Is DMD better than Ethereum?
⠀
The Ethereum blockchain has been the leading dApp platform of the cryptocurrency market for many years. But over the past year when the price of ETH was rising strongly, users faced the problem of network congestion and high Gas fees. This was a good stimulus for the development of DeFi and the search for new solutions to increase the speed of transactions and reduce commissions on the blockchains.
⠀
Many developers, even those who used to work with Ethereum prefer alternative blockchains for deploying their dApps. Therefore, we are pleased to present DMDv4 – one of the most cost-effective alternatives. Here are a few reasons why our blockchain is better than Ethereum:
⠀
◼️ DMD Diamond uses the Honey Badger Byzantine Fault Tolerant (HBBFT) cooperative consensus in combination with the once-in-an-era validator selection technology. This ensures a higher level of decentralization.
⠀
◼️ DMDv4 is compatible with other blockchains. Any developer can transfer their project to DMD Diamond due to compatibility with EVM and support for the Solidity language.
⠀
◼️ Thanks to HBBFT, DMD reaches a throughput of at least 400 transactions per second, which is many times more than on Ethereum.
⠀
◼️ DMD is more energy-efficient. HBBFT requires a minimal amount of energy, while Ethereum's energy consumption indicators will be higher than DMD's even after switching from PoW to Pos.
⠀
Choose the improved blockchain bit.diamonds! Read more about us on Medium.
⠀
The Ethereum blockchain has been the leading dApp platform of the cryptocurrency market for many years. But over the past year when the price of ETH was rising strongly, users faced the problem of network congestion and high Gas fees. This was a good stimulus for the development of DeFi and the search for new solutions to increase the speed of transactions and reduce commissions on the blockchains.
⠀
Many developers, even those who used to work with Ethereum prefer alternative blockchains for deploying their dApps. Therefore, we are pleased to present DMDv4 – one of the most cost-effective alternatives. Here are a few reasons why our blockchain is better than Ethereum:
⠀
◼️ DMD Diamond uses the Honey Badger Byzantine Fault Tolerant (HBBFT) cooperative consensus in combination with the once-in-an-era validator selection technology. This ensures a higher level of decentralization.
⠀
◼️ DMDv4 is compatible with other blockchains. Any developer can transfer their project to DMD Diamond due to compatibility with EVM and support for the Solidity language.
⠀
◼️ Thanks to HBBFT, DMD reaches a throughput of at least 400 transactions per second, which is many times more than on Ethereum.
⠀
◼️ DMD is more energy-efficient. HBBFT requires a minimal amount of energy, while Ethereum's energy consumption indicators will be higher than DMD's even after switching from PoW to Pos.
⠀
Choose the improved blockchain bit.diamonds! Read more about us on Medium.
DMD coins issuance plan
⠀
The DMD coin is one of the oldest cryptocurrencies on the market. An important feature is that it retains its original emission model. Thanks to this mechanism, the token is five times more scarce than Bitcoin.
⠀
It is worth noting that DMD is one of those coins that has not just survived but has also grown significantly since the creation of all blockchain platforms at an early stage of development (2013), and the coin holders still trade and actively support it.
⠀
DMD does not issue coins based on the algorithm. All coins are created with the initiation of the blockchain and distributed among the holders of DMD coins on an individual basis. The final supply of coins is 4,380,000 tokens. The issue of tokens looks like this:
⠀
DMDv1 & DMDv2: July 13, 2013 – August 2017
DMDv3 Phase1: September 2017 – February 2018
DMDv3 Phase2: March 2018 – August 2020
DMDv3 Phase3: September 2020
DMDv4: release 2021
⠀
The DMDv4 reward logic will recreate a similar curve for roll out undistributed coins and add on top a unique coin reinsert logic that allows for endless rewards even with a small finite supply.
⠀
DMD is one of the oldest coins on the cryptocurrency market, which is still supported by the developer and has an issue model based on an unusual distribution algorithm.
⠀
Learn more about the DMD coin on the website https://bit.diamonds/
⠀
The DMD coin is one of the oldest cryptocurrencies on the market. An important feature is that it retains its original emission model. Thanks to this mechanism, the token is five times more scarce than Bitcoin.
⠀
It is worth noting that DMD is one of those coins that has not just survived but has also grown significantly since the creation of all blockchain platforms at an early stage of development (2013), and the coin holders still trade and actively support it.
