Binance Exchange Opens Bitcoin Diamond (BCD) Token Deposits and Withdrawals
One of the biggest names in the crypto ecosystem, Binance, just announced that the exchange has opened deposits and withdrawals for Bitcoin Diamond (BCD) at 2018/09/05 10:00 AM (UTC).
— Binance (@binance) September 5, 2018
Bitcoin Diamond is one of several competing versions of bitcoin that have emerged which promise to improve bitcoin in a number of different ways. Found online at BTCD.io the coin aims to raise bitcoin’s block size limit to 8MB.
There’s a total supply of 210 million Bitcoin Diamonds. The price was set at a rate of 1 BTC = 10 BCD. That’s a 10 times higher total supply than the original bitcoin blockchain. Ultimately, Bitcoin Diamond seems to have more in common with Bitcoin Cash (BCH) than legacy Bitcoin (BTC).
Given below are some of the features of Bitcoin Diamond:
- Max Supply: 210 million
- Distribution: Mining and claiming
- Mining Algorithm: SHA256
- Block Time: 10 minutes
- Max Blocksize: 8MB
- Difficulty Adjustments: Every two weeks
- Max Transactions Per Day: 4.8 million
- SegWit: Yes
- Relay Protection: Yes
Following Binance’s announcement, BCD has shot up close to 80% in value in just a few hours and is now trading at $2.37 USD, according to CoinMarketCap. It is currently ranked the 30th biggest cryptocurrency with a market cap close to $365 million USD.