Restless blockchain: new fork is on the way


New cryptocurrency is the brainchild of two teams of anonymous developers 007 and EVEY.

In the cryptocurrency space here will be another fork. This time it will be Bitcoin Diamond, launched recently by two anonymous mining teams EVEY and 007.

As in the case of bitcoin cache, Bitcoin Diamond decided to get rid of the scalability issue by increasing the block size to 8 MB. On the website Bitcoin Diamond says: “the speed of the generating units will be increased five times, and the ultimate goal of the fork is to increase the speed of confirming transactions for the entire BTC blockchain”.

Bitcoin Diamond will use the new algorithm proof-of-work (proof of performance), which is considered more effective. Also, the network is positioning itself as more anonymous than bitcoin. Unlike the bitcoin network, the amount of transactions and balances BCD of Bitcoin Diamond encoded.

As with the previous coins, which were the result of pre-forked instances, tokens Bitcoin Diamond will be distributed to holders of bitcoin in the ratio of 10 to 1 BTC BCD. As stated on the project website, after you fork a new token will be supported by more than 12 exchanges.

But in all this there are some strange moments. For example, developers and operations teams work anonymously, without revealing their names or faces publicly, often even on an intuitive level is a sign of questionable activity. Moreover, there is no whitepaper or other technical information, confirming the words of the developers.

And yet, if all goes as planned, this fork will be the third in the last four months. (And could be a fourth if not for the abolition of hard forks SegWit2x). And although in the short term, these decays are positive for bitcoin prices, the overall market fragmentation is beginning to cause increasing concern.

Some members of the cryptocurrency community to claim that a series of pre-forked instances may undermine the bitcoin ecosystem, which can then be transformed into a crisis.

However, the bitcoin did not seem concerned about this, trading near new highs under the $8200, and some analysts predict that by the end of the year the price will exceed $10,000.

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