Bitcoin Diamond icon Bitcoin Diamond (BCD)
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add active $0.46  on  Nov 19, 2019 


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Overview of Bitcoin Diamond

What Bitcoin Diamond seeks to is the privacy aspect that Bitcoin core couldn’t provide. Besides, they have increased the number of coins in circulation by a factor of 10 meaning there are 210 million BCDs in circulation. This fork occurred at block height 495866 generating the new Bitcoin Diamond chain (BCD).

 Since then, BCD miners have been creating new blocks with a new proof of work algorithm. BCD new blocks are large and with high throughput ensuring efficiency. As it stands, BCD was generated in the after math of Segwit and the failure of Segwit 2X implementation. With Segwit, blocks sizes were increased and BCD works hard to minimize production of isolated blocks. Then Again, BCD uses the X13 hashing algorithm with a mix of PoW and PoS for consensus meaning it can be mined with normal GPUs.

Just like other forks of Bitcoin, BCD aims at being an improved version of the former. Bitcoin Diamond offers faster transactions by adding on lighting network, reduced costs of transfers and reduced cost of participation by increasing the total supply of BCD and lowering the price to encourage people to participate.