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Review on Bitcoin Diamond by Adaline Lorentzen
Important developments in BCD universe After BCD came into being, it has…
Important developments in BCD universe
After BCD came into being, it has already found some support in the form of exchanges. 33 exchanges have agreed to list the new coin. Some of which are Binance, OKEX, Huobi.Pro and Bit-Z. EXX.com has even announced futures trading of Bitcoin Diamond. Wallets that are supporting BCD include BitGo, Bitpie, Coldlar and ATOKEN. On a technical front mainnet code upgradation has been completed and so has the mining algorithm. Mining pool interface and GPU miner development is currently in progress. BCD will be supporting both AMD and Nvidia based GPU mining.
Aims and objectives
Pros
- This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Hard forks can give birth to new cryptocurrencies and two new Blockchains. It depends then on the community surrounding these chains and the markets as to which one would become more ‘dominant.’ After a hard fork in usual cases holders of the original coin, also end up having the new coin. Bitcoin has had a number of hardforks this year, which include Segwit, SegWit2x, Bitcoin Cash, Bitcoin Gold and the latest being Bitcoin Diamond. While the changes brought in by SegWit allowed Bitcoin to continue on as the currency as it was, Cash, Gold and Diamond have created new currencies. Cryptocurrency forks like the ones that happened in Bitcoin usually require support from coin miners. In case of Bitcoin Diamond, for example, the fork occurred at block 495866 and was made possible by minders Team EVEY and Team 007. The motivations for creating forks can be different and can range from ideological to implementing ‘reforms.’
Cons
- Giving birth to a new coin Bitcoin Diamond (BCD) has now its own chain and even a foundation that will support research and development related objectives. The currency has taken on a divergent road from its parent. The Bitcoin Diamond Foundation has already begun efforts to build a community around the new crypto. In a major development they have secured the help of Co-founder of BTCC, Linke Yang, who will act as an advisor. Yang’s help will help BCD gain ground in China. BCD Foundation informs Cointelegraph that they have already got community teams in place in China, Italy and Korea, while those in North America and Australia are being established. There are plans afoot to bring on board other experts to help conduct R&D activities. Bitcoin Diamond will have a total of 210 mln coins, which is ten times the number Bitcoin has, out of which 170 mln will be available for the markets and the rest would be utilized as a ‘rewards pool’ for the purposes of tributes and mining.
