DMD Diamond Blockchain Review: TOP LAYER 1 PROJECT. HOW TO CHOOSE CRYPTO PROJECTS TO INVEST IN 2024?
Have you ever observed that Ethereum is getting more and more centralized? Increasingly, enormous amounts of tokens or nodes are accumulating in the hands of major players.
And how many Layer 2 (L2) Ethereum blockchains have surfaced recently? By the way, there are now more than 50 of them, and I highly doubt that all the 50 will be actively employed. But the problems remain the same, and a new one has surfaced. Lately, it seems to have become common to airdrop tokens, grabbing most of them for yourself and cruelly cutting off normal users mixed with sybils. The ZkSync decrease is still a long way off. And all of them simply compound the problem with centralization, which in turn inhibits blockchains from completely evolving.
Amidst a lot of news about L2, independent Layer 1 (L1) blockchains with EVM (Ethereum Virtual Machine) support seem to have ceased arriving on the market. At least, there is scarcely any news about them.
Yes, you may suggest that the same TON might fulfill such requirements, but it has exhibited other difficulties. Remember the airdrop of Notcoin? The network was congested, and the tokens came with a large delay. Twenty-four hours to withdraw a token? It is definitely a poor possibility for a top-tier blockchain.
Solana, on the other hand, is not compatible with EVM. Many developers just don’t go there to construct their projects since they don’t want to learn a new programming language. As a result, there are fewer promising initiatives on Solana than there could be.
All blockchains have certain downsides, don’t you think? I thought so too, and these ideas motivated me to perform my own L1 blockchain survey. When the number of evaluated projects topped a dozen, I suddenly stumbled upon the DMD Diamond blockchain. You haven’t heard of it? Until recently, I hadn’t either, but now, after a careful investigation, I’m positive about this idea. I’ll tell you the specifics.
What is the DMD Diamond Blockchain?
DMD Diamond Blockchain (ticker DMD) is a project with a lengthy history that started back in 2013. It was one of the very first blockchain ventures. And I was extremely shocked that, for such a long established project, I hadn’t heard anything about it. But as I looked into it more, I learned that for the last few years, the engineers were simply concentrating on the product, not marketing. In reality, blockchain is more alive than ever. In their tweets, the developers write about their involvement in conferences, working with Tier1-Tier2 exchanges for the future listing of their DMD diamond currency, and developing a big upgrade of DMDv4, which can compete with Ethereum Dencun. But first things first.
DMD diamond blockchain undoubtedly improves a decentralized ecosystem. This is what I observed immediately. The project has no airdrops, the coins are not concentrated in the hands of significant players, and there are no plans for huge splits. 87% of the coins are already on the market. There is also no centralized management; all major decisions are decided by voting in the DAO.
Now let’s check behind the hood. This is effectively the first blockchain to integrate the cooperative consensus mechanism of HBBFT with an EVM-compliant blockchain. Simply said, any project that operates on Ethereum, Polygon or Binance Chain may also run on DMD diamond blockchain. This precludes a situation like what is accessible on Solana, where developers have to learn a new language to start creating applications on top of it. Here, the amount of viable projects and developers are significantly bigger, and there are no interoperability restrictions for developers to transfer from Ethereum projects and start constructing projects on DMD diamond blockchain. And for regular users, this will result in a bigger number of possible projects, more demand for DMD diamond coins and correspondingly a higher price for the native DMD diamond coins .
A variety of initiatives are being created on top of the blockchain. Here’s a summary of the big projects that have been finished or are approaching completion: Uniq NFT Marketplace, Gladiators Game, Uniq Earth Metaverse, and more. Like any other great blockchain, the DMD Diamond blockchain helps developers grow their products at every step, and there is also the chance of DAO financing if your project’s initiative obtains 33% of the total votes. DMD diamond blockchain is undoubtedly developing in the right direction, establishing its ecosystem with numerous interesting applications.
Developer-friendly blockchain – which one is it?
It is crucial that a blockchain is EVM compatible, so that a developer may migrate code created on Ethereum to another blockchain with little modifications. Also, the network should have low costs and large bandwidth to enable numerous rapid and inexpensive transactions. Those are the voids the DMD diamond blockchain covers – containing all of these unique properties.
