Bitcoin DiamondPrice

(BCD)

Bitcoin Diamond (BCD) is a hard fork of the original Bitcoin blockchain that occurred in late 2017. It was developed by a group of anonymous contributors who aimed to address specific limitations they perceived in the original Bitcoin network, such as slow transaction speeds, high costs, and a lack of privacy. To tackle these issues, the project increased the block size and adopted the X13 hashing algorithm, which was intended to encourage decentralized mining using GPUs and CPUs instead of specialized ASIC hardware.

Bitcoin Diamond is frequently categorized by the community as a stagnant or "zombie" project. This assessment stems from the fact that the project's official code repositories have not seen significant updates or major commits for several years. While the network technically remains operational, there is a notable absence of active development, ecosystem growth, or new features being implemented by the founding team.

Confusion often arises because the "BCD" ticker is utilized by two unrelated projects. One is the Bitcoin Diamond blockchain, while the other is BC Dollar, an internal token used specifically by the BC.Game platform. These are two distinct assets with different underlying technologies and purposes. Users should carefully verify which asset they are interacting with to avoid confusion between the legacy Bitcoin fork and the gaming-related token.

Liquidity for Bitcoin Diamond has decreased over time, and many major global exchanges have delisted the asset. However, BCD is still available on select trading platforms, including LBank. Due to its limited availability on top-tier exchanges, users should be cautious regarding liquidity and ensure that their chosen platform fully supports BCD deposits and withdrawals before initiating any transactions.

Individuals who held Bitcoin in private wallets during the November 2017 fork are technically eligible for Bitcoin Diamond. To claim these tokens, users must use the private keys from that period. However, this process is considered extremely risky. Entering old private keys into outdated or third-party wallet software can expose your keys and potentially lead to the theft of other assets associated with those keys. Most security experts advise against attempting to claim these tokens unless you are highly proficient in blockchain security.

Technically, Bitcoin Diamond can still be mined because it operates on a Proof-of-Work system using the X13 algorithm. However, network activity is very low. This low level of participation results in reduced network security, making the blockchain more susceptible to potential threats like 51% attacks. Consequently, while mining is possible, the network is generally not considered a primary choice for those seeking high-security blockchain environments.