Bitcoin Diamond

Overview

Bitcoin Diamond (BCD) was created in November 2017 as a fork of Bitcoin, with the stated purpose of improving upon Bitcoin's limitations in terms of transaction speed, privacy, and accessibility. The project claims to offer faster transactions, enhanced privacy features, and a larger supply to make individual units more accessible to everyday users.

Intended Purpose & Actual Usage

The creators intended BCD to serve as a medium of exchange and store of value with improved technical specifications compared to Bitcoin, including larger block sizes (8MB) and a total supply of 210 million coins (10x Bitcoin's supply). Currently, BCD appears to be primarily used as a tradable digital asset on various cryptocurrency exchanges.

Business Model & Platform Activity

The business model revolves around providing an alternative cryptocurrency with supposedly enhanced features. However, development activity appears minimal, with limited updates to the project's codebase in recent years. The project maintains basic blockchain functionality but hasn't demonstrated significant technical innovation beyond its initial fork.

Token Distribution & Governance

Bitcoin Diamond followed a fork-based distribution model, where Bitcoin holders at the time of the fork received BCD tokens at a 1:10 ratio. This distribution method provided a relatively fair initial allocation, though detailed information about the current token distribution is limited.

Real-World Adoption

The cryptocurrency has achieved limited real-world adoption beyond trading on cryptocurrency exchanges. While it maintains some trading volume, there is little evidence of substantial merchant adoption or use as a payment method.