Bitcoin Diamond (BCD) Review, Price, Market Cap and more | Coinopsy

Bitcoin Diamond (BCD) Review, Price, Market Cap and more | Coinopsy

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Bitcoin Diamond (BCD) - Elite Bitcoin

Bitcoin Diamond is fork of Bitcoin that seeks to add more transaction capacity to the network. There are ten times more BCD than Bitcoin.
Name (Ticker)
Bitcoin Diamond (BCD)
Price (USD)
$0.778694679523
Rank
75
Active Supply
186.5 million
Total Supply
189.5 million
Max Supply
210.0 million
Volume(24H)
10.4 million
Market cap
145.2 million
Fun Name
Elite Bitcoin
Categories
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Bitcoin Diamond (BCD) Chart

Bitcoin Diamond (BCD) Review

Bitcoin Diamond (BCD) is a fork of Bitcoin; at predetermined block height 495866, the new chain was created. As the original Bitcoin (BTC) blockchain continues on unaltered, this new cryptocurrency now operates on its own chain called "Bitcoin Diamond". With Bitcoin Diamond, miners will begin creating blocks using a new proof-of-work algorithm which better serves Satoshi's original goal of keeping Bitcoin decentralized. Bitcoin Diamond offers several technical advancements in scalability along with anti-replay protection and wallet enhancements. With these changes to the Bitcoin protocol, Bitcoin Diamond seeks to achieve Satoshi Nakamoto's vision for a peer-to-peer electronic cash system that's accessible and usable to everyone, regardless of economic status or country of origin.

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Bitcoin Diamond (BCD) Lightning Network

While Bitcoin Diamond protocol provides faster transactions, additional scaling solutions are still required for the protocol to compete with traditional payment methods. To accomplish this, the BCD development team is working to implement Lightning Network, a "second layer" payment protocol first proposed by Joseph Poon and Thaddeus Dryja in 2016. This solution allows users to open "payment channels" by committing an amount of Bitcoin that can then be sent to other participants on the channel without being confirmed on the main chain. Using Lightning Network, Bitcoin Diamond can enable users to make instant transactions at a nearly limitless pace for a very low cost. 

Bitcoin Diamond (BCD) Transaction Costs

Bitcoin Diamond reduces the transaction fees and the cost of participation: The total amount of BCD is 10 times that of BTC so that it reduces the cost of participation. BCD improves the situation of overpriced Bitcoin, increasing the total supply of BCD and lowering the price. This supply change increases circulation and helps emphasizes the use of BCD for small businesses and microtransactions. With relatively low transaction fees, a secure and private blockchain, and affordable coin prices, Bitcoin Diamond is well suited for making everyday transactions. 

Bitcoin Diamond (BCD) Transaction Confirmations

Bitcoin Diamond raised the block size limit to 8MB as part of a massive on-chain scaling approach. There is now ample capacity for everyone's transactions to be processed. The transaction capacity of blocks will be increased five-fold and the ultimate goal is to improve transaction confirmation speed for the entire blockchain. With lightning fast transactions, highly diluted transaction fees, and ten times as much supply as other leading Bitcoin forks, Bitcoin Diamond's blockchain prioritizes trust, accessibility, and affordability.

While there are concerns that large blocks may rapidly increase the blockchain's total size. the present number of transactions included in each block is still far from hitting the upper limit of the block size. In case of a future volume increase, additional mechanisms such as sharding are already being considered to reduce the problem of storing a colossal blockchain size. 

Bitcoin Diamond (BCD) Technical Overview

Bitcoin Diamond was forked off the Bitcoin (BTC) blockchain on November 24, 2017 at block height 495866 after Team EVEY and Team 007 partnered to develop the necessary upgrades to improve upon Bitcoin's original framework. Bitcoin Diamond developers have incorporated a new proof-of-work algorithm and will continue to enhance original Bitcoin features with greater speed, protection, and scalability. Bitcoin Diamond raised the block size limit from 2-4 MB to 8-32 MB as part of a massive on-chain scaling approach to create ample capacity for higher transaction storage. The transaction capacity of blocks will be increased five-fold and the ultimate goal is to improve transaction confirmation speed for the entire blockchain. With the addition of SegWit. transactions can now scale at a far greater pace than any Bitcoin chain before it. Bitcoin Diamond also offers replay protection as the format for transactions has been changed since the BCD fork. This means that BTC transactions cannot be replayed in the BCD network as a way to steal user funds. 

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Bitcoin Diamond (BCD) Facebook News

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Buying BCD Guide

Binance

Credit card and bank transfer options are fairly limited. We'd suggest you buy some BTC through Coinbase and then exchange it for BCD on either HITBC or Binance

Binance

Binanace is the leading crypto to crypto exchange around with over 100 coins supported for deposit and withdrawal.

The exchange accepts users from around the world and has received favorable reviews from the crypto community. Recently the exchange has also partnered with Simplex to allow credit card purchases of cryptocurrencies at a premium.

 A flat rate of 0.1% is very lucrative fee for any trader who doesn’t need immediate fiat liquidation. Incredibly, it undercuts most other large exchanges, some of which charge upward of 0.2%. That’s a pretty sizeable difference if you’re working with large orders.

HitBTC

HitBTC was founded in 2013 by a team of finance experts and engineers and since then, HitBTC has been providing markets for Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, USDT, and more than 300 cryptocurrencies in total.

Created by outstanding technical minds, high-level finance professionals and experienced traders, HitBTC is delivering a fast and powerful platform solution on the market.

The platform has earned its reputation for fault-tolerance, flawless uptime, and high availability. Its core matching engine is among the best technological products in its class, offering traders a wide range of features such as real-time clearing and cutting-edge order matching algorithms.

Desktop Wallets Guide

BCD Pay Wallet

BCD Pay is Bitcoin Diamond's officia wallet. It has a ton of features available, and we'll cover them in this guide. 

To ensure that all users can easily perform payments, Bitcoin Diamond will be the first Bitcoin project to support an official mobile wallet. An Android wallet based on Electrum has already been released with an iOS version currently under development. Current wallet features include wallet name modification, account switching, and QR scanning. With BCD Pay, digital currency will be made accessible to millions of unbanked individuals in emerging markets, bypassing the financial barriers that had previously excluded them from the global economy. 

To capitalize on Electrum's feature-set, Bitcoin Diamond has released its own version of the Electrum wallet. After downloading the wallet users can quickly connect to the BCD network and claim any coins that they may have earned from the November fork. 

BCD Pay is also a Hierarchical deterministic wallet. These wallets, otherwise known as HD wallets, is a feature implemented on BCD to create multiple accounts from a single root key. With this rule, clients only need to save a master private key, which can generate multiple sub-private keys and sub-addresses. 

Atomic Wallet

Another option is Atomic Wallet.

Atomic Wallet is a desktop wallet built with security, anonymity and decentralization in mind. Atomic Wallet was designed to leverage the potential of atomic swaps and become part of a fully-fledged decentralized cryptocurrency ecosystem.  The “physical” wallet itself is a PC application that can be downloaded onto your computer. Your private keys and other data will then be stored on your PC in an encrypted form. This means you hold your own keys, which are encrypted and kept only on your own device, control your own funds and can efficiently swap tokens without needing to go through a centralized exchange.

This application then interacts with the blockchains of supported coins. For example, if you check your transaction history in the program, it looks it up on the blockchain and then shows it to you, rather than storing this potentially sensitive information somewhere.

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