Bitcoin Diamond PriceBCD

What is Bitcoin Diamond (BCD)?

Bitcoin Diamond (BCD) is a proof-of-work cryptocurrency created as a hard fork of the Bitcoin blockchain. The fork occurred at the predetermined block height of 495866, generating a new chain with its own native asset, BCD. The project was designed to address some of Bitcoin's inherent limitations, including high transaction fees and slow confirmation times, while preserving the core features that made Bitcoin successful. Bitcoin Diamond implements an increased block size of 8 MB, up from Bitcoin's 1 MB, and combines Segregated Witness (SegWit) with the Lightning Network to support faster processing speeds. According to its whitepaper, the network can perform 4.8 million transactions per day, or approximately 100 transactions per second. BCD has a maximum supply of 210,000,000 coins, with a circulating supply of approximately 186.49 million BCD representing 98% of the total supply. The project has been publicly available since 2017 and remains an active proof-of-work chain with a dedicated mining community.

Key Specifications & Tokenomics

• Name: Bitcoin Diamond
• Ticker / Symbol: BCD
• Consensus Mechanism: Proof-of-Work (PoW)
• Category: Cryptocurrency; proof-of-work cryptocurrency; hard fork of the Bitcoin blockchain
• Blockchain: Bitcoin Diamond chain (hard fork of Bitcoin); a separate BCD token also exists on Ethereum
• Launch Date: 2017-11-24
• Fork Block Height: 495866
• Block Size: 8 MB
• Block Time: 10 minutes
• Transaction Throughput: 100 transactions per second; 4.8 million transactions per day
• Max Supply: 210,000,000 BCD
• Total Supply: 189,492,897.953 BCD
• Circulating Supply: 186,492,897.953 BCD
• Circulating Supply as Percentage of Total: 98%
• Annual Inflation Rate: Approximately 2%
• Ethereum Contract Address (BCD Token): 0x31126416f0dbc1283dc5295ee6ea04ff83ee3531
• Official Website: https://www.bitcoindiamond.org/
• Whitepaper: https://www.bitcoindiamond.org/wp-content/uploads/2018/08/Bitcoin-Diamond-Whitepaper-1.pdf

Who created Bitcoin Diamond?

Detailed public information about the founding team behind Bitcoin Diamond is currently limited. According to available community and wiki sources, the miners behind the fork were originally from Asia, particularly Singapore and Hong Kong. A Reddit post from the project's early days describes a great team of miners supporting the fork, though formal team identities have not been widely disclosed. The project appears to be community and miner-driven rather than led by a publicly identifiable founder or centralized development company. No governance mechanism details are provided in available materials. Prospective investors should note that the absence of a publicly identified team is a factor to consider when evaluating the project.

How does Bitcoin Diamond work?

Bitcoin Diamond operates as a proof-of-work blockchain that forked from Bitcoin at block height 495866. Miners on the network utilize a new proof-of-work algorithm to create new blocks, which helps prevent the centralization of mining power. The chain maintains Bitcoin's 10-minute block time but increases the block size to 8 MB, allowing it to process eight times the transactions compared to Bitcoin. The network integrates Segregated Witness (SegWit) to separate transaction signatures from transaction data, increasing effective capacity. Combined with the Lightning Network, which facilitates faster off-chain processing, Bitcoin Diamond supports more than 100 transactions per second. The project aims to deliver improvements in decentralization, scalability, costs, transaction speed, and privacy relative to the original Bitcoin. A separate BCD token also exists on the Ethereum blockchain as an ERC-20 asset with its own contract address, supply, and holder base.

What makes Bitcoin Diamond unique and valuable?

