It is a cryptocurrency that was established in November 2017 as a result of bitcoin network hard splits. The goal of the new coin was to develop a bitcoin-like cryptocurrency that would be quicker, cheaper, and more anonymous.
Bitcoin's value has risen steadily since its creation, as transaction fees have increased and access to the coin has been restricted. Other issues raised by the original bitcoin's development include a lack of privacy protection, lengthy transaction confirmations, and a high thresh-hold for new users. To tackle these issues, the Bitcoin diamond coin was designed. The use of encryption methods masks data about the amount exchanged in bitcoin diamond-based transactions, ensuring privacy.
Table of Contents
Bitcoin Diamond is based on blockchain and cryptocurrency technologies to create a currency that is accessible, trustworthy, and usable to the world's unbanked and underprivileged people. They believe in a world where everyone has an equal chance to prosper. Despite this, 1.7 billion individuals are denied access to a bank account. Bitcoin Diamond, as a quick and secure digital money, promises to liberate the world's rising population's imprisoned capital, intelligence, and creativity. You have access to money that is both convenient and secure to use, regardless of where you reside, with Bitcoin Diamond.
Bitcoin Diamond (BCD) is a bitcoin variant that relies on the existing bitcoin infrastructure to allow more sophisticated privacy features and a new currency (BCD). The fork was pre-planned, with a certain block on the bitcoin blockchain serving as the trigger point for the creation of a new blockchain. It has a similar history to bitcoin until it forks, at which time the new network begins to register its own transactions and mines new blocks.
Bitcoin Diamond miners will start producing blocks using a new proof-of-work algorithm, and will gradually increase transaction speed based on BTC's original characteristics. The Bitcoin blockchain will become bifurcated as a result of this. The original Bitcoin blockchain will remain unchanged, but a new category of the blockchain will fork out from it. It follows the same transaction history as Bitcoin until it branches and enters a unique block, after which it diverges.
On November 24th, 2017, after it achieved a block height of 495,866, Bitcoin diamond was forked from the original bitcoin. The primary net lightning network was upgraded in December 2017, and it is scheduled to be accessible in the third quarter of 2018.
The Bitcoin Diamond team plays a critical role in the coin's ecosystem's growth. The team brings a diverse range of experience to the table. Board members from important organizations and key influencers in the cryptocurrency sector, notably from Asia, make up the core and management teams.
The team has chosen to remain anonymous in order to protect their personal privacy, in keeping with Bitcoin Diamond's intrinsic emphasis on privacy. Each team member's name is based on an action hero's hidden identity. If you want to work with Bitcoin Diamond and need a KYC procedure, you may get one upon request.
Because its blockchain takes on all of the features of the bitcoin network during forking, the bitcoin diamond currency is bitcoin-based. It does, however, run on its own blockchain, which was established immediately after the fork and is separate from Bitcoin's blockchain.
Bitcoin diamond employs a novel PoW algorithm that differs from that of bitcoin. With bitcoin diamond, there are only 1000 blocks to mine using the PoW technique before the network switches to Proof-of-Stake, allowing holders to collect interest on coins stored in a BCD wallet.
In comparison to the BTC network, the BCD network employs bigger block sizes and optimizes each block's block-out speed to allow for quicker transactions. The coin is designed for widespread use and was produced with a maximum supply of 4.6 billion pieces to account for inflation.
Bitcoin Diamond is now available for purchase on cryptocurrency exchanges. The OKEx platform accounts for half of the market's turnover. Bitcoin diamond is also available on Binance, Huobi, and KuCoin, among other exchanges, where it can be purchased alongside USDT, BTC, and ETH. Digging for Coin BCD is an alternate technique of getting it.
You may either mine BCD using the complete node client or with a pool. Some public mining pools that have collaborated with them are featured on their website's main page. For technical assistance and guidance on mining BCD, please join our Facebook, Twitter, Slack, Telegram, or Reddit groups.
Project creators cannot predict their prices. BCD is designed to provide a free dividend for BTC holders. Anyone who had Bitcoin at the moment Bitcoin Diamond was launched became a Bitcoin Diamond owner. Simply by holding Bitcoin, the finest form of money the world has ever seen, you may get the entire advantages of this initiative with no additional risk.
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact BCD’s price and market cap.
Bitcoin Diamond Official website – https://www.bitcoindiamond.org/
Bitcoin Diamond Twitter – https://twitter.com/BitcoinDiamond_
Bitcoin Diamond Reddit – https://reddit.com/r/Bitcoin-Diamond
Introduction The beginning of blockchain technology has started a new period for different business areas,…
Cryptocurrencies rose from obscurity to making global headlines in just 15 years. Bitcoin is the…
Online gambling has become a booming industry in recent years, witnessing an influx of players…
The online gambling landscape is witnessing a seismic shift with the integration of blockchain technology,…
Dive into the Digital Gold Rush: Bitcoin, the New Investment Frontier!
Riding the crypto wave, Bitcoin becomes global zeitgeist!