Ethereum Gold describes itself as a decentralized platform that runs on a blockchain ledger and operates through a digitized crypto-asset called GOLD. GOLD is created based on the current gold price on the London Bullion Market Association (LBMA). Ethereum Gold utilizes a private blockchain called the Graphene platform.

Several recent cryptocurrency firms have successfully integrated physical gold into the blockchain. Moving gold has always been a difficult task. People would have to purchase gold bricks and store them safely. The method was clumsy, tedious, sluggish, costly, and prone to hackers. The Ethereum gold blockchain claims to speed up the process, protecting your gold while lowering costs and allowing the item to be moved seamlessly across borders, all while protecting your investment from theft and loss.

According to its whitepaper, Ethereum Gold is a blockchain-based solution for storing and utilizing gold in a straightforward, safe, and hassle-free manner. Moreover, Ethereum Gold claims that the company uses a unique blockchain that allows gold owners to trade, loan, and generally benefit from their assets. Ethereum Gold uses ETF (exchange-traded funds) for liquidity and flexibility. ETFs allow users to exchange gold considerably more quickly than physical gold. Ethereum Gold trades GOLD at the current physical gold market price. As a form of security, the company utilizes ETFs or actual gold (of 999 purity). The gold reserves of Ethereum Gold are equal to or more than the quantity of GOLD mined.

Moreover, GOLD crypto assets may be kept in a specific and safe storage bot for a long time, with the possibility of changing the gold to a cryptocurrency like BTC, ETH, Dash, and so on.

The native token of the platform is "ETG." ETG is an altcoin utilized to confirm GOLD crypto-asset transactions. ETG utilizes the ERC20 protocol for peer-to-peer transactions. Peer-to-Peer (P2P) transactions transfer funds from one person's bank account to another through the internet. ETG's expansion is dependent on the crypto asset GOLD's turnover. In addition, ETG tokens cannot be burned. Therefore, to ensure immutability and transparency, all ETG transactions are recorded on the Ethereum Blockchain. The max supply of ETG token is 230,000,000 tokens.

We update our Ethereum Gold to USD currency in real-time. Get the live price of Ethereum Gold on Coinbase.