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Review on Bitcoin Diamond by Louise Griffin
Note that unlike the original Bitcoin that requires miners to invest in…
Note that unlike the original Bitcoin that requires miners to invest in advanced and expensive ASIC mining equipment, Bitcoin Diamond uses X13 mining algorithm which means that you can use even the standard computer GPU.
To raise the chances of confirming more transactions, you should consider joining BCD mining clubs. These are groups of people who come together to consolidate the hashing power and raise the chances of confirming more transactions. Note that the coins mined using pools are shared among the members based on the mining power each contributed.
Pros
- Mining at the Bitcoin Diamond network involves solving complex mathematical puzzles in order to confirm transactions for a reward. The Bitcoin Diamond network relies on miners to confirm transactions and build consensus on contentious issues. This means that miners are part of the network decision-making network that defines the direction that the network takes in most of the issues.
Cons
- To mine the Bitcoin Diamond network, you will need to download and install the Bitcoin Diamond core client. This involves downloading the entire blockchain and installing it in your computer to become a node. Then, you will require an appropriate miner to start confirming transactions.
