Telling Stories about Cryptocurrencies in KAiREX; Bitcoin Diamond(BCD)
Hello,
It’s essential for crypto-traders to get the right information and knowledge about the cryptocurrencies to be invested in. For better understanding, KAiREX has prepared information about various cryptocurrencies. Through this series of informative contents, you will learn about what cryptocurrencies will be listed on the KAiREX and what vision they show.
The first content is about Bitcoin Diamond ( BCD ), which works hard to commercialize and build BCD ecosystem.
BCD is a hard fork of Bitcoin, which claims ‘Better Bitcoin.’
BCD team tells that they will consecutively develop and improve the transaction speed based on original features of BTC.
Let’s see more detail information of BCD!
■ Q&A
Question 1. What problems does BCD attempt to solve?
BCD has been born and developed to solve the problems that BTC has : 1) high transaction fee and 2) slow transaction confirmation. These things have been main threshold for new members. Thus, BCD team raised the block size limit up to 32MB and increased the total amount of BCD up to 10 times that of BTC. These actions of BCD team is to achieve their ultimate goals : 1) to improve transaction confirmation speed for the entire blockchain and 2) lower the cost of participation thresholds by reducing the transaction fees and increasing the supply. BCD team tells its mission as following : Making digital currency accessible and usable for everyone regardless of their economic status, country of origin, or level of ability.
Question 2. What are the strengths of BCD?
First, increased block size limit up to 32MB that makes transaction confirmation speed faster than that of BTC and second, increased total amount of BCD up to 10 times than that of BTC which makes the cost of participation thresholds lower compared to BTC. To summarize, fast transaction confirmation and low participation cost compared to BTC are main strengths that BCD has.
Question 3. Which wallets will be good for BCD?
Please click the URL as follows to download the wallets for BCD : http://btcd.io/#/download. BCD exclusive wallet is supposed to be provided during Q3 of 2018.
Question 4. Please explain more about “Lighting Network” that is mentioned on white paper.
Lighting Network is additional scaling solution that BCD team has been working for. Using Lighting Network, BCD can enables users to instant transactions at a nearly limitless pace for a very low cost.
Question 5. What else news about BCD foundation or BCD?
Recently, Linke Yang, a co-founder of BTCC which is the first cryptocurrency exchange in China, has join in BCD as an advisor and he would take a role for the growth of BCD. Also, BCD opens, BCD Bazaar, online shopping mall in cryptocurrency area, you can purchase splendid products here.
Link: https://www.bcdbazaar.com
Have you got a better understanding about BCD? If you have any question about BCD, feel free to leave a message.
For next, Bank of Hash Power Cash ( BHPC ) will be introduced.