⠀
DMD does not issue coins based on the algorithm. All coins are created with the initiation of the blockchain and distributed among the holders of DMD coins on an individual basis. The final supply of coins is 4,380,000 tokens. The issue of tokens looks like this:
⠀
DMDv1 & DMDv2: July 13, 2013 – August 2017
DMDv3 Phase1: September 2017 – February 2018
DMDv3 Phase2: March 2018 – August 2020
DMDv3 Phase3: September 2020
DMDv4: release 2021
⠀
The DMDv4 reward logic will recreate a similar curve for roll out undistributed coins and add on top a unique coin reinsert logic that allows for endless rewards even with a small finite supply.
⠀
DMD is one of the oldest coins on the cryptocurrency market, which is still supported by the developer and has an issue model based on an unusual distribution algorithm.
⠀
Learn more about the DMD coin on the website https://bit.diamonds/
Difference between DMDv3 and DMDv4
⠀
This year, the DMD Diamond platform has changed the block confirmation system from DMDv3 to DMDv4, which has allowed us to reach a new level of development. But many new users know what the key difference is because at first glance it is obvious that both consensus algorithms are based on the PoS mechanism.
⠀
PoS is a "new mining" and allows you to create new blocks in a faster, cheaper and less energy-consuming way (more environmentally friendly). But even in this system, there were disadvantages that needed improvement.
⠀
The main differences between DMDv3 and DMDv4:
⠀
◼️ Along with the transition to DMDv4, the Diamond platform switched to an EVM compatible codebase, which allows supporting smart contracts, is fully compatible with Ethereum and EVM.
⠀
◼️ The DMDv4 system has a higher throughput than DMDv3, which reaches at least 400 transactions per second (we expect more in further optimisations).
⠀
◼️ In DMDv3, we used the PoS/Masternode consensus. In DMDv4, we implement the world’s first asynchronous HoneyBadger BFT consensus on a smart contract, blocks are created in a cooperative instead of competitive way. All active validators can contribute transactions and create the block together, which makes a consensus without a leader. So, we increase the level of decentralization even more by add on top a dPoS like a node election mechanism.
⠀
Thus, the transition to DMDv4 turned out to be more effective for the operation of the DMD Diamond blockchain. Nevertheless, we continue our development, developing new and improved solutions for our network.
⠀
Stay tuned for future updates of bit.diamonds, and join our DMD DAO!
⠀
This year, the DMD Diamond platform has changed the block confirmation system from DMDv3 to DMDv4, which has allowed us to reach a new level of development. But many new users know what the key difference is because at first glance it is obvious that both consensus algorithms are based on the PoS mechanism.
⠀
PoS is a "new mining" and allows you to create new blocks in a faster, cheaper and less energy-consuming way (more environmentally friendly). But even in this system, there were disadvantages that needed improvement.
⠀
The main differences between DMDv3 and DMDv4:
⠀
◼️ Along with the transition to DMDv4, the Diamond platform switched to an EVM compatible codebase, which allows supporting smart contracts, is fully compatible with Ethereum and EVM.
⠀
◼️ The DMDv4 system has a higher throughput than DMDv3, which reaches at least 400 transactions per second (we expect more in further optimisations).
⠀
◼️ In DMDv3, we used the PoS/Masternode consensus. In DMDv4, we implement the world’s first asynchronous HoneyBadger BFT consensus on a smart contract, blocks are created in a cooperative instead of competitive way. All active validators can contribute transactions and create the block together, which makes a consensus without a leader. So, we increase the level of decentralization even more by add on top a dPoS like a node election mechanism.
⠀
Thus, the transition to DMDv4 turned out to be more effective for the operation of the DMD Diamond blockchain. Nevertheless, we continue our development, developing new and improved solutions for our network.
⠀
Stay tuned for future updates of bit.diamonds, and join our DMD DAO!
How many coins do you need to run a node on the DMD blockchain?
Anonymous Poll
19%
5,000 DMD
58%
10,000 DMD
12%
More than 15,000 DMD
12%
You don’t need DMD coins
DMD Network initiation: how it works
⠀
DMDv4 network is a new independent blockchain that shares not a single code line and uses a totally different and far advanced codebase than DMDv3 did.
⠀
All the differences and the few industry’s first solutions that are a part of DMDv4 are well described in the White Paper. DMDv4 follows the vision of an involving DMD Diamond ecosystem that is technology agnostic using the best technology available and transform value towards the new technology.
⠀
In the case of DMDv4, the value transfer happens by making sure the coin economic setup starts with exactly the same number of unlocked coins as there are existing on the old DMDv3 chain at snapshot. And each owner of a DMDv3 snapshot balance will be able to claim his coin balance 1:1 on the new v4 chain in the first 3 months after the mainnet launch.
