Bitcoin Diamond (BCD) - Bitcoin's hard fork is a way to success

You can try to create your own cryptocurrency on a separate blockchain. You can also use an already existing blockchain and put a separate token on it. But you can also use IT skills for some kind of piracy - make a hard fork, then take a known name and count the profits. The developers of Bitcoin Diamond took the last path.

We continue the Forex Club portal cycle in which we describe the most known, the most interesting, the largest and the most controversial cryptocurrency projects from around the world. Today is time for the next Bitcoin outlaw - Bitcoin Diamond.

Bitcoin Diamond is created

Bitcoin Diamond is the third Bitcoin hard fork. Earlier they had separated from the main chain Bitcoin Cash (BCH) and Bitcoin Gold (BTG). On November 24.11.2017, 007, BCD was separated - thanks to two internet users or groups, signing themselves with the pseudonyms Team Evey and Team XNUMX. They ensure that it was not about easy earnings, based on a proven code and a very well-known name, but about creating a cryptocurrency that will be offered more privacy than Bitcoin and, above all, will be faster than it. They emphasize that thanks to the possibility of attaching subsequent chains using GPUs (and not only specialized miners, as in Bitcoin), the new cryptocurrency provides less centralization and higher security.

Controversy around Bitcoin Diamond

As it is easy to guess, many did not believe these assurances and do not believe them to this day. The name itself raises the greatest doubts - the obvious reference to Bitcoin is undoubtedly an attempt to gain its popularity. Meanwhile, these are completely separate cryptocurrencies, which, although they share a similar code and name, but not much else.

Opponents of Bitcoin Diamond accuse its creators that all the alleged changes and facilitations in the new cryptocurrency were achieved at the lowest cost, and in a not entirely ethical way - through a hard fork, i.e. disconnecting from the Bitcoin chain.

How BCD works

Ultimately, there will be twice as many units in BCD than in Bitcoin. There were more of them from the very beginning. At the split, each BTC holder received 10 times more BCD.

Bitcoin Diamond is not a private coin, but in the public addresses of its users you can leave encrypted information about the amount of cryptocurrency you have and transaction history, which are much faster than in Bitcoin, because they are used in invented by the creators of the network DigiByte SegWit technology that reduces network load. Thanks to this they are also cheaper than in Bitcoin. You can also carry them 8 times more at the same time. In the near future, SegWit will be completely replaced by Lightning Network, also used in Bitcoin.

Further BCD blocks can be dug up. The difficulty of digging changes every 2016 blocks, which is the same as in Bitcon. It usually takes about two weeks. Also occurs here halving. In 2020, the reward for digging another block halved is 62,5 BCD.

Bitcoin Diamond (BCD) Quotes

Bitcoin Diamond is currently listed on 20 cryptocurrency exchanges around the world. As of 19.05.2020/0,56/186,4, you will pay USD 89 for each unit. Currently, there are over 210 million units in circulation, i.e. about 104,6% of the 3,2 million target is already excavated. Its capitalization exceeds USD XNUMX million, and the daily turnover reaches USD XNUMX million.

The cryptocurrency peaked at November 25.11.2017, 104,84, when it cost $ XNUMX.