Is Bitcoin Diamond Part of Bitcoin? Bitcoin Diamond BCD is not a completely different coin for starters, and it is not a competitor to Bitcoin. Instead, Bitcoin Diamond is a fork of the Bitcoin blockchain, with some upgrades in its blockchain technology to support faster transaction speeds and more storage size. So, yes, Bitcoin Diamond is a part of Bitcoin.
BCD minimizes the production of isolated blocks and aims to preserve the original features of the BTC. There is a fundamental problem in computer science: we can never have a system that offers security, speed, or decentralization. There is always a sacrifice. The BTC was not able to be efficient in terms of speed when its demand increased. BCD solves the problem in mainly two folds. First, it aims to increase the speed of transaction confirmations.
Second, it is to have a high threshold for new members. It uses more giant blocks and a faster consensus mechanism. Bitcoin Diamond is able to solve the problem of Bitcoin by sacrificing security to improve transaction speed. It does not by any means mean that the security offered by Bitcoin Diamond is bad.
The coin is easier to mine, and the hardware required is much cheaper than mining for Bitcoin. Bitcoin Diamond BCD token was engineered to eliminate the drawbacks of the original Bitcoin protocol. It aims to be faster and more scalable. This means that it can process up to 8 times more information even when the block time on both protocols is the same.
The total supply also increases because of Bitcoin Diamond. It offers million coins which are huge when compared with the Bitcoin supply of just 21 million coins. Trade Bitcoin Diamond Now Some years ago, there was news that some warehouses were only mining Bitcoin using ASIC miner equipment in countries with low electricity tariffs.
Bitcoin mining is costly since it uses a lot of processing power. Normal users could not afford to use such equipment because they consume lots of electricity and it gets loud and hot. Bitcoin mining should be easy for users, so the developers made sure that the BCD mining is not that expensive. This ended up creating a new mining algorithm that allows everyday users to start mining BCD for rewards without the drawbacks of power-hungry BTC algorithms.
In the long run, the bear markets might turn bullish. Wallet Investor. Price Prediction. Digital Coin Price. GOV Capital. The expected price change is Trading Beasts. This type of Bitcoin Diamond price action on high volume was also observed in the second week of February Then in April, in a few days, the BCD price shot up more than doubling its price.
But this was not a breakout that sustained itself, and for the rest of April, the price maintained its downward journey. It was crazy to imagine this price jump. But just as fast as the price rose to the skies, the Bitcoin Diamond price fell and came crashing down in the next few days, wiping off all the returns and finally touching the 50 days simple moving average. The RSI indicator could have been reliable to short the market, but the exit strategy always matters when talking about making the most returns from any investment vehicle.
Based on some most popular technical indicators, the current price of Bitcoin Diamond has not generated any overbought or oversold alerts. So, it might be a good idea to stay out of the market and continue monitoring the Bitcoin Diamond price to see any future growth opportunities. The price forecast of the BCD is based on historical data combined with predictive data modeling algorithms.
Please note that these predictions should only be interpreted as a suggestion rather than investment advice. It is impossible to predict the price of anything perfectly, and blindly following any forecast leads to the risk of losing all your invested money. Here is our data based on the past price calculation and analysis. The Bitcoin Diamond forecast is conservative as compared to the other crypto. This Bitcoin Diamond forecast is conservative for the short term.
This conservative Bitcoin Diamond forecast suggests that there will also be some Bitcoin Diamond price drop due to volatility. Rank: On 44 watchlists Coin. Bitcoin Diamond is a Fork of Bitcoin. The main difference is the increasing of block size to 8Mb and the supply by factor Socials web explorer twitter telegram slack github.
Overview Markets News Arbitrage Widgets. Supply Circulating:. BCD ,, Bitcoin Diamond Live Chart. 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.
Trading Volume24h. Volume / Market Cap. Market Dominance.