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Review on Bitcoin Diamond by Bethany Clements
Hardforks, a change in rules of a cryptocurrency making previously void…
Hardforks, a change in rules of a cryptocurrency making previously void transactions on the Blockchain valid, emerged for possible solutions to the limitations encountered. Based on a news article in Cointelegraph, These hardforks were a way of creating a split in a cryptocurrency. There is a description of a split a permanent moving away from a previous version of the Blockchain and older version nodes would not be accepted by this newest version.
Pros
- One of the objectives of this cryptocurrency is to become the “improved coin” which is decentralized. There are numerous criticism is concerned with the anonymity of the team members behind the fork of this cryptocurrency. However, the promise of decentralization will further reinforce the belief of cryptographic proofs.
Cons
- Bitcoin Diamond is new – It’s been less than a year since Bitcoin Diamond was created and we haven’t yet seen if the development team will really perform. It’s also far too early to know if the BCD token will appreciate in value and become stable.
