What is Bitcoin Diamond (BCD)?
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 enhance the protection for account transfer and privacy based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue 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”.
Protection of Privacy
Encrypting the amount and balance to protect customers’ privacy.
Fast Transaction Confirmations
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.
Lowering the Cost for Participation Thresholds
Reducing the transaction fees and the cost of participation: The total amount of Bitcoin Diamond is decuple of Bitcoin which means reducing the cost of the new participations and lowering the thresholds.
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.
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