Bitcoin Diamond is a hard fork of Bitcoin that occurred in November 2017, as the crypto market was reaching its peak. The fork took place as a result of a few miners’ issues with the Bitcoin network, which had to do with the block times and sizes.
Bitcoin Diamond also uses a Proof-of-Work algorithm that is GPU based. The BCD blockchain has 10 times as many tokens as Bitcoin does, with 210 million tokens in circulation. Block sizes were also increased from 1 MB to 8 MB, which made transactions faster. All put together, the BCD team wished to create a network that offered faster transaction speeds, lower transaction fees and a high threshold for new users.
The development team has spent much of 2019 working on the Bitcoin Diamond Pay app. The app is an all-in-one crypto service that includes a wallet, a price tracker, payment facilities and shopping features. Ethereum Network wallet integration and bank withdrawal options are next on the agenda for the team, slated for completion by the end of the year. The app is available on desktop, and both Android and iOS.
Going into 2020, the team has stated that they will focus on network upgrades, and browser and wallet upgrades, before proceeding to develop a Go language version of the Bitcoin Diamon node and expanding mainnet functionalities, including a reliable smart contracts based payment platform.