Bitcoin Diamond, the best among all Bitcoin (BTC)
Bitcoin Diamond, best Bitcoin. This is the slogan launched by the Bitcoin fork. It is an altcoin that plans to become the perfect cryptocurrency for users. Its main objective is to protect confidentiality by encrypting transactions. To this objective are added speed and scalability. Such ambitions risk undermining the mother cryptocurrency and other market competitors.
Presentation of cryptocurrency
Bitcoin Diamond is a circulating cryptocurrency. The bitcoin diamond price is about 0.470999 € with a 24-hour trading volume of approximately $ 3,950. Let’s see the history of this currency and its particularity.
Bitcoin Diamond comes from a hard fork of Bitcoin. An improvement has been made in terms of confidentiality. The Bitcoin network suffers from a problem of user anonymity. Bitcoin Diamond has focused on this problem in order to satisfy internet users.
The fork of Bitcoin is based on the characteristics of the mother cryptocurrency. The few modifications are found at block 495866. The chain generated has become Bitcoin Diamond (BCD). The platform aims to protect account transfers and keep user confidentiality.
Motivations of the Bitcoin fork
Besides confidentiality, speed and scalability are the major problems of Bitcoin. These issues cause division within the developer community. This is why the team wanted to generate a new version able to solve these drawbacks.
BCD EVERY and 007 development teams are behind BCD. His ultimate goal is to become the best virtual piece there is. In the sense that virtual currency wishes to remedy all the problems encountered by cryptocurrency users. The founders of digital currency thus aim to create a virtual coin capable of protecting the privacy of users. They want to create a fast digital currency that suffers from no blockage.
The history of Bitcoin Diamond
The original Bitcoin network was created by a person known as Satoshi Nakamoto in August 2008. It originated the concept of peer-to-peer transactions without third parties. The emergence of Bitcoin has encouraged the creation of other cryptocurrencies. However, the BTC has been the subject of numerous criticisms.
Like Bitcoin, the true identity of the founder of BCD is unknown to the public. The Bitcoin Diamond foundation supports the development of the virtual coin. Cryptocurrency officially launched in December 2017. Its network was launched in the third quarter of 2018.
What are the differences between Bitcoin Diamond and Bitcoin
The first difference is in terms of transparency. BCD promises greater anonymity by encrypting the sums kept in the wallets. Another difference between the two currencies is the size of the blocks. Bitcoin only presents 1 MB against 8 MB for BCD.
Altcoin wants to restore the main founders of Bitcoin. He wants to make mining accessible to the general public. Unlike Bitcoin, which requires specialized equipment, Bitcoin Diamond offers standard mining. Its network is more decentralized compared to that of its competitors.
- How does the Bitcoin diamond ?
Bitcoin Diamond puts privacy first. To do this, the team behind this altcoin found a way to encrypt amounts and balances.
The block chain of BCD has the same characteristics as that of BTC. However, its operation is independent of the Bitcoin blockchain. BCD coins are generated with a cap of 210 million units. Between the distributed tokens, 170 million units are paid to Bitcoin holders.
With a block size of 8 MB, the BCD network optimizes the speed of block output in order to simplify and speed up transactions. In order to avoid inflation, the coin was created with a maximum supply of 4.6 billion units.
The proof of work algorithm
Bitcoin Diamond uses the PoW or Proof-of-Work algorithm. With this mechanism, it takes 1000 blocks to extract. At the end of this extraction, the platform will move on to the proof of stake. Since its appearance, Bitcoin Diamond has experienced progressive value. The price of Bitcoin Diamond keeps getting better.
To ensure user privacy, the platform uses encryption techniques that are used to conceal details of the transaction amounts. These procedures are somewhat similar to Monero’s encryption methods.
All Bitcoin holders automatically receive Bitcoin Diamond at the time of the range. For a BTC held, the owners benefit from 10 units of BCD. These users are invited to participate in the validation of transactions in the chain. This participation is rewarded by BCDs.
Mining is carried out either in public mining basins or individually. In addition to mining operations, other activities are also available within the platform. Users can contribute to the development of the ecosystem in return for BCD.
The pros and cons of this cryptocurrency
The bitcoin diamond price is of 0.470999 €. Also, an investment in this cryptocurrency can be profitable. Virtual currency has other advantages and some disadvantages.
Cryptocurrency brings a number of advantages over Bitcoin. It ensures the protection of privacy by encrypting the amounts. Its transaction speed is more impressive. These strengths encourage some users to use cryptocurrency. A boom in BCD can promote price of Bitcoin Diamond.
Bitcoin Diamond is considered by some users to be another fork of Bitcoin. The latter has indeed undergone a considerable number of hard forks which have ended up tiring users. One more fork risks seriously harming the mother cryptocurrency and the altcoins that result from it.
How to buy this cryptocurrency?
It’s interesting to stay on top of the evolution of bitcoin diamond price in terms of the benefits it offers. Here are the purchasing procedures to follow if you want to get BCDs.
BCD purchasing methods
The easiest method to buy BCD tokens is by credit card payment. You can get tokens with PayPal. It is possible to buy Bitcoin Diamond by bank transfer. Another method is to exchange virtual currency for other cryptocurrencies.
Some virtual currencies cannot yet be purchased in cash, unlike Bitcoin Diamond. To do this, prepaid cards must be used. This method remains the most discreet and the fastest.
The best sites to get BCDs
YoBit is one of the best sites to buy Bitcoin Diamond. It is a trading platform originating in Russia. It is a trusted site that officially offers to trade Bitcoin Diamond.
You can also buy Bitcoin Diamond from the Binance platform. The latter has the advantage of being secure. As a young platform, BCD is only supported by a handful of portfolios, like bitgo, Coldlar, Atoken Bitpie and Kcash.