Bitcoin Diamond (BCD) is a hard fork of the Bitcoin blockchain and is operated by the Bitcoin Diamond Foundation. It will split from the Bitcoin blockchain at block height 495866, after which a new Bitcoin-like blockchain will be created, generating Bitcoin Diamond. Bitcoin Diamond miners will use a new proof-of-work algorithm to start creating blocks, and will gradually add features such as privacy protection to the original Bitcoin features, which will result in a fork of Bitcoin.
The original Bitcoin blockchain will remain unchanged, and a new branch can be separated from the original chain. The new branch has the same transaction history as Bitcoin until the fork, and then generates a unique block from it. This process will create a new cryptocurrency, which we will call Bitcoin Diamond.
Privacy Protection:
Bitcoin Diamond protects the privacy of participants' transactions by adding the function of encrypting the transfer amount, making the entire transaction ecosystem more secure and private.
Increased Transaction Speed:
Bitcoin Diamond will increase the size of the unit block to 8M and support a dynamic value for each block size, making it more flexible to handle all transactions in each block, and continue to use segwit to improve the utilization of the unit block for storing transactions.
Lower Transfer Fees and User Participation门槛:
The total amount of Bitcoin Diamond is 10 times that of Bitcoin, which reduces the unit participation cost and threshold for users to a certain extent, and the high fees are diluted. Users can complete a transaction with fewer fees, making it easier for more users to participate in the trading activities of Bitcoin Diamond.
1.隔离见证
Two types of information are recorded on the block in the blockchain: transaction information and witness information. Transaction information indicates that someone transferred a certain amount of money at a certain time. Witness information is to verify the reliability of the transaction information at a certain node and time point on a certain node.
In the Bitcoin network, both types of information are placed in one block, which makes the already small storage space unable to store much data. It is understood that the storage space of a Bitcoin block is 1M, which is根本 not enough, resulting in a phenomenon of transaction congestion.
Therefore,隔离见证 was developed, and only transaction information is recorded on the block, so that more transactions can be recorded to avoid congestion of the transaction channel.
Bitcoin Diamond uses Segwit to increase the number of transactions carried by a unit block and reduce the storage space of the entire BCD network.
2.闪电网络
The Lightning Network is a decentralized system. The brilliance of the Lightning Network is that it enables real-time and massive transaction networks without the need for trust in the other party or a third party. The Lightning Network is based on the evolution of micropayment channels, and has creatively designed two types of transaction contracts: Sequentially Timed Cancelable Contracts (RSMC) and Hashed Time-Lock Contracts (HTLC). RSMC solves the problem of one-way flow of funds in the channel, and HTLC solves the problem of funds passing across nodes. These two types of transactions form the Lightning Network.
The core of the Lightning Network is to move transactions from the chain to the off-chain, thereby solving problems such as transaction congestion and slow transaction speed in the transaction process.
For example, to help you understand, if Bitcoin is compared to RMB, the Lightning Network is Alipay, and the Bitcoin network is like a bank, and it is the only bank. According to the transaction speed of Bitcoin, this bank can process 7 transactions per second, but there are many queuing people, so the bank will be congested, and people will start to complain about the slow transaction speed, and there will be a lot of complaints.
The Lightning Network appears, just like the Alipay we use every day. You transfer the RMB you hold to Alipay, and you can complete various transactions on Alipay. Finally, when you want to settle, you extract the money on Alipay to the bank, and the transaction is completed. And the bank branch only needs to record two transactions. The Lightning Network works like this, and it can solve various problems of the original Bitcoin network.
Bitcoin Diamond can use the Lightning Network to improve transaction speed, scalability of the chain, and user experience.
