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Review on Bitcoin Diamond by adriel atencio

Revainrating 4 out of 5

Though it is still in infancy and a hard fork of bitcoin. Bitcoin Diamond has…

Though it is still in infancy and a hard fork of bitcoin. Bitcoin Diamond has proven and solved some of the issues that bitcoin dealt with in a short period of time. However, there are still more rooms for growth, challenges and wide acceptance. Since disputes do always come, Bitcoin Diamond will definitely rise to the occasion to respond.



Pros
  • Bitcoin Diamond was a hard fork of Bitcoin that occurred at predetermined height of block 495866. It created news within the cryptocurrency world as it addressed the issues that bitcoin had been facing. First in terms of convenience, Bitcoin Diamond is keen on becoming a substitute for fiat and credit cards for purchasing goods and services around the world and giving opportunity for the unbanked and undeserved people to gain access. Secondly, since it has a larger block compared to the mother bitcoin with 1:8 ratio, it will provide a much speedy transaction with lesser fees. Third in terms of mining, Bitcoin Diamond is under the mining algorithm Optimized X13 (GPU), which in turn will benefit by ways of trimming too much power because miners will rely the workloads on GPU and not on SHA 256 (Asic Miners).Mining Pools are properly introduced, and many to choose from depending on what group you want to fit in. Lastly, Independence and trading format changed. In order to avoid the replay attacks, Bitcoin Diamond will not accept Bitcoin deal to avoid the replay trading which is considered to be an ultimate edge on its part. As it seems like it does not want to live under the shadows of Bitcoin's flaws which is correct.
Cons
  • The security features used by Bitcoin Diamond have not been changed. The lightning network has not been fully implemented yet as of this writing. Remember when Bitcoin was first introduced its Developers were anonymous. The same goes with Bitcoin Diamond, its developer are hiding behind the alias.

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