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Review on DigiByte by Camie Spivey
The original Bitcoin blockchain will continue unaltered, but a new branch of…
The original Bitcoin blockchain will continue unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call “Bitcoin Diamond”.
Pros
- Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will 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. This will cause a bifurcation of the Bitcoin blockchain.
Cons
- Q: What is the total amount for Bitcoin Diamond (BCD)? A: The total amount of BCD is 210 million. No more increase. 170 million BCD, 1BTC : 10BCD will be presented to the Bitcoin holders for the long-term Bitcoin ECOSYSTEM support. The rest 40 million will be automatically transferred into the community rewards pool as tributes and mining. Q:What problems do Bitcoin Diamond attempt to solve? A: After nine years of rapid development, high transactions fees and Bitcoin no longer meets the demands from rising numbers of clients. And various kinds of problems have arisen, which mainly consist of the following aspects 1.Lack of privacy protection. 2.Slow transaction confirmations. 3.High threshold for new members
