Bitcoin diamond (BCD) is a fork of bitcoin that takes the existing bitcoin infrastructure and enhances it to support more advanced privacy features and a new currency (BCD). The fork was pre-arranged with a specific block on the bitcoin blockchain set as the trigger point at which a new blockchain would be generated. It shares a history with the bitcoin up to the point of forking where the new network begins to register its own transactions and creates new blocks through mining.
History
The original bitcoin network was created by an anonymous person identified as Satoshi Nakamoto in August 2008 introducing the concept of trustless peer to peer transactions. The bitcoin has since seen a number of forks that have led to the creation of other cryptocurrencies focused on solving specific challenges faced by the bitcoin.
Bitcoin diamond was forked from the original bitcoin on November 24th, 2017 when it reached a block height of 495,866. The main net was updated in December 2017 with the main net lightning network expected to be available in the 3rd quarter of 2018.
Bitcoin diamond’s founders remain anonymous with the coin’s development governed through the bitcoin diamond foundation. There was no initial coin offering for the bitcoin diamond. Rather, holders of bitcoin at the time of the fork automatically became owners of the new BCD coins receiving 10 BCD coins for each BTC held.
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