Bitcoin Diamond: 6 Things You Need to Know
The fresh Bitcoin variant features fatter blocks, quicker transactions and enhanced privacy for users.
Bitcoin just can’t help it – it is not only appreciating te value like it’s nobody’s business, but is also getting fresh variants on a regular voet. After Bitcoin Contant and Bitcoin Gold, wij now have Bitcoin Diamond.
Like that wasgoed the case with previous forks, Bitcoin Diamond (which token is marked spil BCD) wants to make for a better coin. And like other forks, it too offers what is essentially the free money to all current Bitcoin holders.
Wij’ve read it all, and wished to sum it up for you. Here are the key things you should know about Bitcoin Diamond…
1. Bitcoin Diamond forked on Nov 24
Bitcoin Diamond (BCD) began its life at block 495,866 and assumed its very own chain. The fork took place on November 24, 2017, due to the efforts of Team EVEY and Team 007, two Bitcoin miners who were “not glad with some of the major downsides of Bitcoin,” according to the Reuters report.
Spil many have stated before, Bitcoin may be the most popular cryptocurrency out there, but it is not without its problems. Which leads us to our 2nd point…
Two. Bitcoin Diamond wants to be a better Bitcoin
And is by no means the very first such effort. Let us remind you that Ethereum’s founder, Vitalik Buterin, suggested switches to the Bitcoin network, which straks led to him creating the 2nd most popular cryptocurrency. What Buterin desired to add were wise contracts that are an integral part of Ethereum.
Similarly, the Bitcoin Diamond team desired to improve Bitcoin by enhancing the block size from one to eight MB, enhancing the speed of transactions and making transactions more affordable. Also, they made sure Bitcoin Diamond can be mined with regular desktop PCs tooled with powerful graphic cards.
“Our primary objective is to lower the cost for participation thresholds by reducing the transaction fees and the cost of participation,” a BCD executive said at a press conference announcing the fresh cryptocurrency.
Trio. There will be 210 million Bitcoin Diamond tokens
The total amount of Bitcoin diamond is Ten times spil much of Bitcoin, which translates into reduction of the cost for fresh participation and reduction of the thresholds.
Hundred-and-seventy million of thesis coins would be on the market, while the surplus would be reserved for the community te a “rewards pool” for the purposes of tributes and mining.
Four. Bitcoin Diamond offers more privacy than Bitcoin
At the ogenblik, transactions made te the “regular” Bitcoin network are visible ter the public domain and anyone can see gegevens related to how much amount is ter another person’s wallet along with all of their conducted transactions.
On the other arm, BCD will encrypt the amount and balance, affording greater privacy to users of the fresh cryptocurrency.
Five. Bitcoin Diamond is already trading at numerous exchanges
Spil I’m writing this, BCD has already bot launched at 33 exchanges around the world, according to the Bitcoin Diamond Foundation. Some of the exchanges that have embraced it include Binance, OKEX, Huobi.Voor and Bit-Z, while EXX.com has announced futures trading of Bitcoin Diamond.
Ter addition, the foundation claims that at least six wallets will support BCD, including BitGo, Bitpie, Coldlar and ATOKEN.
6. Bitcoin Diamond has excellent plans for China
The cryptocurrency already has established community te China, spil well spil ter Italy and South Korea, with North American and Australian “branches” being te development spil wij speak.
Also, the BCD Foundation has added Linke Yang, co-founder of BTCC, spil one of its advisors, and BTCC wasgoed the very first digital currency exchange ter China. There are no doubts that Yang will help the fresh cryptocurrency build up ground ter the world’s most populous country.
So what do wij make out of Bitcoin Diamond?
I’m not sure wij would buy into it, but since wij got it for free – wij’ll take the money. BCD is still te its early days, and it’s hard to predict where it will be going from here.
On the other arm, if wij look at the latest past and compare it to Bitcoin Specie and Bitcoin Gold, wij can say that good days are ahead for those possessing this yet-another Bitcoin variant. So wij love it, and wij hope that you’re te the fortunate group of Bitcoin owners, spil well. If you’re not – what are you waiting for?