Bitcoin Diamond(BCD)

[PRESS RELEASE – New York, United States, February 5th, 2024] Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital. Merlin Chain offers a native scaling solution that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. It is committed […]

Friday 24 November saw the arrival of a brand new Bitcoin fork, but the 4.2 billion coins it has emerged with are already raising a number of questions. Bitcoin Diamond launched at block 495866, with the aim to transition from proof-of-work to proof-of-stake once the mining process is completed, which means after just 10,000 blocks. A strangely complex unveiling on Bitcointalk laid the path for the latest Bitcoin doppelgänger, which differs from other incarnations, like Bitcoin Cash and Bitcoin Gold, in that it has very little in common with Bitcoin itself. There is very little known about what Bitcoin Diamond actually aims to achieve, besides a 28-exchange support figure. It seems the groundwork is being managed and executed by an anonymous team of developers, alongside an anonymous 'Bitcoin Diamond Foundation'. Despite this clear presence, it still occurs that user queries regarding access to coins are met with a standardised response. Those who want to unlock their Bitcoin Diamond balances should approach wallet providers themselves, according to the developers. Perhaps this is in hope that the combined pressure might force the Bitcoin habitat to adjust to accomodate this latest fork. That very process is gradually taking place with Bitcoin Gold; the network's previous fork is breaking the mould and gaining genuine momentum on the markets. Data compiled by Coinmarketcap suggests all-time highs of $526 could very well be surpassed if the current level of interest persists. Over the past 24 hours alone, Bitcoin Gold has gained in excess of 40%. These movements in the cryptocurrency world are interesting - with Bitcoin Diamond having little in common with Bitcoin besides the name, it may seem like new cryptocurrencies are trying to use the 'Bitcoin' name to get ahead. Whatever you may think, it's clear that interest in digital currencies is continuing to grow.

Friday 24 November saw the arrival of a brand new Bitcoin fork, but the 4.2 billion coins it has emerged with are already raising a number of questions. Bitcoin Diamond launched at block 495866, with the aim to transition from proof-of-work to proof-of-stake once the mining process is completed, which means after just 10,000 blocks. A strangely complex unveiling on Bitcointalk laid the path for the latest Bitcoin doppelgänger, which differs from other incarnations, like Bitcoin Cash and Bitcoin Gold, in that it has very little in common with Bitcoin itself. There is very little known about what Bitcoin Diamond actually aims to achieve, besides a 28-exchange support figure. It seems the groundwork is being managed and executed by an anonymous team of developers, alongside an anonymous 'Bitcoin Diamond Foundation'. Despite this clear presence, it still occurs that user queries regarding access to coins are met with a standardised response. Those who want to unlock their Bitcoin Diamond balances should approach wallet providers themselves, according to the developers. Perhaps this is in hope that the combined pressure might force the Bitcoin habitat to adjust to accomodate this latest fork. That very process is gradually taking place with Bitcoin Gold; the network's previous fork is breaking the mould and gaining genuine momentum on the markets. Data compiled by Coinmarketcap suggests all-time highs of $526 could very well be surpassed if the current level of interest persists. Over the past 24 hours alone, Bitcoin Gold has gained in excess of 40%. These movements in the cryptocurrency world are interesting - with Bitcoin Diamond having little in common with Bitcoin besides the name, it may seem like new cryptocurrencies are trying to use the 'Bitcoin' name to get ahead. Whatever you may think, it's clear that interest in digital currencies is continuing to grow.

Originally, companies who need to fund their development cryptocurrency projects did so by providing Initial Coin Offerings (ICOs). For those who need to do this fundraising, a new trend is emerging: the hard fork. The forks imply a protocol change that results in an old and a new version of a cryptocurrency. The developers have no monetary advantage as they only make a change. The holders of the original cryptocurrency keep hold of coins on both branches. This was especially true with Bitcoin Cash; this was a true Bitcoin fork that provided larger blocks. As the developers simply made a change to create larger blocks, they did not benefit financially from this project. It is, however, possible to create a fork where the developers do have a monetary advantage. In the case of Bitcoin Gold, premining was included. The developers begin the blockchain at a specific time and can then mine a certain number of blocks for themselves. The biggest advantage to splitting an established cryptocurrency is that you inherit the existing user base. The only way this can backfire is if the users decide to dump their “free” coins, which can be a disaster for developers looking to make money through the fork. If this dump of coins occurred, the price of the mined coins would drop to zero. ICOs are being attacked across the world as there are no safeguards in place to protect investors. As hard forks are simply a distribution of free tokens, this method should be much more widely accepted. Of course, it is still possible for investors to lose money if they purchase the coins and the prices drop. If a fork is being considered, going ahead with the one with the largest user base makes perfect sense. Bitcoin Cash’s success has sparked many new imitations including Bitcoin Gold, Bitcoin Silver and Bitcoin Diamond. As much as imitation can be a brilliant fork of flattery, the amount of forks Bitcoin currently has can become confusing to users and discredit the claim that there are only a limited number of Bitcoin available.

