A fresh new Bitcoin fork which was successfully launched on Friday leading to Bitcoin Diamond, but its 4.2 billion coins are already raising questions.
Bitcoin Diamond (BCD), which launched at block 495866, aims to switch from proof-of-work to proof-of-stake after mining is completed – after just 10,000 blocks.
A curiously complex introduction on Bitcointalk on November 22 created a way for Bitcoin’s latest doppelganger, which unlike previous incarnations Bitcoin Cash (BCH) and Bitcoin Gold (BTG) has hardly anything in common with Bitcoin (BTC) at all.
Despite claiming a 28-exchange support figure, however, little is known about what BCD aims to achieve.
An unidentified developer team, along with an unidentified ‘Bitcoin Diamond Foundation,’ appears to be in charge of the groundwork, yet user queries about accessing coins yield a standardized response.
Those wishing to unlock their BCD balances should ask wallet providers themselves, developers suggest, apparently hoping combined pressure will force the Bitcoin ecosystem to adapt to yet another hard fork.
That process is slowly occurring with Bitcoin Gold, the previous fork of the network which is nonetheless gaining momentum on markets.
Data from Coinmarketcap has shown that all-time highs of $526 could well be surpassed if current enthusiasm remains. Over the past 24 hours, BTG has gained more than 40%.
Read more about Bitcoin Diamond here
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