Bitcoin Diamond (BCD) – Is It Worth? An In-Depth Guide

What is Bitcoin Diamond?

Bitcoin Diamond is a fork from Bitcoin with the purpose of providing better privacy and improved mining decentralization through a changed mining algorithm. The ticker for Bitcoin Diamond is BCD, and the maximum block size is 8MB. BCD encrypts the amount transacted and has increased the supply by factor 10, so total supply is 210 million.

Block time is 10 minutes, and a difficulty adjustment occurs roughly every two weeks.


History

Bitcoin Diamond forked from Bitcoin at block height 495866 (~24. November 2017).

Everyone that possessed BTC at the date of the fork was given 10 BCD via airdrop.

Developers and initiators are anonymous.

To find out insider news, before-the-public, I advise you to bookmark www.blockchainwhispers.com

Can Bitcoin Diamond be mined?

Yes, Bitcoin Diamond is based on Proof-of-Work. The mining algorithm is X13. Bitcoin Diamond plans to switch to Proof-of-Stake shortly.


What differs Bitcoin Diamond from other Cryptocurrencies?

The main difference in comparison to BTC is that Bitcoin Diamond multiplied the supply by 10 to make it more accessible. And BCD allows for a maximum block size of 8MB.


How much is Bitcoin Diamond worth today?


What is the total and the circulating supply?

The maximum supply of BCD is 210 000 000, the total supply is 156 560 875 BCD and the circulating supply at the time of writing is 153 560 875 BCD.


You can buy BCD on several cryptocurrency exchanges, most notably Binance, Huobi, and OKEx.


Can BCD be sold for cash?

You can sell BCD for cash on several cryptocurrency exchanges that have fiat-pairings, most notably Coinnest (not recommended) and indodax (not recommended).

Bitcoin Diamond Future Development

Future Development

BCD plans to integrate SegWit and aim to switch to Proof-of-Stake as a consensus mechanism.


Verdict and Rating

0/10
Another useless Bitcoin fork backed by anonymous developers. They claim to make BTC better; this couldn’t be further away from reality. 8MB blocks, for example, highly favor mining centralization. I expect this thing to be dead and disappeared by the end of the year.

Blockchain Whispers, one of the best crypto website, discussed Bitcoin forks several times and helped me to stay informed. If you wish to remain updated, please visit: https://blockchainwhispers.com/about-2/
0 / 10.0
Page Score:

Disclaimer

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Author

Contributor : Adolph Obasogie

Gb Adolph Obasogie is a Chartered Accountant, and he worked for several years as an Independent Consultant for World Bank projects in emerging markets. As an Emerging Markets Analyst, he has analyzed several portfolios for clients in the Middle East, North America, Europe, and Africa. He has a deep understanding and insight on the workings of Cryptocurrencies and their real-world applications. You can connect with him on Linkedin.

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