What is Diamond (DMD)?
Future of DMD Cryptocurrency and know how to buy DMD
#1 Diamond: Basics
What is Diamond Coin (DMD)?
- Diamond Coin (DMD) is a decentralized open source digital currency which allows its users to transfer money across the globe instantly, securely and with a near-zero transaction rate.
- Diamond Coin as known as DMD was introduced on 13th June 2013 with a primary aim of providing their users with monetary freedom and secure investment that generates high and secured annual revenue.
- Diamond (DMD) runs on hybrid PoW (proof of work)/ PoS (proof of stake) principle which has proven to provide an excellent resistance to 51% attack.
- Diamond (DMD) coin was launched in the month of June 2013 but after some time the developers left the project. Later in the month of December 2013, DMD Diamond Foundation took over the project leading to successive software releases and formation of DMD supportive services.
- Since its launch in the year 2013, Diamond (DMD) has kept on developing on a constant pace and now is counted amongst one of the oldest PoS coins in the cryptocurrency market.
- Diamond (DMD) Foundation currently includes five core members- Aleksander Mesor (CEO), Helmut Siedl (CVO), Christian Knoepke (CTO), Ivan Vidovic (COO), Stepan Shveicar (CRO).
- The Current daily trading volume of DMD is US $12,299 with a market capitalization of US $9,320,628.
#2 What are the benefits of Diamond (DMD)
- Diamond (DMD): Proof-of-Stake
- Proof of Stake is a mechanism that enables the network to confirm and validate transactions thus preventing fraud.
- Proof of Stake does not require any intensive resource calculations and is much more cost effective as compared to PoW.
- To earn returns from Proof of Stake (Staking) the user needs to own some Diamond (DMD) coins in the Diamond Wallet and keep the wallet connected to the network.
- Every DMD coin in the wallet earns interest which in turn generates new DMD coin. These new coins are awarded to you as a token of gratitude for supporting DMD Network.
- This is a highly profitable investment with a minimum of 20-25% of annual returns.
- Diamond (DMD): Proof-of-Mining
- Direct mining of Diamond coins (DMD) is not possible as it uses environment-friendly Proof of Stake mechanism. However indirect mining of diamond coin can be attainable through Diamond Multipool.
- Diamond Multipool uses a specific mining hardware that allows users to mine other cryptocurrencies. The pay-outs are then converted into Diamond (DMD) coins which are later transferred to Diamond Wallet.
- Mining at Diamond Multipool is done through NiceHash.
- Diamond (DMD): Master Nodes
- Master Nodes are computers that are always connected to the DMD network and executes certain tasks allowing Diamond (DMD) to secure faster transactions.
- Master Nodes has two transaction options- Quick transaction (QuickTX) and Mixed transaction (MixTX).
- In a normal transaction, it takes up to 2.25 minutes to transfer and confirmation of payment whereas in Bitcoin it can take up to 10 minutes to transfer and verify the payment.
- In the mixed transaction, the original amount is converted into coin piles with the help of coin mixer tool which is already built in Diamond wallet. MixTX makes its difficult to find and trace the source address.
- However, to run Master Nodes the user must have a minimum balance of 10,000 Diamond (DMD) coins and should have a fixed IP.
- Diamond (DMD) being a very secure, valuable and scarce resource makes it an excellent alternative to all the other cryptocurrency investments that are available in the market. With its growing community and scare resources of only about 4.38 million DMD, it has been able to maintain buying pressure on the cryptocurrency trading market.
- Diamond operates on a Master node Technology along with superior security with a modern minting rate of 25 per cent.
#3 How to Buy and Store Diamond (DMD)
How to buy Diamond:
- In order to purchase Diamond (DMD), you first need to exchange and convert your cash into cryptocurrencies like Litecoin, Bitcoin or Ethereum and send it to a cryptocurrency trading platform where you can easily exchange and trade your LTC, BTC or ETH for Diamond (DMD).
- Current top three diamond (DMD) exchange platforms include Bittrex, Livecoin, CryptoBridge.
With Diamond (DMD) coins investment becoming the next big thing in the cryptocurrency market it is always better to have a full thorough lookout of the exchange market and this is where CoinSwitch comes in.
- Coinswitch compares price across platforms and provides you with a real-time data regarding the price of Diamond (DMD) is USD and also in standard crypto coin like Bitcoin.Besides 45,000 pairs of cryptocurrencies to compare from it also supports more than 300 coins. Choose any pair you want with your Diamond (DMD) coin and CoinSwitch will help you find the best suitable deal for you.
- What’s more - with CoinSwitch, you do not need to rely on DMD wallet from the exchange to store diamond cryptocurrency. Instead, all the related transactions can happen to and from your own exclusive personal wallet.
Diamond (DMD) Storage
- One can download wallet from official Diamond Coin website for the various operating system like Mac, Linux, Windows.
- One can also download Coinomi (Mobile wallet) which currently supports 100+ cryptocurrencies to store your Diamond (DMD) coins. Coinomi operates on Android and iOS system.
#4 What is the future of Diamond (DMD)
Also Read: Complete Analysis of Diamond | Live Diamond (DMD) Price Charts And Predictions
- The total supply for Diamond (DMD) being $4.38 million, on 18th June 2018 the market capitalization of Diamond (DMD) stood at $9.8 million with the value of per unit of DMD being $3.43.
- By the end of 2018, the Diamond (DMD) foundation aims to create a decentralized platform that would be controlled by Layer 2 network of DMD master nodes which would enable building Diamond Apps and services and by 2019, the foundation plans to open their gates for the 3rd party developers.
- Diamond (DMD) has also started working on their privacy and crypto security. In future DMD will feature a longer address programme which will make it difficult for the hackers to hack and breach private keys.
#5 How is Diamond (DMD) different from other cryptocurrencies:
- Diamond (DMD) is a fully decentralized cryptocurrency which runs on proof of Stake and Master Nodes making it one of the highly safe and secure coins in the market.
- Diamond (DMD) is not just a coin used for storage of wealth but can also be considered as a good source of passive income. The ongoing rate of return on PoS and Master Nodes is more than 20 percent making it an excellent investment option.
- Being scarce in nature makes diamond a highly valuable investment with a blooming future market.
- Diamond (DMD) is Ultra quick, efficient and highly ecological as compared to other cryptocurrencies in the market.
#6 Should we invest in Diamond (DMD)?
- The diamond community is a small yet dedicated team of members who constantly work towards the betterment of the coin which can clearly be seen in the 5 years of development of Diamond (DMD) coins with no issues related to any online scam.
- With increasing market demand and fixed constant volume of supply of DMD coins, it has become one of the highly valuable coins in the crypto market. With safe, quick and reliable features DMD is currently one of the best investment option which also provides a fairly good amount of annual returns for its users.