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Review on Bitcoin Diamond by Nadine Chartier
The process of mining Bitcoin has become so much centralized with the…
The process of mining Bitcoin has become so much centralized with the companies that manufacture specialized ASIC mining equipment controlling the mining process. Now, Bitcoin Diamond claims to target restoring mining to the ordinary people by making sure that they can also mine the network using standard GPU (Graphics Processing Unit) devices.
Pros
- When Bitcoin was created, the main aim of Satoshi Nakamoto was to form a completely decentralized cryptocurrency. It also promised to make transactions private, fast, cheaper, and reliable. While there is no doubt that Bitcoin was not designed to be a perfect crypto, newer options that are emerging today are hinged on addressing issues related to shortcomings of Bitcoin.
Cons
- Many people have been fast to ask what happens to the original holders of the Bitcoin. The hard fork means that the original Bitcoin will continue in its normal operational design while BCD will form a branch. Both blockchains will share the same history until block 495,866 when they part ways.
