gold was to create a truly decentralized bitcoin network. At the moment, bitcoin mining is dominated by ASICs, which are dedicated integrated circuits (ICs) for bitcoin mining. Alright, let me just put that in layman’s terms. In order to mine bitcoin, a computer needs to solve complex mathematical formula in order to create a hash. The first computer on the bitcoin blockchain to solve the formula gets a reward.
Any computer with a dedicated graphics hardware is capable of solving this formula, but ASICs are designed specifically for this task. As a result, they are much faster than a typical PC. The problem is that ASICs are expensive, and several companies have made a monopoly by holding huge numbers of ASICs. Therefore, the rest of us with just our personal computers don’t stand a chance. Essentially, these ASICs have centralized bitcoin mining when it was supposed to be completely decentralized.

Deja un comentario

Tu dirección de correo electrónico no será publicada.