Review on Bitcoin Diamond by anderson silva

Throughout human history, people have been making transactions. Currency has evolved over the years in the form of shells, beads, jewellery, coins, and most recently, fiat money. Fiat money is what most people nowadays are used to. It offers significant benefits over its predecessor in terms of being relatively easy to transport and easily measurable. However, fiat money is not without its limitations — it can be subject to volatile inflation, particularly under the control of unstable governments; it can be inconvenient to use when traveling between countries; it can be counterfeited and it can be stolen relatively easily. Cryptocurrency solves these problems: it is based on a decentralized blockchain which keeps inflation under control by design; it can be easily accessed from any location; each transaction is verified by multiple computers around the world; and each wallet is guarded by a highly secure private key. By addressing head on the flaws of fiat money, cryptocurrency is emerging as the next phase in the evolution of money. Here is a simplified explanation of how a cryptocurrency transaction works. For example, Maria in Venezuela wants to purchase a cell phone case from Carlos in Colombia. Maria purchases some Bitcoin Diamond (BCD) from an exchange and transfers it to her digital wallet. From her wallet, she sends a BCD payment to Carlos’ wallet address. The transaction is verified by multiple computers around the world (known as miners) with a cryptographic signature. Once the transaction is confirmed, it is added as a new block to the BCD blockchain. With BCD, each transaction and wallet balance is kept fully anonymous. Almost instantly, the funds will appear in Carlos’ digital wallet and he delivers the cell phone case to Maria.