Bitcoin Diamond (BCD) is a cryptocurrency which was created as a fork from Bitcoin (BTC) which is the most dominant coin in the latest cryptocurrencies news. Unlike many altcoins which have been posting double-digit gains this year, Bitcoin Diamond tripled and went from $0.30 (January 1st) to $1 which is the price at which the coin is trading today.
Right now, there is a bullish momentum surrounding the coin and BCD is viral in many charts. For those of you who don’t know what this coin represents, we are sharing it all below.
It all started in November 2017 when two Bitcoin miners named “Team Evey” and “Team 007” were dissatisfied with the operation of the Bitcoin Core protocol. Even though BTC was the first cryptocurrency which gained mainstream recognition, the two miners wanted to make something new.
The hard fork saw the creation of Bitcoin Diamond – a cryptocurrency which wanted to improve the transaction times on the Bitcoin platform. They saw the requirement of having the 1MB block size as a leftover from the early days of Bitcoin history – and hoped to prevent having the blocks becoming congested with the amount of pending transactions, just like its mempool.
To achieve all of this, Bitcoin Diamond (BCD) offered support for larger block sizes (even eight times larger). The transaction capacity of the blocks was also supposed to be provided with a five-fold boost. Bitcoin Diamond also went for increasing the unit block to allow for more storage trading with the goal of optimizing storage on its network and keeping the generation of isolated blocks at a minimum.
Despite the popularity of BTC and the Bitcoin news now (considering the fact that BTC is trading above $10,000), Bitcoin Diamond (BCD) is also in a good momentum and has demonstrated to work well as a system and as an altcoin, too.
The latest altcoin news show that BCD is trading at $1 which is more than 300% in gains compared to its January 1st price at $0.30. The main mission for the team now is to make BCD a more accessible coin and offer more inclusive mining with its platform.
In addition to the six verified wallets supported by Bitcoin Diamond (BCD), any secure Bitcoin wallet can be used to store BCD before reaching the predetermined height as of block 495866.
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