Bitcoin Diamond Price & Charts
Bitcoin Diamond News
What Is Bitcoin Diamond ?
It is a decentralized cryptocurrency, hard forked from Bitcoin to solve anonymity or privacy issues. It was forked from an exact height of block 495866, leading to a birth of BCD on 24th November,2017.
In recent times, Bitcoin was hard-forked and that, led to the birth of, Bitcoin Gold, Bitcoin Cash and recently Bitcoin Diamond(BCD). The essence of hard-forking is to get a new chain that is better than the parent chain. This is yet to be seen in Bitcoin hard-forks.
Bitcoin Diamond aims to deal with problems associated with privacy, slow transactions and a high threshold for new members. If all these issues are tackled, then financial companies worldwide are in for good times.
In December 2017 Bitcoin Diamond introduced main-net, nodes, wallet, open source code and API release to the public.
Finally, plans are the way to upgrade an algorithms for BCD core-chain encryption, the new algorithm will encrypt the transaction made, the persons involved and the amounts transacted.
Bitcoin Diamond claimed to have provided fast transactions thanks to smaller size block of 8MB. Another frightening dimension is the release of 210 million BCD into circulation. This release is ten times larger than Bitcoin’s coins in circulation. This has further confirmed that BCD is not hard-forked. It is another cryptocurrency riding at the back of Bitcoin in an attempt to rake more money for developers.
TEAM of Bitcoin Diamond
The development team is made up of three men as explained in BCD’s website; they are Evey, 007, and +(plus).
The BCD Foundation has also announced that Linke Yang has joined them as an advisor. He is a co-founder of BTCC and a reputable name in the blockchain industry. The first task given to him is to help BCD gain ground in China.
Uses of Bitcoin Diamond
- It is used as an API Interfaces, optimized to improve scalability.
- The team has concluded a lightning network testnet for its ecosystem, and it will be a useful resource for developers.
- The BCD’s UJ is good for Optimizing Blockchain explorer
Mining of Bitcoin Diamond
Bitcoin Diamond deploys X13 algorithm, for mining which is an improvement to Bitcoin GPU mining. Bitcoin Diamond also supports SegWit. And many miners seem to have found new heaven in Bitcoin Diamond mining,
Mining can be done via pool mining. In pool mining, a pool is set up, and individual resources are combined to mine. A reward is distributed according to individual’s resources. A reward can only be given when a block is added to the blockchain and the transactions recorded.
Bitcoin Diamond also support AMD and NVidia based GPU mining
Notes for Investors
BCD debuts on exchanges gain currency
At the time of writing of the report, 33 exchanges have debuted BCD, and this has made BCD gained in the cryptocurrency market.
Presently, BCD trade at a unit price of USD 2.70 which is about 10.41% gain compared to two months ago. The market cap is USD 413,179,965, and the circulating supply is 153,078,375 BCD .
All these statistics point to the fact that, BCD is improving in-terms of value. The recent announcement made by the R&D of Bitcoin Diamond that, more advisors are joining them soon has made BCD popular.
Disclaimer: This report is not intended to provide investment advice. This is to educate the members of the public. Seek advice if you plan to invest in any cryptocurrency.