Review on Bitcoin Diamond by Olugbenga Ajayi
Can Bitcoin diamond measure up with bitcoin
One of the major reason for introducing cryptocurrency is to free people from exorbitant transaction rate charged by traditional financial institution.
Another problem is slow transaction
but the use of Bitcoin did not reduce this in any way due to high transaction rate inherent to the project.
To solve this problem a fork project was founded to provide user with lower transaction fees. This project is known as Bitcoin diamond. Another problem with it is slow response rate to customer.
Most cryptocurrency including bitcoin did not solve any of these.for Bitcoin it's slowness is because of BTC blocks have been limited to 1mb in size which translates into 3: transaction per second.
The team behind this project wrote changes necessary to implement a faster transaction fee and also make transaction faster.Also they implement a protocol that makes it possible for BCD to raise the block size limit to 8mb.
This is fine because users can now enjoy faster transaction and get it done with lower fee.
Recently BCD has been giving more attention to growing it's user basebby offering attractive options e.g low fees, fast payment and worldwide free shipping.
It hope to become a coin that does not suffer from privacy protection and slow transaction. I believe they on the right path already.
BCD is currently up 11.53% and it is priced at $0.373060. Since it started till now it has been roughly 99% below it's all time high.
Pros
- Faster transaction
- Lower transaction fee
- Better privacy protection for users
Cons
- They need to get more adoption
