# Jack Liao

> Jack Liao is a Chinese software engineer and Bitcoin Gold founder, aiming to decentralize mining by creating an ASIC-resistant version of Bitcoin.

- Canonical URL: https://iq.wiki/wiki/jack-liao
- Categories: People in crypto
- Tags: Founder
- Created: 2024-07-26T15:42:40.356Z
- Last updated: 2024-07-26T17:28:06.756Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Jack Liao** is a Shenzhen-based, Chinese software engineer known as the founder of [Bitcoin Gold](https://iq.wiki/wiki/bitcoin-gold). [\[1\]](#cite-id-h99eazl4onk)  
  
  
# Career  
  
## Bitcoin Gold  
  
Jack Liao forked Bitcoin Core at block 491,407 to launch [Bitcoin Gold](https://iq.wiki/wiki/bitcoin-gold) in September 2017. The aim was to create an ASIC-resistant version of [Bitcoin](https://iq.wiki/wiki/bitcoin) to decentralize the network, addressing the concentration of mining power. The concept behind Bitcoin Gold was "one CPU one vote," reflecting [Satoshi Nakamoto’s](https://iq.wiki/wiki/satoshi-nakamoto) original vision where every node could [mine](https://iq.wiki/wiki/mining) coins. [\[2\]](#cite-id-c52vk8mlzwm)  
  
During the 2017 debates on Bitcoin forks, Liao engaged in discussions with figures like [Craig Wright](https://iq.wiki/wiki/craig-wright) and Jihan Wu. Since 2018, Liao has remained low profile, while the Bitcoin Gold community continues developing BTG. [\[2\]](#cite-id-c52vk8mlzwm)  
  
In May 2018, Bitcoin Gold experienced a [51% hashing attack](https://iq.wiki/wiki/51percent-attack) by an unknown actor, allowing manipulation of the [blockchain](https://iq.wiki/wiki/blockchain) ledger and double-spending of digital coins. During this attack, approximately 388,000 BTG (worth around US$18 million) was stolen from several cryptocurrency [exchanges](https://iq.wiki/wiki/decentralized-exchange). Subsequently, Bitcoin Gold was delisted from Bittrex after the team declined to contribute to damages. [\[3\]](#cite-id-301lw7ct1x4)  
  
## Lightning ASIC  
  
Jack Liao is also the founder and CEO of Lightning ASIC, a computer mining firm based in Hong Kong and founded in September 2013. Lightning ASIC focuses on [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) and invests in ASICs (Application-Specific Integrated Circuits), mining, transaction systems, etc. [\[1\]](#cite-id-h99eazl4onk)