Bitcoin Diamond (BCD) is actually in the green today. Yes, in a sea of nothing but double-digit losses over the past 14 hours, this coin has managed to add 3% to its price since yesterday. In the past week it’s gained 179% – while Bitcoin Cash (BCH) and Bitcoin Gold (BTG) have lost 44% and 51%, respectively, in that same amount of time. Bitcoin (BTC) itself has plunged 35% lower this week, and is down and is down 57% for the month.
So what is it about Bitcoin Diamond (BCD) that is causing it to survive today’s market-wide freefall, especially compared to its rival Bitcoin-forked currencies?
Bitcoin Diamond (BCD) is different than other Bitcoin hard forks
Sure, there have already been a handful of hard forks from the Bitcoin (BTC) blockchain that have resulted in the creation of a few new currencies – but BCD has a little bit more to offer than its sibling hard forks. You can also buy it on around 35 different exchanges.
Let me emphasize a little bit because the difference between this coin and some of its rival currencies are very small – but could be enough to push it ahead of the pack. Bitcoin Diamond (BCD) certainly has a ton of advantages over the original Bitcoin:
- Capacity of four times as many transfers per day
- Four times higher maximum block size
- Supports claiming
- OPTIMIZED X13(GPU) compared to SHA256(ASIC) for mining
- Encrypted transaction amounts and user balances
The encryption is what sets Bitcoin Diamond apart
Bitcoin Diamond makes sure that each transaction makes each user’s account balance encrypted – as well as the amount of the transaction. Nobody will ever know how much BCD is in any one wallet, or how much they just received. Onlookers will only be able to see that a transaction between addresses took place.
— Bitcoin Diamond Volunteer (@BCD_Volunteer) February 4, 2018
In fact, BCD is the only one of the hard-forked BTC currencies that offers encrypted transaction amounts. Other than that, the differences between the coins are slight.
However, one final advantage that this coin has over all its other hard-forked peers is that its maximum supply is 210 million coins – ten times more than all the other hard-forked BTC currencies. That makes barriers to entry a lot lower for newbies, and this coin is seeking to make participation easier to join in on overall.
Which BTC hard-forked coin do you think has the winning edge?
If it was all based on this week’s price performance, then Bitcoin Diamond would certainly come out on top.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.