Price for today
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Name: BCD
Symbol: BCD
Circulating supply: 0 $
Max supply: 0 $
Price: 0 $
Volume 24h: 0 $
Market Cap: 0 $
Percent change 24h: 0 %
Bitcoin Diamond is the Bitcoin fork which occurred in late 2017. The platform claims to have a bigger supply and larger block size which helps to enhance the transaction speed, accelerate transaction confirmation times and decrease entry threshold for new users. While keeping the original Bitcoin characteristics, this open-source project offers advanced technology and innovative solutions to the problems of scalability and usability. The blockchain-based Lightning Network is designed to carry out instant transactions between senders and receivers. With the help of smart contracts, the Network also improves well-established transaction channels and places most of them outside the blockchain.
This page will introduce you to the BCD crypto. Bitcoin Diamond has been branched out from the original Bitcoin cryptocurrency blockchain. It was created to provide faster transactions by increasing the block size, as well as a more secure and democratic mining protocol.
It is a hard fork of the original Bitcoin protocol. In 2017, two teams of Bitcoin miners — Teams Evey and 007 — joined forces to fork the code. They felt that the original BTC protocol veered away from the promise of providing fast and accessible transactions.
For this reason, they decided to bifurcate from the original blockchain and increase the block size of the Bitcoin network. On the 24th of November of that year, the Bitcoin Diamond network was created, by forking at the 495866th block. It modified the consensus algorithm in order to address the original’s crypto shortcomings by increasing the block size to 8MB (from 1MB).
This allowed each block to hold more transactions (and faster block generation), making the network more suitable for daily payments. And like with other hard forks, Bitcoin holders were airdropped the same amount of BCD crypto in their wallets.
Unlike many of the coins released in 2017 that managed to become very successful in that period, this was not the case for Bitcoin Diamond. Shortly after the fork, the Bitcoin Diamond price sharply declined, losing almost all of its value.
Over the course of the ensuing bear market, the Bitcoin Diamond price never managed to recover. That said, in the short term, its value is seen as highly volatile. The Bitcoin Diamond to USD price can fluctuate considerably in short time frames, making this coin very interesting for day traders. The BCD price chart candles show +-10% price spikes in just a couple of hours, which is ideal if you want to make some quick profits.
That said, even though the Bitcoin Diamond price seemed to stagnate for the good part of its history, the latest bullish market has woken up investors. At the peak of the market, BCD investors were registering fourfold gains. Consequently, Bitcoin Diamond can be considered as one of the highest-performing cryptocurrencies in the last cycle.
Bitcoin Diamond‘s block creation is 10 minutes. With every newly created block, miners are rewarded with 62.5 BCD. Additionally, Bitcoin Diamond also kept the halving mechanism of the original Bitcoin blockchain.
This means that for every 210,000 blocks mined, the reward is cut by half. Consequently, the next halving that will occur in 2024 will result in miners receiving 31.25 BCD per block. Currently, there are 186.5 million BCD in circulation. The maximum supply of BCD is fixed at 210 million, which is 10x that of Bitcoin.
Worth noting is that this deflationary reward mechanism should be beneficial to the Bitcoin Diamond price USD. As less and less BCD are introduced to the markets over time, the coin becomes more scarce, therefore more valuable.
If you want to take advantage of the volatility of Bitcoin Diamond price, you will need to find a reliable exchange to convert BCD. It’s essential that the BCD exchange platform you choose provides you with fast transactions, low fees, and high security.
As a fork of Bitcoin, BCD is represented on most popular cryptocurrency exchanges. Consequently, you won’t have any trouble trading it for other cryptocurrencies and vice versa. The thing is that these exchanges only provide a few different trading pairs and require extensive KYC to exchange BCD.
On Godex, you can use the BCD converter to exchange BCD for more than 300 coins and tokens. Moreover, we won’t ask you to register an account before you can use our services.
Additional advantages of using Godex for conducting a BCD exchange include:
The Bitcoin Diamond blockchain split off Bitcoin, and its main goal is to become a P2P payment network. As such, it inherits most of its characteristics from the original cryptocurrency, including:
BCD was created with the goal to improve upon the original Bitcoin payment network by providing cheaper and faster transactions. It achieves this by increasing the block size and removing Bitcoin’s complex SHA-256 mining algorithm. Instead, it uses the X13, an algorithm that was created to resist ASICs and provide miners with a more democratic approach to mining rewards.
To conclude, the transactions on the BCD network are organized in blocks and chained together on the blockchain using cryptography.
The circulating supply of a coin is the total number of coins that are available to the public. The maximum supply is the number of coins that will ever be mined.
Bitcoin Diamond follows a 10-minute mining block schedule with 62.5 BCD being released with each new block. Currently, there are 186,5 million BCD coins in circulation out of a maximum of 210 million. The last BCD coin is expected to be mined somewhere in 2140.
Before you get started with your Bitcoin Diamond exchange, there are some prerequisites:
The process of BCD exchange is extremely simple on Godex. Here’s how to do it:
We won’t ask you to register on the website. This is because Godex wants you to have the best possible crypto exchange experience. With Godex, you will save time and maintain your privacy at all times.
