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Bitcoin Diamond Establishes Itself as New Currency

Hard forks can give birth to new cryptocurrencies and two new Blockchains. It depends then on the community surrounding these chains and the markets as to which one would become more ‘dominant.’ After a hard fork in usual cases holders of the original coin, also end up having the new coin. Bitcoin has had a number of hardforks this year, which include Segwit, SegWit2x, Bitcoin Cash, Bitcoin Gold and the latest being Bitcoin Diamond. While the changes brought in by SegWit allowed Bitcoin to continue on as the currency as it was, Cash, Gold and Diamond have created new currencies. Cryptocurrency forks like the ones that happened in Bitcoin usually require support from coin miners. In case of Bitcoin Diamond, for example, the fork occurred at block 495866 and was made possible by minders Team EVEY and Team 007.

The motivations for creating forks can be different and can range from ideological to implementing ‘reforms.’

Giving birth to a new coin

Bitcoin Diamond (BCD) has now its own chain and even a foundation that will support research and development related objectives. The currency has taken on a divergent road from its parent. The Bitcoin Diamond Foundation has already begun efforts to build a community around the new crypto. In a major development they have secured the help of Co-founder of BTCC, Linke Yang, who will act as an advisor. Yang’s help will help BCD gain ground in China. BCD Foundation informs Cointelegraph that they have already got community teams in place in China, Italy and Korea, while those in North America and Australia are being established. There are plans afoot to bring on board other experts to help conduct R&D activities. Bitcoin Diamond will have a total of 210 mln coins, which is ten times the number Bitcoin has, out of which 170 mln will be available for the markets and the rest would be utilized as a ‘rewards pool’ for the purposes of tributes and mining.

Important developments in BCD universe

After BCD came into being, it has already found some support in the form of exchanges. 33 exchanges have agreed to list the new coin. Some of which are Binance, OKEX, Huobi.Pro and Bit-Z. EXX.com has even announced futures trading of Bitcoin Diamond. Wallets that are supporting BCD include BitGo, Bitpie, Coldlar and ATOKEN. On a technical front mainnet code upgradation has been completed and so has the mining algorithm. Mining pool interface and GPU miner development is currently in progress. BCD will be supporting both AMD and Nvidia based GPU mining.

Aims and objectives

The BCD team wants to add new features and improve the speed of transactions.  In case of Bitcoin (BTC), the transactions have been taking longer than before since BTC is only limited to one transaction every three seconds and has a blocksize of only one megabyte. In case of BCD the block size has been increased to eight MB. This means that BCD transactions can be conducted five times faster than BTC transactions. BCD will also have a lower transaction fee, as the amount of BCD is significantly greater than BTC, the initial cost of participation for users would be reduced. By adding features such as transaction privacy, BCD will be taking a significant step away from BTC. At the moment BTC transactions are visible to everyone, BCD will encrypt this information. Users of BCD will be able to hold, send and receive coins to each other without having to worry about prying eyes.

A fork in the road

Forks are just like the physical forks in a road. When they occur, there can be instances that two currencies set on completely different paths. In case of Bitcoin Diamond, the new currency is now already shaping its future. However, when it comes to adoption, it would be their efforts centering around community building that would assume significance. It may be easy to launch a new currency, but that is only half the work done. Getting people to use the currency would need the implementation of features and attributes that are demanded by the mass markets.

DATARIUS – THE FIRST SOCIAL P2P CRYPTOBANK

Datarius Cryptobank invites all to become participants of the first social p2p cryptobank. The p2p model is no longer innovative in fintech, however, the socialization of a financial company, and especially in the cryptocurrency segment, is a unique and completely new approach. Datarius main target is to demonstrate that fintech can be completely different.

Datarius Team decided not to impose any services at all upon the users. Ecosystem will propose three listings with different trust levels – from the borrowers minimally verified by the system algorithms and to the completely transparent borrowers, thoroughly reviewed by the project’s Risk Department. Any interested user, at any time, can personally order one or another related service – in-depth computer evaluation, evaluation by project partners, evaluation by the Risk Department, evaluation by user-managers and so on. The results will be immediately available to all other users. Accordingly, one or another application can automatically shift from one listing to another in keeping with the wishes of the project participants, and not merely as preferred by the submitting user. Thus, Datarius provides its users with complete freedom of choice both in terms of actions and cost. There will be a very symbolic fee if users haven’t used the services of project. Moreover, this will allow partner projects, including blockchain, as well as simple professional users or trained users, to independently determine the cost of their services and to earn with the project, acting both as a project participant and as a consumer of its services. This model offers great opportunities to all market participants.

Datarius Cryptobank has very ambitious targets for the expansion of the fintech market. It is the only one Cryptobank who declare the socialization of the fintech, full freedom of action and formation of service fee by users, declare and have the expertise in implementing instant money transfer systems such as Western Union, Moneygram, Transferwise.

Datarius is the first project to declare the whole fintech market in a single window.

Datarius Cryptobank will provide automatic package closing of offsetting orders (at the user’s request), as well as the assist at the closing to expedite the interaction. This means that if a number of offsetting orders meets the user’s requirements, such orders will be closed automatically, and if there are orders in the system that do not meet any criteria, they will be shown to the initiator and automatically recommended for acceptance.

The whole system is aimed at making the interaction between users possible without involving the team core. Datarius reserves only the power to ensure the operation of the platform and to provide a wide range of related services. Thus, project plans to completely cancel out the shortcomings of traditional systems – lobbyism and the promotion of toxic bonds.

Information about the project is fully open and can be found in their draft of White Paper. Every member of the team is an expert in his/her field. The entire Datarius core has no less than 10 years of continuous work experience within its field of competence. The core management team has experience in banking and financial spheres, including work with non-performing loans, experience in large international companies. The technical arm of the project is ultra-class professionals, enthused about their work and pioneers in the field of decentralized technologies. Datarius also has a strong support in legal issues.

Datarius Cryptobank has opened the doors to participate in the project to all and has gone to the pre-ITO stage which will ends on 12:12 UTC 31.12.2017. A SoftCap of $125,000 has been reached within just a few hours from the start of the campaign, as stated by information now available on the official website of the project. The main round – ITO is scheduled for February 2018. You can follow the progress of pre-ITO in real time on the official Datarius Cryptobank website

trade.io Partners with Bancor Protocol to Provide Continuous Liquidity to Token Holders

trade.io, a next generation blockchain based financial exchange, continues to add to its impressive list of partnerships by announcing plans to integrate Bancor Protocol, a standard for autonomously convertible blockchain cryptocurrencies called Smart Tokens.

The integration allows the trade.io ERC20 token known as Trade Token or “TIO”, to be converted to and from Ethereum ERC20 tokens in the Bancor Network directly from a simple web application. The creation of a Bancor-compliant Token Relay will take place shortly after the conclusion of trade.io’s token sale and will allocate 2% – 5% of total market cap. You can join the trade.io community here.

On the relationship, trade.io’s CEO, Jim Preissler commented, “We continue to deliver to the trade.io community unique value added propositions, and see this relationship with Bancor as a further example. We already have generated a large demand for our community and it’s only logical to provide a simple way to convert tokens.

trade.io is currently in the midst of its token generation event and has received nearly $20 million in contributions from over 10,000 participants. Earlier this year the Bancor Protocol attracted $153 million in contributions, making it one of the most successful token generation event launches to date.

Visit https://trade.io/bancor for further information and to read the trade.io White Paper.