⠀
The percentage of coins that can be claimed will be decreasing over time and the claiming time window will end after 5 years. Not or late claimed coins will not be hard burned but instead soft burned and fuel the sustainable neverending coin circulation which is one of the major improvements of DMD that will be described in our articles in more detail soon.
⠀
Let’s discuss how the DMD network is initiated in more detail.
When DMDv4 is released, all smart contracts are initiated in the genesis block (the first block of the network), along with the information about the bootstrap validators. First few days the network runs in a semi-closed environment slowly, allowing the longterm community members to join in and set up their validators. Once a healthy amount is reached, the network opens up and becomes a true open decentralized blockchain network.
⠀
Initiating validators don’t have a currency advantage, as the reward itself is reduced for the startup phase.
⠀
So, validators act as the main tools for the operation of DMD Diamond and ensure the smooth running of the entire network.
⠀
Join the bit.diamonds network and build a new ecosystem with us!
⠀
DMDv4 network is a new independent blockchain that shares not a single code line and uses a totally different and far advanced codebase than DMDv3 did.
⠀
All the differences and the few industry’s first solutions that are a part of DMDv4 are well described in the White Paper. DMDv4 follows the vision of an involving DMD Diamond ecosystem that is technology agnostic using the best technology available and transform value towards the new technology.
⠀
In the case of DMDv4, the value transfer happens by making sure the coin economic setup starts with exactly the same number of unlocked coins as there are existing on the old DMDv3 chain at snapshot. And each owner of a DMDv3 snapshot balance will be able to claim his coin balance 1:1 on the new v4 chain in the first 3 months after the mainnet launch.
⠀
The percentage of coins that can be claimed will be decreasing over time and the claiming time window will end after 5 years. Not or late claimed coins will not be hard burned but instead soft burned and fuel the sustainable neverending coin circulation which is one of the major improvements of DMD that will be described in our articles in more detail soon.
⠀
Let’s discuss how the DMD network is initiated in more detail.
When DMDv4 is released, all smart contracts are initiated in the genesis block (the first block of the network), along with the information about the bootstrap validators. First few days the network runs in a semi-closed environment slowly, allowing the longterm community members to join in and set up their validators. Once a healthy amount is reached, the network opens up and becomes a true open decentralized blockchain network.
⠀
Initiating validators don’t have a currency advantage, as the reward itself is reduced for the startup phase.
⠀
So, validators act as the main tools for the operation of DMD Diamond and ensure the smooth running of the entire network.
⠀
Join the bit.diamonds network and build a new ecosystem with us!
Rotation of validators on DMDv4
⠀
The block approval process looks like a list of transactions proposed by the current validators. They jointly confirm the block using signatures.
⠀
By generating random numbers, the HBBFT consensus includes a mechanism for selecting validators, while using a secure mechanism for generating a random validator. It ensures that each of them will be chosen fairly.
⠀
A good side effect is that other blockchain applications that need true randomness can use such RNG numbers, without their own RNG mechanism.
⠀
The implementation of this algorithm (HBBFT) requires a small number of validator nodes, but with a constant and reliable connection between each node. DMDv4 will use 25 nodes in the active set, and they will change every epoch (the epoch is equal to 12 hours).
⠀
So, thanks to random generation and constant rotation of validators, DMDv4 receives a secure and reliable decentralized algorithm that selects validators.
⠀
Read more about the selecting validators mechanism at https://bit.diamonds/.
⠀
The block approval process looks like a list of transactions proposed by the current validators. They jointly confirm the block using signatures.
⠀
By generating random numbers, the HBBFT consensus includes a mechanism for selecting validators, while using a secure mechanism for generating a random validator. It ensures that each of them will be chosen fairly.
⠀
A good side effect is that other blockchain applications that need true randomness can use such RNG numbers, without their own RNG mechanism.
⠀
The implementation of this algorithm (HBBFT) requires a small number of validator nodes, but with a constant and reliable connection between each node. DMDv4 will use 25 nodes in the active set, and they will change every epoch (the epoch is equal to 12 hours).
⠀
So, thanks to random generation and constant rotation of validators, DMDv4 receives a secure and reliable decentralized algorithm that selects validators.
⠀
Read more about the selecting validators mechanism at https://bit.diamonds/.
Why a high level of decentralization is importaint?
⠀
The traditional financial market is centralized, which means that there is a single management center, a central bank or a state. This entails a number of negative consequences for its participants. If the control center fails, it affects the entire system, and thus investors can lose their investments.
⠀
But since the advent of blockchain technologies, everything has changed. Blockchain has created a new decentralized financial system where every investor has the right to vote and remain independent. This provides a certain level of protection for each participant.
