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Review on Bitcoin Diamond by Alicia Morrison
Bitcoin Diamond has helped decentralize mining – The centralization of Bitcoin…
Bitcoin Diamond has helped decentralize mining – The centralization of Bitcoin miners has been an ongoing problem, but Bitcoin Diamond doesn’t suffer from this problem. The main reason is that it split from the SHA-256 algorithm that is controlled by ASIC miners and moved to a GPU-mining friendly algorithm
Pros
- It’s a faster cheaper way to send money– One of the key reasons for the creation of Bitcoin was to make sending money easier and cheaper. Bitcoin Diamond has certainly accomplished that, and it is both faster and cheaper than Bitcoin. In fact, it is cheaper than most cryptocurrencies, primarily due to its low value when compared with other major cryptocurrencies
Cons
- The danger of more advanced cryptocurrencies entering the market – Bitcoin Diamond was created to address perceived flaws in Bitcoin. It’s still very early in the cryptocurrency game, so there’s no way to see if an even better alternative will come along in six months or a year, or even 2 years.
