Buy Bitcoin Diamond (BCD)
What is Bitcoin Diamond?
Bitcoin Diamond (BCD) is a hard fork of Bitcoin, created at block height 495866. It aims to improve transaction speed and capacity by implementing a new proof-of-work algorithm and segregating transaction signatures from transactions on the chain. The primary purpose of Bitcoin Diamond is to be an improved version of Bitcoin, emphasising lower transaction fees and enhanced privacy.
How does Bitcoin Diamond work?
Bitcoin Diamond operates on a blockchain structure similar to Bitcoin but with larger blocks of 8MB, allowing more transactions per block. It uses a Proof of Work (PoW) consensus mechanism, featuring the X13 hashing algorithm, which encourages GPU mining over ASIC mining to promote decentralisation. Unlike Bitcoin, Bitcoin Diamond does not support smart contracts, focusing instead on enhancing transaction efficiency.
What are the potential use cases for Bitcoin Diamond?
Bitcoin Diamond offers several potential use cases:
- Medium of Exchange: Its faster transaction process and lower fees make it suitable for small and high-volume transactions, particularly in e-commerce settings.
- Privacy: Through advanced encryption and stealth addresses, it provides enhanced privacy and security for financial transactions.
- Accessibility: The X13 algorithm allows inclusive mining with less powerful computers, broadening participation.
- Small Businesses: Its quick and cost-efficient transaction process is ideal for microtransactions and small business operations.
What is the history of Bitcoin Diamond?
Bitcoin Diamond was launched on November 24, 2017, by two anonymous teams known as "Team Evey" and "Team 007." It was created to address Bitcoin's scalability and cost issues, offering a distribution ratio of 10 BCD for every Bitcoin held by users. Key developments include adopting the X13 algorithm and implementing Segregated Witness (SegWit) and planned support for the Lightning Network to improve transaction efficiency. Over time, Bitcoin Diamond has expanded its market presence, being listed on several major exchanges and forming various partnerships.
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Frequently Asked Questions (FAQs)
What is the current price of Bitcoin Diamond (BCD)?
The Bitcoin Diamond price is $0 AUD, representing a 0% from the day prior.
Where is the best place to buy Bitcoin Diamond (BCD) in Australia?
The best place to buy Bitcoin Diamond (BCD) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Bitcoin Diamond (BCD) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Bitcoin Diamond (BCD)?
The trading volume of Bitcoin Diamond (BCD) is $0 AUD in the last 24hrs, representing a 0% from the day prior.
How can I buy Bitcoin Diamond (BCD)?
Bitcoin Diamond (BCD) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Bitcoin Diamond (BCD)?
The current market cap of Bitcoin Diamond (BCD) is $0 AUD.
Can I convert Bitcoin Diamond (BCD) to cash?
Yes - With Coinstash you can convert your Bitcoin Diamond (BCD) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Bitcoin Diamond (BCD) are there?
The current circulating supply of Bitcoin Diamond (BCD) is 0.
Is Coinstash a safe place to buy Bitcoin Diamond (BCD) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Bitcoin Diamond (BCD) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.