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Bitcoin Gold ( BTG) is a cryptocurrency which was created as a hard fork of bitcoin.
The stated purpose of the hard fork is to make mining on commonly available graphics cards economically viable. The cryptocurrency has been hit by two 51% hashing attacks, once in 2018 and once in 2020.
According to Mashable the launch was criticized for being hastily put together and for including a developer pre-mine. Shortly after launch, the project's website came under a distributed denial of service attack.
In May 2018, Bitcoin Gold was hit by a 51% hashing attack by an unknown actor. This type of attack makes it possible to manipulate the blockchain ledger on which transactions are recorded, and to spend the same digital coins more than once. During the attack, 388,000 BTG (worth approximately US$18 million) was stolen from several cryptocurrency exchanges. Bitcoin Gold was later delisted from Bittrex, after the team refused to help pay some damages.
In July 2018, Bitcoin Gold changed mining algorithm to one that requires more memory to further discourage ASIC mining.
Bitcoin Gold suffered from 51% attacks again in January 2020. In July 2020, the version 0.17.2 was released as an emergency update in order to elude a long attack chain originated a few days before.
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