The Birth Of New Bitcoin Fork-Bitcoin Diamond (BCD) Launched with Extensive Research and Development. - Reuters

 

The Birth Of New Bitcoin Fork-Bitcoin Diamond (BCD) Launched with Extensive Research and Development.

The Birth Of New Bitcoin Fork-Bitcoin Diamond (BCD) Launched with Extensive Research and Development.

Fri Nov 10, 2017 - 11:30am UTC

After nine years of rapid development of Bitcoin, Bitcoin Diamond, a new cryptocurrency, was recently launched and the innovators dubbed it as the fruit of their long-term research and development.

Singapore, Singapore – November 10, 2017

Bitcoin Diamond, a new cryptocurrency was recently launched by Team EVEY& Team 007, two teams of bitcoin miners who were not happy with some of the major downsides of Bitcoin. After nine years of rapid development and various issues that the miners faced with Bitcoin, such as lack of privacy protection, high transaction fees and slow transaction speed, the teams finally collaborated and rolled out Bitcoin Diamond.

Bitcoin Diamond or BCD will solve the known downsides of Bitcoin, according to Bitcoin Diamond Foundation, the collaborative venture.

“Bitcoin Diamond is a fork of Bitcoin that occurs at the predetermined height of block 495866”, said an EVEY team member while also launching the official website http://www.btcd.io/index.html.

“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. The original Bitcoin blockchain will continue on unaltered, and 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””, he commented.

According to the team member, Bitcoin Diamond has various benefits, such as better privacy protection, encryption of the amount and balance which protects customers’ privacy and faster transaction confirmations.

“Bitcoin Diamond has raised the block size as part of a massive on-chain scaling approach. There is ample capacity for everyone’s transactions. The speed of generating blocks will be increased five times and the ultimate goal is to improve transaction confirmation speed for the entire BTC blockchain”, said another team member.

He also added that Bitcoin Diamond will lower the cost for participation thresholds. According to him, it will reduce the transaction fees and the cost of participations. “The total amount of Bitcoin Diamond is ten times as much of Bitcoin which will reduce the cost of the new participations and lower the thresholds”, he told the press.

About the Company

Bitcoin Diamond (BCD) is a fork of Bitcoin based on Bitcoin protocol and a new cryptocurrency.

To know more, visit http://www.btcd.io/index.html

Contact Info:
Name: Media Relations
Organization: Bitcoin Diamond (BCD)

This content is produced independently of Reuters Editorial News. For content inquiry, please contact reuters@vcnewsnetwork.com

For content enquiry, please reach us at

Latest News >

Ballarpur Industries sells Malaysian arm Sabah Forest for US$310 million

After nine years of rapid development of Bitcoin, Bitcoin Diamond, a new cryptocurrency, was recently launched and the innovators dubbed it as the fruit of their long-term research and development. Singapore, Singapore – November 10, 2017 — Bitcoin Diamond, a new cryptocurrency was recently launched by Team EVEY& Team 007, two teams of bitcoin miners […]

04:56am UTC

Catcha Group to lead seed investment in Wedding Marketplace Hitchbird

Hitchbird will use the capital for hiring talent, product development, and marketing.

10:45am UTC

Vertex Ventures to co-lead US$11 million round in Israeli transcription startup Verbit

Verbit uses AI to combine software with human transcribers to improve quality, speed and price of services.

06:29am UTC

Indonesia’s Electronic Signature Startup PrivyID secures US$5 million in Series A

PrivyID is Indonesia’s DocuSign and it enables users and enterprises to digitally sign and transfer document online with an integrated audit trailer.

05:03am UTC

Online Content Marketplace GetCRAFT in talks to raise US$5 million Series A by 2018

GetCRAFT is an online content marketplace, which connects brands and agencies in Southeast Asia with content creators and marketers across the globe.

05:05am UTC