Bitcoin Diamond (BCD) is a fork of Bitcoin that is predetermined having height of block #495866 and the new chain of BTC will be generated and named as BCD – Bitcoin Diamond. Miners of Bitcoin Diamond will begin creating blocks with a new proof-of-work algorithm, will consecutively develop and enhance the protection for account transfer and privacy wich is based on the original features of BTC. A Bifurcation of the Bitcoin blockchain will be caused. The original Bitcoin blockchain will continue unaltered, but blockchain will split off from the original chain as a new branch.
It shares the same transaction history with Bitcoin, until it starts branching and coming into a unique block from which it diverges. A new cryptocurrency will be created which will be called ‘Bitcoin Diamond’, so this a result of the mentioned process.
Total amount for the Bitcoin Diamond itself is 210 million, without any increase. 170 millions will be generated as BCD, Bitcoin holders for the long-term support will be presented 1BTC in ratio of 10BCD (1BTC : 10BCD) for Bitcoin ECOSYSTEM.
BCD attempts to solve:
1. Lack of privacy protection.
2. Slow transaction confirmations followed by high threshold for the new members.