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Review on Bitcoin Diamond by Gregoria Posner
What’s the point of Bitcoin Diamond? Which problems does the currency seek to…
What’s the point of Bitcoin Diamond? Which problems does the currency seek to solve? The website identifies three main areas of concern:
Lack of privacy protection
Slow transaction confirmations
High thresholds for new members
In terms of the total supply, it seems that 170 million BCD will be available on the market, while the remaining 40 million will be reserved for a “community rewards pool as tributes and mining”.
Pros
- What is Bitcoin Diamond? Bitcoin Diamond is one of several competing versions of bitcoin that have emerged in recent weeks. Just like similar proposals Bitcoin Silver and Super Bitcoin, Bitcoin Diamond promises to improve bitcoin in a number of different ways.
Cons
- How Does Bitcoin Diamond Work? Bitcoin Diamond, or BCD, is a fork of the bitcoin blockchain. The fork will occur at block 495866. Once that block occurs, a new BCD chain will be generated. At this point, BCD miners will begin creating new blocks with a new proof of work algorithm.
