Bitcoin Diamond has arrived with 4.2 billion coins
Bitcoin Diamond has arrived with 4.2 billion coins
Friday 24 November saw the arrival of a brand new Bitcoin fork, but the 4.2 billion coins it has emerged with are already raising a number of questions.
Bitcoin Diamond launched at block 495866, with the aim to transition from proof-of-work to proof-of-stake once the mining process is completed, which means after just 10,000 blocks.
A strangely complex unveiling on Bitcointalk laid the path for the latest Bitcoin doppelgänger, which differs from other incarnations, like Bitcoin Cash and Bitcoin Gold, in that it has very little in common with Bitcoin itself.
There is very little known about what Bitcoin Diamond actually aims to achieve, besides a 28-exchange support figure. It seems the groundwork is being managed and executed by an anonymous team of developers, alongside an anonymous ‘Bitcoin Diamond Foundation’. Despite this clear presence, it still occurs that user queries regarding access to coins are met with a standardised response.
Those who want to unlock their Bitcoin Diamond balances should approach wallet providers themselves, according to the developers. Perhaps this is in hope that the combined pressure might force the Bitcoin habitat to adjust to accomodate this latest fork.
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So many variants of Bitcoin are going to create a confusion for an average user and this would lead to loss of coins if sent on the wrong chain.