Bitcoin Gold (BTG) API and Price Oracle

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Bitcoin Gold

BTG
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x0000...0000
Network
Blockchain network where the asset is deployed
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BitcoinGold
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is Bitcoin Gold (BTG)?

Bitcoin Gold (BTG) is a cryptocurrency that was created as a fork of Bitcoin in 2017. Its purpose is to enable mining with GPUs (Graphics Processing Units) instead of specialized ASIC (Application-Specific Integrated Circuit) hardware. This aims to make mining more decentralized and accessible to individuals. Bitcoin Gold was founded by Jack Liao and is associated with the company LightningASIC. The name "Bitcoin Gold" represents the desire to make mining "decentralized again."

How does Bitcoin Gold work?

Bitcoin Gold (BTG) is a cryptocurrency that operates on a decentralized blockchain network similar to Bitcoin. However, it differentiates itself by utilizing a different mining algorithm called Equihash. This algorithm is ASIC-resistant, meaning it discourages the dominance of specialized mining hardware, fostering a more democratic mining process.

Underneath Bitcoin Gold is the same underlying technology as Bitcoin, utilizing a decentralized ledger called the blockchain. The blockchain records all transactions and maintains the integrity of the network. By using a peer-to-peer network of computers collectively validating and verifying transactions, Bitcoin Gold eliminates the need for a central authority like a bank.

Bitcoin Gold's blockchain operates similarly to Bitcoin's blockchain. When a user initiates a transaction, it is broadcasted to the network of computers called nodes. These nodes validate the transaction and confirm its legitimacy by reaching a consensus using cryptographic algorithms. Once the transaction receives several confirmations, it becomes permanently recorded on the blockchain.

The primary goal of Bitcoin Gold is to make mining accessible to individuals with standard hardware, rather than large mining operations dominated by specialized equipment. The Equihash algorithm achieves this by requiring a significant amount of memory, discouraging ASIC mining.

In summary, Bitcoin Gold functions by utilizing the familiar blockchain technology, but with a different mining algorithm. This algorithm promotes decentralization and makes mining more accessible to a wider audience.

What are the benefits of Bitcoin Gold?

Bitcoin Gold is a cryptocurrency that emerged as a result of a hard fork from the original Bitcoin blockchain in 2017. It aims to address some of the perceived shortcomings of Bitcoin and provide added value to its users. Here are a few benefits of Bitcoin Gold compared to its direct competitors:

1. Decentralization: Bitcoin Gold aims to foster decentralization by using a different mining algorithm called Equihash. This algorithm favors GPUs over specialized mining hardware like ASICs, making it more accessible to individual miners and reducing the concentration of mining power in the hands of a few.

2. Accessibility: Bitcoin Gold is designed to be more user-friendly and accessible to a wider range of individuals. Its mining algorithm allows regular GPUs to participate in the mining process, making it easier for people to get involved and contribute to the network.

3. Security and resistance to 51% attacks: Bitcoin Gold implemented a new mining algorithm to mitigate the risk of 51% attacks, where a single miner or group of miners could gain control of the network. This makes the network more robust and resistant to potential attacks.

4. Community-driven development: Bitcoin Gold emphasizes community involvement and decentralized decision-making. It aims to be a user-friendly cryptocurrency and encourages community members to actively participate in its development and decision-making processes.

It is important to note that Bitcoin Gold is just one of many cryptocurrencies in the market, and its benefits should be considered in relation to its direct competitors, such as Bitcoin and other Bitcoin forks. The choice of cryptocurrency ultimately depends on individual preferences and specific use cases.

What is Bitcoin Gold used for?

Bitcoin Gold (BTG) is a cryptocurrency that was created as a fork of the original Bitcoin blockchain in 2017. It aims to make several improvements to Bitcoin's technology, including a different mining algorithm that allows mining with graphics processing units (GPUs) instead of specialized hardware.

In terms of its use cases, Bitcoin Gold shares similarities with Bitcoin. It can be used as a store of value, a medium of exchange, and a unit of account. People can buy, sell, and trade Bitcoin Gold on various cryptocurrency exchanges, and it can be stored in digital wallets.

