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Bitcoin Diamond (BCD) Logo
$ 252.43 M
BCD 2,820.58 K
~ 210.00 M
Total Coins Mined
~ 183.53 M
*General last updated 11/16/18 10:13:27 AM
Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and improve the transaction speed based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call 'Bitcoin Diamond'.
Bitcoin Diamond raised the block size limit to 8MB as part of a massive on-chain scaling approach. There is ample capacity for everyone's transactions. The speed of generating blocks will be increased five times and the ultimate goal is to improve transaction confirmation speed for the entire BTC blockchain.
Adding on Lighting network to fast transaction. Do Not require trust of Payment Channels to realize a real-time, massive transaction network.
To solve the situation of the over-priced Bitcoin, BCD increases the total supply of coin and lowers the price to involve more people in participation of the Blockchain world.
The Bitcoin Diamond Foundation is going to deploy its own Lightning Network on July 31 to adapt to high-frequency transactions
The so-called replay attack refers to the fact that if a transaction is valid in BTC, then the bifurcation of BTC will also take effect because most of the algorithms are the same. Means that if someone on the BTC launches a deal in the chain and sends the signed deal to another blockchain, he will get free BTC that shares the same ratio in that blockchain. In order to prevent a replay attack, a slight change has been made on trading format between BTC and BCD, to prevent the replay trading, BCD will not accept BTC deal which truly makes it independent from the BTC.
A rule which can make HD wallet very powerful, and the Bitcoin Diamond token follows this rule. With this rule, clients only need to save a master private key, which can generate multiple sub-private keys and sub-addresses. Clients can easily manage all the balances of the addresses under this master private key, that can also help reducing the possibility of the master private key exposure, which ensures the safety of funds.
Block information are divided into trading information and witness information. Trading information means someone transfer amount at a specific time. Witness information means at a specific node and time to verify the reliability of trading information. Bitcoin put two information into the same block directly, so BTC cannot bear more trading information. By using segwit, block only records trading information and each block will record more trading. Bitcoin Diamond will increase the unit block to bear more trading, in order to optimize the storage of BCD network.
BCD Comparison Chart
As Bitcoin has very high fees and low transfer speed, the Bitcoin Diamond team has set out to look for a better environment. The main idea of Lightning Network is to put a bulk of transactions outside of blockchain while smart contracts are busy refining the off-chain transaction channels. As a result, blockchain just confirms the final transaction results.
As more exchanges keep delisting anonymous cryptocurrencies (Coincheck with Monero, Dash, Zcash; Telegram) in Russia, Bitcoin Diamond is going to adapt to high-frequency transactions and adopt Lightning Network. The goal of the foundation is to design an ecosystem with built-in economical and high-frequency real-time payment.
BCD Lightning Network
Thus, in order to further improve the ecosystem, comply to regulations and be approved by the community, Bitcoin Diamond version of Lightning Network is set to be deployed on July 31 following the developers' assessment and community testing.
The Lightning Network is the second layer payment protocol that works on the blockchain. It is designed to realize real-time transactions between the two parties. The main idea of the Lightning Network is to place a large number of transactions outside the blockchain. The Lightning Network refines the off-chain transaction channels through smart contracts. Throughout the transaction, smart contracts play an important role as the intermediary, and the blockchain ensures that the final transaction results are confirmed.
The Better Bitcoin.