1 Level
5 Review
5 Karma
Review on Bitcoin Diamond by Thomas Pfaff
One similarity is that it uses the Proof of Work algorithm and mining for…
One similarity is that it uses the Proof of Work algorithm and mining for transaction and block verification. Miners receive a reward for providing the computing power necessary to do verifications. It differs from Bitcoin however because it does not use the SHA-256 algorithm.
Pros
- The community and trust of Bitcoin Diamond have been growing – When the Bitcoin Diamond fork occurred there was a huge amount of controversy, and many people outright called the project a scam. That is changing, with a community being built around Bitcoin Diamond and trust steadily being restored.
Cons
- Bitcoin Diamond has advantages, but nothing comes without risks, and Bitcoin Diamond is no exception. If you’re thinking of getting involved with Bitcoin Diamond it’s important that you’re aware of potential risks.
