BitcoinDiamond: just another bitcoin fork?

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We get a new bitcoin fork, BitcoinDiamond – BCD-. BCD developers announced that the coin had successfully bifurcated into block 495866, with the support of “28 global exchanges”. The abrupt entry of BCD into the market occurs less than two weeks after Bitcoin Gold (BTG) launched the negotiation, and Bitcoin Cash (BCH) bifurcated even during the same period.

With some “unknown” developers, a mysterious “Bitcoin Diamond Foundation” and with little technical information besides the reduced tone of the staff’s responses in Bitcointalk, this interesting bifurcation ensures to be the speedy solution of bitcoin transactions.

BitcoinDiamond is based on the Bitcoin platform with POS standard and implements all standard methods. As a Bitcoin version, BitcoinDiamond first implements the Proof-of-Stake mechanism, which means that holders can earn some additional coins only for a period of time greater than or equal to the minimum age of coins.

As far as the BitcoinDiamond developers are concerned, they say on the cryptocurrency website that since there have been many ICO SCAMS, they thought of making a respectful version of the Bitcoin environment. The team will remain anonymous for security reasons, but in their Bitcointalk profile they will be active so that members of that forum can write suggestions.

According to its developers, with BitcoinDiamond the waiting time in the block solution is significantly reduced. An interface that includes some standard functions was defined in the BitcoinDiamond code, which is like the Bitcoin standard. It is a new currency designed specifically to help developers easily issue proof-of-stake coins.

BitcoinDiamond has a maximum currency supply of approximately 4.6 billion virtual diamonds, approximately 300 times more than the Bitcoin supply. With more than 7 billion people on earth, this will provide enough BitcoinDiamond for everyone without creating any kind of annoyance for the community. It will be another 93 years before the BitcoinDiamond cap is reached.

Anyone can have the cryptocurrency and be rewarded with BitcoinDiamond just issued. All you have to do is download a wallet and keep the wallet online to process the transactions. This uses your computing power to distribute and verify the network and get rewards.

BitcoinDiamond uses open source code, which means that everything is public and can be verified, this is what makes the digital currency powerful. Everything is transparent and available for viewing and nobody has more authority than anyone else. Your authority is only based on the amount of BitcoinDiamond you have, and anyone can be part of the network.

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