Originally, companies who need to fund their development cryptocurrency projects did so by providing Initial Coin Offerings (ICOs). For those who need to do this fundraising, a new trend is emerging: the hard fork. The forks imply a protocol change that results in an old and a new version of a cryptocurrency. The developers have no monetary advantage as they only make a change. The holders of the original cryptocurrency keep hold of coins on both branches. This was especially true with Bitcoin Cash; this was a true Bitcoin fork that provided larger blocks. As the developers simply made a change to create larger blocks, they did not benefit financially from this project. It is, however, possible to create a fork where the developers do have a monetary advantage. In the case of Bitcoin Gold, premining was included. The developers begin the blockchain at a specific time and can then mine a certain number of blocks for themselves. The biggest advantage to splitting an established cryptocurrency is that you inherit the existing user base. The only way this can backfire is if the users decide to dump their “free” coins, which can be a disaster for developers looking to make money through the fork. If this dump of coins occurred, the price of the mined coins would drop to zero. ICOs are being attacked across the world as there are no safeguards in place to protect investors. As hard forks are simply a distribution of free tokens, this method should be much more widely accepted. Of course, it is still possible for investors to lose money if they purchase the coins and the prices drop. If a fork is being considered, going ahead with the one with the largest user base makes perfect sense. Bitcoin Cash’s success has sparked many new imitations including Bitcoin Gold, Bitcoin Silver and Bitcoin Diamond. As much as imitation can be a brilliant fork of flattery, the amount of forks Bitcoin currently has can become confusing to users and discredit the claim that there are only a limited number of Bitcoin available.

Innovative and novel solutions to some of society's larger problems have emerged as businesses team up with cryptocurrencies. The latest is the UK based startup, The Blockchain Development Company (BCDC), who hope to improve the transparency of recycling, renewable energy and food industry supply chains, using their own cryptocurrency. Who are BCDC? With the sale of their own virtual currency, the BCDC token, they are hoping to focus on funding three projects: 1. Ecochain – the creation of an investment hub which enables private and public investors to directly finance renewable energy, like solar and wind power, throughout Europe and America. 2. RecycleToCoin – the rewarding of recyclers by exchanging waste for BCDC tokens which they can then use to purchase other currencies or cryptocurrencies. 3. FoodTrax – a system that enables consumers to track where their foods come from, so that they can make more informed decisions about buying locally grown foods. The BCDC tokens and funding projects There is a total supply of one billion BCDC tokens, with a certain number going to fund each of the three projects. To fund Ecochain and FoodTrax, 250 million tokens will be sold in exchange for Ethereum cryptocurrency units (ETH) – at an initial fixed rate of one ETH to 400 BCDC tokens. These Ethereums will then be sold for fiat currency to spend on projects. To fund RecycleToCoin, 250 million tokens will be exchanged with participants for plastics and aluminium containers. For investors of BCDC tokens The pre-sale of 125 million BCDC tokens will end on 20th November and, after this, there will be a main sale until 27th November. To all investors that keep their coins, they will receive an additional 20% of their token amount every year for five years. BCDC has created a chance for investors who missed out on the rise of Bitcoin to participate in the benefits of cryptocurrency. However, perhaps those who missed it weren't ever going to invest anyway and will overlook this opportunity.

Innovative and novel solutions to some of society's larger problems have emerged as businesses team up with cryptocurrencies. The latest is the UK based startup, The Blockchain Development Company (BCDC), who hope to improve the transparency of recycling, renewable energy and food industry supply chains, using their own cryptocurrency. Who are BCDC? With the sale of their own virtual currency, the BCDC token, they are hoping to focus on funding three projects: 1. Ecochain – the creation of an investment hub which enables private and public investors to directly finance renewable energy, like solar and wind power, throughout Europe and America. 2. RecycleToCoin – the rewarding of recyclers by exchanging waste for BCDC tokens which they can then use to purchase other currencies or cryptocurrencies. 3. FoodTrax – a system that enables consumers to track where their foods come from, so that they can make more informed decisions about buying locally grown foods. The BCDC tokens and funding projects There is a total supply of one billion BCDC tokens, with a certain number going to fund each of the three projects. To fund Ecochain and FoodTrax, 250 million tokens will be sold in exchange for Ethereum cryptocurrency units (ETH) – at an initial fixed rate of one ETH to 400 BCDC tokens. These Ethereums will then be sold for fiat currency to spend on projects. To fund RecycleToCoin, 250 million tokens will be exchanged with participants for plastics and aluminium containers. For investors of BCDC tokens The pre-sale of 125 million BCDC tokens will end on 20th November and, after this, there will be a main sale until 27th November. To all investors that keep their coins, they will receive an additional 20% of their token amount every year for five years. BCDC has created a chance for investors who missed out on the rise of Bitcoin to participate in the benefits of cryptocurrency. However, perhaps those who missed it weren't ever going to invest anyway and will overlook this opportunity.