Bitcoin Gold and Phala network have joined their hands to bring BTG to Polkadot ecosystem. This makes Bitcoin Gold first asset to be listed on Polkadot ecosystem through Phala.
So, what does this means for Bitcoin Gold users? This will allow BTG holders to use this cryptocurrency in smart contracts, Decentralized Finance, Decentralized Polkadot exchanges and more.
This will also add much-needed liquidity to Bitcoin Gold ecosystem, $36 billion dollars to be precise.
Interestingly, Hang Yin, co-founder of Phala network is also co-founder of Bitcoin Gold and it will be delivering security and confidentiality via a network of TEEs.
Bitcoin Gold and Phala network are looking forward to collaborate to bring new technology to Bitcoin Gold investors and holders.
Bitcoin Gold is a fork of Bitcoin but unlike BTC which can be mined only using ASIC machines, BTG can be mined using commonly available graphics cards from Nvidia and AMD. This makes it more community-centric since Nvidia and AMD GPUs can be bought from any offline and online electronic stores.
Phala network is all about distributed computing cloud that tackles issue of trust in a confidential manner.
I am from Brisbane, Queensland and I hold post of Associate Editor at Cryptocoindaddy.