Think back to Solana. It expanded because of its accelerator program. The crew essentially trained proggers to walk in their language. And it paid off. The ecosystem flourished and today there are hundreds of amazing projects on Solana, GameFi, pump fun sites, casinos and more.
The DMD diamond blockchain has the potential to mimic this type of ecosystem expansion. The number of active proggers who know Solidity has topped 22,000, and owing to EVM compcompatibility,y can simply create code on DMDthe DMDamond blockchain.
If you are a developer, I advise you take a deeper look at the project documentation to comprehend the specifics. And if you are intending to construct the projethe DMDon DMD diamond blockchain, in my view, now is a good moment to get some DMD diamond coins from either Bitmart or PPB2B, to cover future fees. After the DMDv4 upgrade, which should be issued in the fall of 2024, the coin’s price may climb, therefore time is limited.
DMD Diamond Blockchain v4 Update: A Game Changer!
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In 2017, the blockchain underwent a major update, DMD v3, which enhanced stability and introduced smart contracts. And since 2018, the team has been creating DMD v4. They have gone through a series of closed and open beta tests, and in the fall of 2024, the main DMDv4 network should be activated, replacing the existing v3 version. This will be the biggest upgrade since 2017, equivalent in importance to Ethereum Dencun or Ethereum Shanghai. It will be fascinating to observe how the community reacts.
In brief, the upgrade will provide better security algorithms, an industry-first HBBFT consensus algorithm, and a validation mechanism with delegated proof-of-stake POSDAO. These would let the ecosystem incorporate new features such as strong security, total decentralization, immediate transaction finality, high throughput, censorship and fork resistance, and frontrunning prevention techniques, among others.
The team has been working on this upgrade for 6 years, and now they are stepping out of the data room and delivering a genuinely creative product that will bring new features to the market. Therefore, I feel that this upgrade will affect the future fate of the project, its popularity in the crypto world, and the price of the native DMD diamond currency.
DMD Diamond Coin’s Analysis and Price
Since the team has not been active in marketing and promoting in any manner, the price of the DMD diamond coins has been in the same price range over the previous few years. The 2–3$ price fork is a perfect price to enter before the forthcoming launch of DMDv4, as well as the listing on major exchanges, which should take place in the near future and will surely increase demand in the currency.
It will be feasible to simply make 5–10x on this news. And if we wait for the bull run, the number of X’s can approach several dozen.
Due to the limited capitalization, the price of the DMD diamond coin is presently quite volatile, and it will be simple to disseminate positive news about the project.
From the present price of $2.5, I aim to wait at least until the autumn release of DMDv4, and then look at the situation and potentially correct tiny amounts of profit. I will leave part of my coins for the long term to wait for the bull run. During the previous bull run in 2018, the token was valued at $30.
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What I expect from the project and why I’m thrilled about it
The team has already proved that it can work in the long run, and that’s fantastic. With ventures like these, it is crucial to create a long-term plan, not simply make a fortune on one airdrop and ride off into the sunset.
I believe in the DMD diamond blockchain’s promise for numerous key reasons:
The project has endured the test of time and demonstrated its durability in the marketplace.
The DMD diamond blockchain offers innovative HBBFT and POSDAO technologies that attract developers and consumers, and it also has a big update coming shortly (the DMDv4).
The ecosystem is holistic, and there can be no forks in it (it’s fork- and censorship resistant), as was the case with Ethereum Classic.
Finally, this is the fully decentralized blockchain that I was initially seeking for. The project has no airdrops, there are no people with a huge amount of coins that may influence the marmarket, andere is a DAO. There is a requirement of 25 nodes for validation, which considerably decreases the possibility of centralization and makes it hard to attack 51.
DMD Diamond Blockchain is a project with a long and complicated history. And now, asixter 6 years of hard effort, the project is actually rising from the ashes and being resurrected. The project is currently a hidden treasure. That’s why you need to become an early adopter, just like me, pre-DMDv4 release, and thank me later.