Bitcoin Gold BTG to Nectar NEC Exchange

Crypto Pair Details: BTG to NEC

Bitcoin Gold BTG

Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies. In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.There have several features such as decentralization. Bitcoin Gold decentralizes mining by adopting a PoW algorithm, Equihash-BTG, which cannot be run on the specialty equipment used for Bitcoin mining (ASIC miners.) This gives ordinary users a fair opportunity to mine with common GPUs. Besides, there have fair distribution. Hard forking Bitcoin’s blockchain fairly and efficiently distributes 16.5 million BTG immediately to people all over the world who have interest in cryptos. Other methods, such as creating coins with a new genesis block, concentrate ownership within a small group. There also have a replay protection. To ensure the safety of the Bitcoin ecosystem, Bitcoin Gold has implemented full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats. Most new mineable cryptocurrencies involve ASIC-resistant hashing algorithms, and it’s becoming something of an industry standard to promote decentralization. In that respect, Bitcoin Gold holds a lot to be excited about. At its core, it’s about transitioning the Bitcoin network to more decentralized mining. However, as we saw above, there’s not much evidence that the current Bitcoin mining system is broken. There have been some small complaints, and it’s not ideal that the network is so centralized. Nevertheless, miners on Bitcoin have a lot to lose if they wield their power too aggressively. There are also new entrants to the Bitcoin mining community that are decentralizing control from a few key ASIC farms. The general consensus from Bitcoin experts is there’s not enough new in Bitcoin Gold to warrant an independent investment. While it certainly doesn’t hurt to hold onto your free BTG that you receive as a result of the fork (if you owned Bitcoin before Oct 24), wait until the dust settles before deciding whether to buy more.'

Nectar NEC

The Nectar token is not intended to raise funds for Ethfinex, and will not be sold through any form of crowdsale, ICO or fundraising mechanism. Instead, the Nectar token will act as a loyalty token. The NEC is designed to maintain liquidity and market efficiency through the incentivisation of platform loyalty. Users who choose to register for the scheme and take on the role of market maker on the Ethfinex platform, or using integrated decentralised exchange protocols, will automatically generate NEC’s, as a loyalty reward, and subsequently earn a stake in the future development, governance and success of the platform. NEC will adhere to the ERC20 Token Standard to ensure cross-compatibility with alternate exchange protocols interfacing with Ethfinex. This allows other protocols and exchanges to reward users for the liquidity they contribute. The fundamental purpose of the Nectar token is to reward market makers for the value they create, in turn encouraging them to maintain market thickness and minimised spreads on the platform trading pairs. Loyalty points entitle holders to loyalty rewards held in the Liquidity Token Smart Contract, which can be redeemed (in part or in whole) through the Redeem Mechanism upon request. Loyalty points can be traded on a secondary market amongst white listed Ethfinex users. If no tokens are redeemed at the end of a 28 day cycle, the total supply of NEC will grow. Ethfinex will hold an initial supply of NEC which will not grow over time — as a result, the percentage ownership will gradually decrease as new tokens are issued and redeemed. The exact governance mechanism will be particularly important in ensuring the details and implementation of the token can be refined in time for the Ethfinex launch. Defining the perfect liquidity incentive mechanism will be impossible without continuous testing and feedback in real markets, and the governance will complete the loop in allowing improvements to take place. Following community feedback, we have decided against the internal redesign of the chosen governance mechanism; instead, we will look to adopt the industry best practise. There are a number of fantastic projects in the space who are currently working on this, such as Aragon and District0x, some of whom we are in contact with, and we are eager to refine our governance model in accordance with them. Ethfinex has come out with a smart solution and is not organizing a direct ICO but I see it as an indirect one with a long-term range into the future where decentralized exchanges will be the future or crypto-economy. Ethfinex’s and Nectar’s token development will bring all the ERC20 tokens under one platform dedicated to Ethereum token economy which in itself will be a huge thing. The total initial supply of NEC is 1 billion tokens out which the current circulating supply is 500,000,000 NEC. This supply will be distributed to the team and early adopters as loyalty points and this will also keep growing every 30 days, with new tokens being created based on market maker programme.

SOURCE: COINGECKO

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