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Bitcoin Diamond

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Description

What does Bitcoin Diamond do?

Bitcoin Diamond is a fork of Bitcoin that seeks to solve Bitcoin’s scaling issues and provide faster, cheaper transactions. Bitcoin Diamond increased the block size to 8 MB from Bitcoin’s 1 MB. This larger block size means more transactions can be verified in one block. Thus, more transactions can be processed at a time.

Bitcoin Diamond was founded by an anonymous team, which makes many people skeptical about the project. Even though Bitcoin’s team is anonymous, it has a higher level of transparency than Bitcoin Gold does since the maintainers of its code and updaters of its system are known.  

What is BCD used for?

BCD has the same use cases as BTC. It is used to pay for fees when sending transactions as well as reward miners for keeping the network running. If Bitcoin Diamond achieves wider adoption, it’s thought that there will also be practical use when it comes to purchasing items from stores online and offline with BCD.

How can BCD appreciate in value?

The total supply of BCD is 210,000,000 - ten times larger than Bitcoin’s 21,000,000 BTC. Given this relatively large total supply, it is far more difficult for BCD’s price to rise steeply than it is for BTC’s. However, demand for BCD can still outweigh its supply, which will occur with wider adoption and can cause BCD’s price to increase.

What are the differences between Bitcoin Diamond and its competitors?

Bitcoin is clearly Bitcoin Diamond’s biggest competitor. Bitcoin Diamond aims to offer faster transactions by packing more of them into a single block. One issue with Bitcoin Diamond’s solution is that increasing block sizes makes mining more expensive, which can result in a centralized network of large miners. Of course, Bitcoin’s established presence and superior adoption are also difficult to compete with.

  • Mainnet Launch: November 2017
  • Open Source: Yes
  • Consensus Type: PoW
  • Technology: Blockchain
  • Total Coin Supply: 210 MIL 170 million of the total supply will be on the market, while the remaining 40 million is reserved for the community in a ‘rewards pool’ for the purposes of tributes and mining.
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Description

What does Bitcoin Diamond do?

Bitcoin Diamond is a fork of Bitcoin that seeks to solve Bitcoin’s scaling issues and provide faster, cheaper transactions. Bitcoin Diamond increased the block size to 8 MB from Bitcoin’s 1 MB. This larger block size means more transactions can be verified in one block. Thus, more transactions can be processed at a time.

Bitcoin Diamond was founded by an anonymous team, which makes many people skeptical about the project. Even though Bitcoin’s team is anonymous, it has a higher level of transparency than Bitcoin Gold does since the maintainers of its code and updaters of its system are known.  

What is BCD used for?

BCD has the same use cases as BTC. It is used to pay for fees when sending transactions as well as reward miners for keeping the network running. If Bitcoin Diamond achieves wider adoption, it’s thought that there will also be practical use when it comes to purchasing items from stores online and offline with BCD.

How can BCD appreciate in value?

The total supply of BCD is 210,000,000 - ten times larger than Bitcoin’s 21,000,000 BTC. Given this relatively large total supply, it is far more difficult for BCD’s price to rise steeply than it is for BTC’s. However, demand for BCD can still outweigh its supply, which will occur with wider adoption and can cause BCD’s price to increase.

What are the differences between Bitcoin Diamond and its competitors?

Bitcoin is clearly Bitcoin Diamond’s biggest competitor. Bitcoin Diamond aims to offer faster transactions by packing more of them into a single block. One issue with Bitcoin Diamond’s solution is that increasing block sizes makes mining more expensive, which can result in a centralized network of large miners. Of course, Bitcoin’s established presence and superior adoption are also difficult to compete with.

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