1 Level
11 Review
9 Karma
Review on Bitcoin Diamond by Tran Le
The team behind Bitcoin Diamond wanted to encrypt more user information…
The team behind Bitcoin Diamond wanted to encrypt more user information. However, they have recently decided not to add more privacy features to BCD. They feel that governments will soon start passing laws that stop cryptocurrencies from hiding user data. In a statement published on Medium, the team noted Japan and Russia as examples of this trend.
Pros
- Faster transaction times: Most cryptocurrencies are struggling to reduce the time it takes for transactions to be completed. The Bitcoin network can only process about 2-7 transactions per second (Tx/s). Payment processing services like Mastercard and Visa can process thousands of transactions per second. The BCD team felt that it was time for Bitcoin to catch up!
Cons
- The high Transaction Fees associated with Bitcoin has become a great resistance for transfers and extremely hindered the volume for users to choose Bitcoin
