Review on Bitcoin Diamond by Saleh Bayramli

According to the Bitcoin Diamond website, two main problems have arisen due to the increase in Bitcoin popularity and usage:

Slow transaction confirmations (takes about 10 minutes to confirm transactions)

New members high threshold ( make transaction speed a priority)

Bitcoin Diamond aims to solve these problems using larger blocks and faster consensus algorithms.

The project is quick to reiterate that it does not compete directly with Bitcoin, because according to its website, "Bitcoin Diamond is a fork of the Bitcoin blockchain with improved technology while preserving its original properties. the head of Bitcoin".

In fact, these key differences can help the project succeed because its focus is on complementing Bitcoin.

Bitcoin (BTC) vs Bitcoin Diamond (BCD)

To fully understand how Bitcoin Diamond differs from Bitcoin, one must understand the “triple of computers”. The idea is that we always have to sacrifice security or decentralization to increase the speed/speed of a system.

Supply has increased tenfold from Bitcoin's original supply and the maximum block size, with Segwit adoption, can reach 32MB. Thus, this increases the number of transactions that can enter a block. The project is also compatible with Lightning and extends its functionality to enable fast P2P payments.

Bitcoin Diamond's network seems to be growing quite rapidly. In the project's online marketplace you can find products ranging from electronics to food. There is clearly demand on both sides, which could help more people enter the crypto space, especially as the project targets people with problems purchasing products around the world. gender, such as not having a bank.

If you visit BCD Bazaar, you can find products from vendors like Sony, Samsung or Microsoft, among other well-known companies. Additionally, Bitcoin Diamond offers free worldwide shipping – another attractive feature for buyers.

On the development front, the team has two main implementations on GitHub and appears to be currently working on a GO version of Bitcoin Diamond. Depending on the main implementation, we may not see any commits or updates as of April 2019. If you then visit the new GoLang implementation, you can see the image below.

Although adoption seems to be exploding, the price of BCD has yet to react in kind.

Since its inception, according to Messari, BCD is still around 99% below its all-time high. It's hard to go back if you ask any investor.

Until BCD starts to rally on Bitcoin, it's hard to see its USD benchmark rise past its 200-day EMA - this doesn't even show up on the chart as the price trades so much, so low much more than almost five years since.

However, BCD seems to have found a niche for now, and growing popularity and use can only help the project grow further.