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Review on Bitcoin Diamond by Rakib Hasan
Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at a predetermined…
Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at a predetermined height of block 495866. It shares the same transaction history with Bitcoin until it starts branching and forming its own unique block from which it diverges. BCD miners can begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and enhance the protection for account transfer and privacy based on original features of BTC.The main difference with Bitcoin Diamond is that they multiplied the supply by 10. If you had 1 BTC before block 495866, you now have 10 BCD. This is done by moving the decimal point rather than making the coin more divisible.
Pros
- It’s faster than BitcoinFaster transactionInclusive miningHigh volume/low value transactionsLower transaction feesEncourage new users
Cons
- Bitcoin Diamond hasn’t increased the level of user privacyThe BCD team has promised lightning network technology but hasn’t launched it yet
