The price Bitcoin Diamond today is 0.179371 USD, and the trading volume in 24 hours - 537,697 USD. The crypto asset has grown by 2.2% over the day. Currently, the coin’s market capitalization is 33,451,418 USD, and has 186,492,898 coins in circulation with the max supply of 500,000,000 coins BCD.
What is Bitcoin Diamond (BCD)?
Bitcoin Diamond is a cryptocurrency that is the product of the Bitcoin network`s hardfork. Its goal was to create the equivalent of BTC, which would speed up transactions, make them cheaper and provide greater anonymity.
In addition, Bitcoin Diamond network is much less centralized due to mining via GPUs, that is, video cards, which are much more accessible compared to ASIC machines.
Bitcoin Diamond uses the functions of private public addresses, which allows you to hide the balance and transaction history. This is not complete anonymity, but in fact more privacy than in the case of BTC.
SegWit (Segregated Witness) is used for BCD transactions, which reduces transaction fees. It also increases the network's bandwidth, which is eight times higher than that of Bitcoin.
Who is the creator of Bitcoin Diamond?
The project originates in 2017 with the miners "Team Evey" and "Team 007", who wanted to eliminate the shortcomings of Bitcoin Core. Although Bitcoin was the first cryptocurrency to gain widespread acceptance, they felt that it still could not fulfill what was promised as Satoshi Nakamoto's original vision, that is, fast and affordable transactions of any volume, privacy protection, and accessibility for new users. These were areas where those pushing for a hard fork of the BTC blockchain saw an opportunity to try to fix Bitcoin's perceived flaws.
While sharing the main goal of its" parent " cryptocurrency, Bitcoin Diamond is also trying to change the course of things in a slightly different way, in several technical and operational segments.
What is unique about Bitcoin Diamond?
With Bitcoin Diamond, miners will start creating blocks using a new algorithm - PoF (Proof of Work), which better matches Satoshi's original goal of maintaining decentralization. Bitcoin Diamond offers several technical advances in scalability, as well as replay protection and wallet enhancements. With these changes to the Bitcoin protocol, Diamond aims to realize Satoshi Nakamoto's vision of a peer-to-peer electronic money system that is accessible and usable by everyone, regardless of economic status or country of origin.
How many BCD coins are in circulation?
As of February 2021, there were 186,492,898 BCD coins in circulation, with a maximum supply of 210,000,000 BCD.
How is the Bitcoin Diamond network protected?
The Bitcoin Diamond network is protected using the PoF (Proof of Work) consensus.
In addition, its implemented SegWit serves to prevent flexibility attacks where recipients change the sender's transaction ID to get more BCD. Since in the case of SegWit, digital signatures are separate, potential attackers now have to revoke the digital signature when they try to change the transaction ID.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.