Regarding Bitcoin Diamond (BCD) Issuance
Since there are no new Segwit2x blocks being produced after block height of 494784 (20:48:03, November 17, 2017, GMT+8). Moreover, Segwit2x does not have dynamic difficulty adjustment and replay protection, so there is still a high possibility that Segwit2x hard fork will not succeed and the value of BT2 will turn to zero.
If Segwit2x hard fork fails, Huobi Pro will implement the principle 6 which is posted on our former announcement: Regarding Bitcoin Segwit2x Hard Fork: Huobi Pro's Position (https://www.huobi.pro/notice_detail/?id=647)
Moreover, we will take a snapshot of your BTC and BT1 balances of your Huobi Pro account before the block height reaches 495866 (expected to occur on November 24, 2017, GMT+8). Specific snapshot timing will be updated via announcement. If the BCD hard fork goes well and deemed to be safe, we will give you BCD then. You can receive BCD in 10 times the number of BTC or BT1 you have in your Huobi Pro account. Your assets will be 100% under protection. If you have BTC in Huobi Pro OTC platform (https://otc.huobi.pro/), you will receive BCD in your Huobi Pro account. If you have BTC in Huobi Wallet, you will receive BCD in your Huobi Wallet account.
What’s Bitcoin Diamond?
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”.
What is the total amount for Bitcoin Diamond (BCD)?
The total amount of BCD is 210 million. No more increase. 170 million BCD, 1BTC:10BCD will be presented to the Bitcoin holders for the long-term Bitcoin ECOSYSTEM support. The rest 40 million will be automatically transferred into the community rewards pool as tributes and mining.
What problems do Bitcoin Diamond attempt to solve?
After nine years of rapid development, high transactions fees and Bitcoin no longer meets the demands from rising numbers of clients. And various kinds of problems have arisen, which mainly consist of the following aspects:
1. Lack of privacy protection.
2. Slow transaction confirmations.
3. High threshold for new members.
More info, please visit: http://www.btcd.io
The prices of chain split coins are extremely unstable. We hope that users can have a full understanding of the investment risks of chain split coins and be prudent of your own investment decisions.
November 22, 2017