Bitcoin Diamond was forked off of the
Bitcoin blockchain on November 24th 2017
at block height 495866.
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 for which it diverges.
As a result of this process,
the new cryptocurrency – Bitcoin Diamond
was created.
There’s a total of 21 million bitcoins
making it one of the scarcest cryptocurrencies available.
There’s a total of 210 million Bitcoin Diamonds
which is a much healthier supply,
but not overinflated like standard fiat is
with over 100 trillion bills printed worldwide.
For every Bitcoin there’s ten Bitcoin Diamonds
which creates a higher threshold for new investors and exchanging.
Three more concerns Bitcoin Diamonds developers addressed work:
Slow transaction speeds by following the SegWit.
A lack of privacy protection
by allowing encryption of transactions and balances.
And lower transaction fees.
Block information is divided into trading and witness information.
The original Bitcoin had to record
trading and witnessing in the same block.
Which means it cannot bear an increase in trading.
Because Bitcoin Dimond is using SegWit
each block only records trading information.
Which means each block can record more trading.
Bitcoin Diamond will also increase the unit block
to bear increases in trading,
optimizing the storage on the Bitcoin Diamond network.
There’s a few ways to get Bitcoin Diamond:
Over 30 exchanges with more coming everyday.
Wallets that support Bitcoin and Bitcoin Diamond side-by-side
will be listed on the Bitcoin Diamond homepage.
If you are holding bitcoins when the fork occurred,
mining them with a full node client or with a community pool.
The developers will also award community members
who contribute to the growth and promotion of Bitcoin Diamond.
While Bitcoin Diamond does have its advantages
over the original Bitcoin,
this fork was not created to compete,
but to improve Bitcoin and the investor and user experiences.
Bitcoin Diamond aims to improve
the transaction confirmation speed
for the entire BTC blockchain,
to lower costs by reducing the transaction fees
and to make Bitcoin more accessible
by increasing the total supply by tenfold.
Bitcoin Diamond – building a better future!