During a time when Bitcoin seems to be suffering more and more, and losing value by the day, there is some good news. Bitcoin Diamond has had a really good week, with the value constantly improving and this is something that the market really needs right now, making a recovery look promising at a time when it is very much needed.
So, what is Bitcoin Diamond and why is it different and gaining popularity? Bitcoin Diamond gained a huge amount of support across exchanges before it was even released, so it is only natural that it would do well when it was. The code used for this new cryptocurrency is similar to that used for Bitcoin Core. The downside to this cryptocurrency seems to be that there are not many wallets that support it.
One of the main differences between Bitcoin Diamond and Bitcoin is that they have a supply of tokens ten times larger than the latter. On top of this though, it claims to solve some of the problems that Bitcoin had, such as anonymity; it fact, this is one of Bitcoin Diamonds main focus. The developers claim to have found a way to encrypt the transaction amounts and balances of all users; similar to the likes of Monero. They also claim to provide faster transaction times, and alleviate any network congestion that might occur, generally making it a better choice over Bitcoin. That said, despite all of the positives, it is unlikely to push Bitcoin; the oldest and most well known cryptocurrency; off of the throne just yet.
Today, Bitcoin Diamond is trading at $2.45, which is up from yesterday, when it was trading at just $2.34. if it continues to rise like it has been, it could be a really positive step forward for cryptocurrencies and Bitcoins, and might begin to help the market begin to recover.