The original vision for Bitcoin was that anyone would be able to participate in Bitcoin mining with their personal PCs, earning a bit of extra cash as they helped to support the network. While Bitcoin Cash was designed to resolve Bitcoin's capacity crunch with larger blocks, Bitcoin Gold aims to tackle another of Bitcoin's perceived flaws: the increasing centralization of the mining industry that verifies and secures Bitcoin transactions. It has also chosen to retain Bitcoin's transaction history, which means that, if you owned bitcoins before the fork, you now own an equal amount of 'gold' bitcoins. Bitcoin Gold is branding itself as a version of Bitcoin rather than merely new platforms derived from Bitcoin's source code. But Bitcoin Gold - like Bitcoin Cash, another Bitcoin spinoff that was created in August - is different in two important ways. There are hundreds of cryptocurrencies on the Internet, and many of them are derived from Bitcoin in one way or another.
It aims to correct what its backers see as a serious flaw in the design of the original Bitcoin. Lee via Ars Technica explains Bitcoin Gold: A new cryptocurrency called Bitcoin Gold is now live on the Internet.