Bitcoin Diamond's primary value proposition lies in its attempt to improve upon Bitcoin's known limitations while retaining its core architecture. The 8 MB block size represents a significant scaling increase, and the combination of SegWit and Lightning Network technology positions BCD as a faster and more capacity-rich alternative for peer-to-peer transactions. The project's new proof-of-work algorithm is designed to resist mining centralization, a concern that has affected many proof-of-work networks. BCD also promises enhancements in privacy and cost efficiency compared to Bitcoin. The project has been available since 2017 and maintains an active mining community. However, potential investors should be aware that BCD has experienced substantial price declines over multiple timeframes, and community interest has fluctuated. The project's long-term value depends on continued development, mining participation, and adoption of its scaling solutions.

What is Bitcoin Diamond used for?

BCD serves as the native cryptocurrency of the Bitcoin Diamond blockchain. It is used to transfer value peer-to-peer on the network, reward miners for securing the chain through proof-of-work, and pay transaction fees. The project's focus on faster processing and higher throughput makes BCD suitable for everyday transactions where speed and cost are priorities. BCD can be bought, sold, and converted on various platforms, with conversion pairs available against multiple fiat currencies including USD, EUR, GBP, AUD, CAD, and others. The token is also supported by wallets such as Atomic Wallet and CoinSpot's Bitcoin Diamond wallet, allowing users to store, send, and receive BCD. Additionally, BCD has been integrated into promotional and staking mechanisms, such as the BC Engine launched by BC.GAME, which pays hourly rewards in BCD. A separate BCD token on Ethereum expands the asset's reach into the ERC-20 ecosystem.

How Is the Bitcoin Diamond ecosystem developing?

The Bitcoin Diamond ecosystem includes the core proof-of-work blockchain, mining infrastructure, wallets, and conversion services. BCD may be available for swapping via Onchain, the official decentralized product of a major platform. Wallet support is provided by Atomic Wallet, which allows credit card purchases of BCD, and by CoinSpot, which offers a dedicated Bitcoin Diamond wallet. Paybis supports instant conversion of BCD to USD and provides a crypto wallet for storing, sending, and receiving assets. The project has also seen integration into gaming and staking applications, such as BC.GAME's BC Engine, which auto-stakes and pays rewards in BCD on an hourly basis. The Ethereum-based BCD token has its own holder base and transaction activity. While the ecosystem is not as extensive as some larger proof-of-work chains, it maintains active markets and community interest, with BCD trading on approximately 30 active markets.

How to mine Bitcoin Diamond?

Bitcoin Diamond uses a proof-of-work consensus mechanism, allowing users to generate BCD through mining. Miners on the network utilize a new proof-of-work algorithm specifically designed to prevent the centralization of mining power, meaning the algorithm aims to be more accessible to a broader range of participants rather than concentrating rewards among a few large pools. Mining BCD requires computational hardware capable of solving the network's cryptographic puzzles. Miners who successfully validate blocks and add them to the chain receive BCD rewards. The network maintains a 10-minute block time, consistent with Bitcoin, but processes eight times the transactions per block. The annual inflation rate is approximately 2%, and the supply of BCD is limited to 210 million coins, with about 90% currently available. Prospective miners should research the specific hardware requirements and mining pools compatible with Bitcoin Diamond's algorithm before participating.

How to keep your Bitcoin Diamond Coin safe?

Securing BCD requires the same care as any cryptocurrency. Users should store their coins in reputable wallets that support Bitcoin Diamond, such as Atomic Wallet, CoinSpot's dedicated BCD wallet, or the wallet provided by Paybis. Hardware wallets offer the highest level of security for long-term storage by keeping private keys offline. When using software or online wallets, always enable two-factor authentication and use strong, unique passwords. Never share private keys or seed phrases with anyone. For large holdings, consider splitting funds across multiple wallets to reduce risk. Before sending BCD, verify the recipient address carefully, as blockchain transactions are irreversible. Be cautious of phishing attempts and unofficial websites claiming to offer BCD services. If purchasing BCD through a platform, use trusted services with established reputations. Regularly update wallet software and keep backups of recovery phrases in secure, offline locations. These practices help protect your Bitcoin Diamond holdings from theft, loss, and unauthorized access.