One specific use case of Bitcoin Gold is aimed at promoting more decentralized mining. Bitcoin mining has become highly centralized, with large mining pools and specialized hardware dominating the industry. Bitcoin Gold's mining algorithm, called Equihash, is designed to be resistant to ASIC mining and allows individual miners to participate using readily available GPUs. This aims to level the playing field and make mining accessible to a broader base of participants.

By enabling GPU mining, Bitcoin Gold hopes to achieve a more decentralized ecosystem and promote greater inclusivity in the cryptocurrency mining community. This use case demonstrates Bitcoin Gold's commitment to enhancing the decentralization and democratization of blockchain technology.

It's important to note that the use cases of Bitcoin Gold, like any cryptocurrency, can vary depending on market demand and individual preferences.

What is DIA's Bitcoin Gold API?

DIA's Bitcoin Gold API is one of the many API endpoints provided by DIA that offers real-time price feeds for various crypto assets. These price feeds are constructed using raw data sourced from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, including billions of individual trades. DIA's ability to gather and process such comprehensive data sets sets them apart from other web3 data providers.

Now, let's talk about the availability of DIA's API endpoints. Developers can access free API endpoints provided by DIA for testing purposes. These free endpoints are offered in a standardized format and can be found on the asset's detail page within the DIA App. They are primarily meant for informational purposes and offer a simple way for developers to test their applications.

However, where DIA truly excels is in offering custom API feeds. These custom feeds can be tailored to meet specific requirements, including the selection of sources, methodologies, and update mechanisms. DIA understands that each user may have unique needs, and they are committed to building dedicated API price feeds to address those requirements. To request a custom feed, users can get in touch with DIA through Discord or Telegram.

The use cases for DIA's API are vast and varied within the blockchain ecosystem. Developers can leverage DIA's price information in several DeFi applications, such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Furthermore, NFTfi applications can also benefit from DIA's API, including peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and many others.

In summary, DIA offers both free and custom API endpoints for accessing real-time price feeds of various crypto assets. While the free endpoints provide valuable information, the ability to customize feeds according to specific needs makes DIA's custom feeds more beneficial and useful for users. Developers can make use of DIA's APIs to power a wide range of DeFi and NFTfi applications within the blockchain ecosystem.

What is DIA's Bitcoin Gold price oracle?

DIA's Bitcoin Gold price oracle is a smart contract that provides real-time price feeds for various cryptocurrencies, including Bitcoin Gold. DIA has integrated its price oracle with over 35 layer 1 and layer 2 networks, allowing it to deploy price oracles in multiple blockchains. The price feeds offered by DIA are created using raw data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accurate and reliable information.

While DIA provides free demo oracles for developers to test, these are solely for testing purposes and cannot be integrated into production applications. However, DIA also offers custom price feed oracles that can be tailored to meet specific requirements. These custom oracles allow users to customize their data feeds in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA through Discord or Telegram.

DIA's price oracles have numerous use cases within the blockchain ecosystem. In the DeFi realm, they can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. For NFTfi applications, the oracles can support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other related use cases.

In simple terms, a blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in enabling smart contracts to interact with real-world data, expanding their functionality and potential use cases.

Why use DIA's BTG API & price oracle?

DIA's BTG API and BTG Price Oracle offer numerous benefits to users in the blockchain ecosystem, particularly in terms of accessing accurate and reliable price data for cryptocurrencies and NFTs. One key advantage of using DIA's API and Price Oracle is the high level of customization available. Users can tailor each oracle and API endpoint to meet the specific requirements of decentralized applications. This includes configuring the data sources that make up the feed, applying data cleaning filters and pricing methodologies, and determining the update mechanisms and frequency of the feed. By allowing for such customization, DIA ensures that its data and oracles remain robust and resilient to market conditions, providing both global market and individual or cross-chain market prices.

Transparency is another significant benefit of using DIA's API and Oracle feeds. The company provides full and granular transparency throughout the entire data journey, offering users the ability to closely track and monitor its oracle and API feeds. This transparency instills confidence in users, enabling them to verify and trust the accuracy and integrity of the price data provided by DIA.

In summary, DIA's BTG API and BTG Price Oracle deliver accuracy, reliability, and customizability in accessing price data for cryptocurrencies and NFTs. With a focus on transparency and robustness, DIA ensures that users have access to reliable and tailored solutions that meet their specific needs in the blockchain space.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.