Bitcoin Bitcoin Diamond Fork. All you need to know about Bitcoin Diamond. Published 7 months ago on July 14, 2018 By Coinnounce - Coin Announcements Share Tweet Comprehending the Bitcoin Diamond fork. Bitcoin Bitcoin was the very first cryptocurrency. It is well known and understood, at least until this point of time, that it is doesn’t provide enough scalability to become a global cryptocurrency, hence the fact must be agreed upon that better version of Bitcoin or other cryptocurrencies offering other better implementations must be adopted. As Bitcoin is the Pioneer in the field many of them want to modify the protocol of the original Bitcoin version and make it available. Make it ready for the future transactions of the cryptocurrencies. Bitcoin went through many forks in the past like bitcoin cash, bitcoin diamond, bitcoin gold etc. Fork This process of changing the protocol is known as forking. Forking has two types, hard fork, and soft fork. A hard fork is the nothing but the change of protocol code and initiation of a new blockchain from where the fork is initiated. It is to be understood that during a hard fork, backward compatibility is not possible which means, the uses of the older Blockchain would not be able to use the features of the newer one. The hard forks are usually implemented to improve some of the characteristics of the cryptocurrency whichever it is lagging behind. In the case of Bitcoin Bitcoin cash, Bitcoin gold, and Bitcoin Diamond are some of the hard forks which were undertaken within the past few years. Bitcoin diamond fork The Bitcoin Diamond hard fork took place in the November 2017. It was done in order to improve the functionalities of Bitcoin, on block number 495866. It was a friendly fork because it was not made to compete with its original parent chain. Even this particular hard fork was initiated in order to solve the scalability, lack of privacy as well as slower confirmation of the transactions. In order to improvise the blockchain. The details of the fork According to the marketing strategy of the fork, users with one bitcoin would get 10 Bitcoin diamonds on joining the new upgrade. The fork was effective enough and increased the block size from 1 MB to 8 MB and in turn, a number of transactions were able to get verified. Increased privacy It even provided for an increased privacy through encryption. This Bitcoin fork is the only fork, which concentrates upon privacy which until now no other forks have been known for. The protocol effectively encrypts the transactional information such as the amount and the addresses, as this data was easily accessible by the unethical masses on the Bitcoin Blockchain. Fixed market cap The market cap was fixed and was 210 million coins i.e 10 times the market cap of Bitcoin. Around 170 million coins were held by the community personals and the rest 40 million was released for the mining purposes in the form of rewards. Mainnet The mainnet was launched in December 2017 along with node codes, API release, and open source release on GitHub. The cryptocurrency supports AMD as well as Nvidia GPU Mining capabilities. Similar to the anonymity maintained by Satoshi Nakamoto, the developers of Bitcoin diamond too is unknown to date. People know them only through their pseudonym EVEY and 007. Adoption and popularity Bitcoin Diamond was quite popular in its initial days and was listed on 33 cryptocurrency exchanges and 6 wallet providers also supported it. Linke Yang, co-founder of BTCC is also deemed to be supporting this fork and has helped the currency gain momentum in China, as BTCC was China’s first cryptocurrency exchange. Conclusion In case of Ethereum, when the network experienced a DAO attack, the community members decided to initiate a hard fork which was named as Ethereum and the original blockchain continued as Ethereum Classic. There is an ambiguity about the mainstream adoption of the Bitcoin diamond when compared to that of Bitcoin itself as the cryptocurrency coin provides enough scalability with its segwit nature but it’s also downsides also persist, where the developers of the community along with the roadmap doesn’t seem to be quite trustable. In this fluctuating cryptocurrency in the market, it only happens once in a blue moon, that the happenings of a cryptocurrency go in line with our predictions as the cryptocurrency market is dependent upon the assumptions and beliefs of the investors itself. Related Topics:BCDBCD CRYPTOCURRENCYBCD FORKBCD PRICEBCD TO USDBCDUSDBitcoinBitcoin DiamondBITCOIN DIAMOND 2018BITCOIN DIAMOND CRYPTOBITCOIN DIAMOND EXPLAINEDBITCOIN DIAMOND FORKBITCOIN DIAMOND FUTUREBITCOIN DIAMOND HARD FORKBITCOIN DIAMOND OPINIONBITCOIN DIAMOND PREDICTIONBITCOIN DIAMOND PRICEBITCOIN DIAMONDSBitcoin ForkbtcBTC FORKBTCCEthereumhard fork Up Next Bitcoin Price Weekly Analysis, 15th July. BTC/USD Facing Hurdles Don't Miss The Process for holding an Initial Coin Offering explained. Continue Reading You may like Bitconnect Scam: How to receive $2.5 Billion Refund from FBI? Bakkt: How will it affect Bitcoin Price? BTC to the moon? Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes Guide: How to get started with Ethereum? Ethereum Price Analysis: ETH to $160 or $130 today? Be ready to login into Facebook using Blockchain Technology. 2 Comments 2 Comments Pingback: Bitcoin Diamond Fork. All you need to know about Bitcoin Diamond. – Btc News Magazine Pingback: Bitcoin Diamond Fork. All you need to know about Bitcoin Diamond. – The Coinage Times Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Exchange German’s Giant Derivatives Exchange to launch BTC, ETH and XRP futures. Published 5 hours ago on February 22, 2019 By Joyce Lang Eurex, a Germany based derivatives exchange is all set to launch cryptocurrency futures contracts tied to Bitcoin, Ethereum and XRP. Eurex’s parent organization, Deutsche Börse, has allegedly been wanting to present crypto futures since December of 2017 when Bitcoin price was close to its record-breaking high of $20,000. Addressing German news outlet Wirtschaftswoche, a Deutsche Börse representative stated, “We are thinking about futures, with which private investors and institutional investors can protect existing investments in Bitcoin or set for falling prices of the cyber currency.” Eurex crypto futures is one piece of Deutsche Börse’s endeavors to extend its blockchain-based applications. In Spring of 2018, the exchange declared cooperation with HQLAx, a fintech organization that has some expertise in providing liquidity solution for institutional customers. The organizations are building up a securities loan offering dependent on R3’s business blockchain product, Corda. Deutsche Börse says the activity is gaining noteworthy ground with six banks affirming they’ll join the stage at dispatch date, which is planned for the starting months of the current year itself. Eurex was established in 1998. It is the seventh-biggest derivatives exchange around the world, as per information by Statista, and the fifth-biggest exchange by a number of single stock futures contracts exchanged in 2017, as per information by the World Federation of Exchanges. Continue Reading #Bakkt Bakkt: How will it affect Bitcoin Price? BTC to the moon? Published 22 hours ago on February 22, 2019 By Joyce Lang If there is approval on Bakkt by the US Commodity Futures Trading Commission (CFTC), then the Bitcoin futures trading system could contribute to a strong Bitcoin turnaround. The previous post on bakkt clearly describes that the venture’s founder, Intercontinental Exchange (ICE), is no doubt the world’s most successful financial exchange operator. Which is also led by the visionary entrepreneur Jeffrey Sprecher, ICE also owns The New York Stock Exchange and leading futures exchanges in many major categories of the asset. This extraordinary track record seems to appeal to institutional investors, whose regulations require investing through government-regulated channels. The lack of approval of US regulatory helps to explain why many institutions have sat on the crypto sidelines. Bakkt has also appealed to some big financial institutions. JP Morgan has recently announced the launch of its own centralized cryptocurrency. And that may not prevent JP Morgan from using Bakkt to trade Bitcoin for its own account, or for clients. Bakkt is designed to both facilitate trading and strengthening Bitcoin’s fundamentals. According to Bakkt, partnerships with tech giant Microsoft and retailer Starbucks will help in the development of the next generation. Bakkt Launch The shutdown of government and the absence of CFTC regulatory approval have postponed the launch of Bakkt. According to Sprecher’s statement during ICE’s report, the ventures are said to be launched later this year. Bakkt has also claimed that the delay in the decision has allowed it to build a powerful base for institutions that are interested in its services. It has also raised $182 million for the venture and has also invested a considerable amount in the project, estimating its annual costs for Bakkt at over $20 million. It seems quite possible that Bakkt could receive the approval from the US government for its venture this year. If it happened so, then the investors could experience a new level of confidence in the future of Bitcoin and in the market of cryptocurrency. Continue Reading #Bitcoin Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes Published 23 hours ago on February 22, 2019 By Nadja Eriksson These days saw the highest and rapid increase ever for Bitcoin futures on the Chicago Mercantile Exchange as the amount exceeded 18,000. Institutional investors are paying attention to this as the bitcoin future contracts get snapped up at an ever-increasing rate. Record of BTC Contract Size on CME: As per the stats of CME they were 18,338 on Wednesday, which is the highest figure ever recorded till now. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices. Upcoming contracts enable explorers to bet on the prices rather than to purchase the physical assets. So these figures might be a little misleading. When the new product which offers the physically settled contracts hit the market, they will be paying out in BTC which will drive tremendous momentum for crypto markets. Over the past year or so the expectation of a crypto Exchange Traded Fund (ETF) being launched has been telecasted and dominated the news. The year 2018, has been the year of regulation and cooling off which was only to be expected after the previous year of rampant FOMO and parabolic market action. This year 2019, is expected to be different as many industry experts predict the launch of at least one institutional investment vehicle. As per the Block European exchange giant, Eurex is preparing to launch crypto and bitcoin futures so the list of institutional offerings is increasing rapidly. The cognate exchange is operated by Germany’s Deutsche Börse, which will be offering Bitcoin, Ethereum and XRP imminently according to the report. Exchange traded funds are the future: In addition to these future products, there is already one type of Exchange Traded Funds that are actually traded through an ETN (exchange-traded note) which allows investors to get direct exposure to Bitcoin prices. The Grayscale Bitcoin Trust (GBTC) crosses the technicalities of buying and storing Bitcoin but still allows investors to get into the action by buying shares that trade at around a thousandth of the price of BTC. GBTC has been highly popular with over $800 million which is already invested in the Bitcoin fund. Furthermore, Bitcoin is the most popular. 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