⠀
The DMD Diamond platform wants to achieve the maximum level of decentralization, and creates an improved blockchain, where each participant freely manages their finances and participates in the development of the project.
⠀
DMDv4 uses Honey Badger Byzantine Fault Tolerant, an asynchronous consensus model without a leader. We also add a dPoS like node election consensus (PoSDAO). In the upcoming 4.1 upgrade, we will have a true DAO that will manage development, and project support funding requests will be added too. This combination increases the level of network decentralization, where:
⠀
◼️ there is a random selection of validators every 12 hours;
◼️ awards are distributed between the validator and its delegates;
◼️ equal distribution of remuneration for large and small validators;
◼️ each user affects the decentralization;
◼️ the staking limit per validator is no more than 50,000 tokens.
⠀
In the last analysis, the DMD Diamond user gets a free and reliable financial system, where each participant can not be afraid of losing funds due to incorrect actions of the management body.
⠀
Join one of the most decentralized blockchains bit.diamonds!
⠀
The traditional financial market is centralized, which means that there is a single management center, a central bank or a state. This entails a number of negative consequences for its participants. If the control center fails, it affects the entire system, and thus investors can lose their investments.
⠀
But since the advent of blockchain technologies, everything has changed. Blockchain has created a new decentralized financial system where every investor has the right to vote and remain independent. This provides a certain level of protection for each participant.
⠀
The DMD Diamond platform wants to achieve the maximum level of decentralization, and creates an improved blockchain, where each participant freely manages their finances and participates in the development of the project.
⠀
DMDv4 uses Honey Badger Byzantine Fault Tolerant, an asynchronous consensus model without a leader. We also add a dPoS like node election consensus (PoSDAO). In the upcoming 4.1 upgrade, we will have a true DAO that will manage development, and project support funding requests will be added too. This combination increases the level of network decentralization, where:
⠀
◼️ there is a random selection of validators every 12 hours;
◼️ awards are distributed between the validator and its delegates;
◼️ equal distribution of remuneration for large and small validators;
◼️ each user affects the decentralization;
◼️ the staking limit per validator is no more than 50,000 tokens.
⠀
In the last analysis, the DMD Diamond user gets a free and reliable financial system, where each participant can not be afraid of losing funds due to incorrect actions of the management body.
⠀
Join one of the most decentralized blockchains bit.diamonds!
DMD holders: benefits for investors
⠀
The DMD Diamond team invests all its professionalism and many years of experience in the field of blockchain in creating a new and improved ecosystem for crypto users. We strive to develop together with the market and be one step ahead of our competitors, constantly attracting new network members.
⠀
But global goals are not the only thing we want to achieve. It is also important for us to create favorable conditions for our participants starting from high rewards and ending with participation in the management of DMD Diamond.
⠀
What advantages does a user who buys DMD tokens and becomes a member of the network get?
⠀
◼️ Get rewards on staking.
◼️ Become a validator and earn DMD.
◼️ Participate in the management of the platform.
◼️ Make high-speed transactions.
◼️ Deploy your Dapps simply and on the best terms.
⠀
We believe that much can be achieved through joint efforts! By participating in DMD Diamond, you not only get a constant income but also help us raise the cryptocurrency market to a new level.
⠀
Read more about DMD Diamond on Medium!
⠀
The DMD Diamond team invests all its professionalism and many years of experience in the field of blockchain in creating a new and improved ecosystem for crypto users. We strive to develop together with the market and be one step ahead of our competitors, constantly attracting new network members.
⠀
But global goals are not the only thing we want to achieve. It is also important for us to create favorable conditions for our participants starting from high rewards and ending with participation in the management of DMD Diamond.
⠀
What advantages does a user who buys DMD tokens and becomes a member of the network get?
⠀
◼️ Get rewards on staking.
◼️ Become a validator and earn DMD.
◼️ Participate in the management of the platform.
◼️ Make high-speed transactions.
◼️ Deploy your Dapps simply and on the best terms.
⠀
We believe that much can be achieved through joint efforts! By participating in DMD Diamond, you not only get a constant income but also help us raise the cryptocurrency market to a new level.
⠀
Read more about DMD Diamond on Medium!
Evolution of mining systems and DMD's place in it
⠀
This year, thanks to Elon Musk, we have moved into a new era of so-called “ecological mining”. If we recall how a few years ago the idea of mining BTC seemed to be a technological advance, now PoW is a step back.
⠀
After many years of expensive mining, crypto enthusiasts began searching for a replacement for PoW with a more efficient and simple consensus algorithm. So in 2012, PoS appeared, which was presented on the PPCoin cryptocurrency. DMD Diamond did not lag behind the entire crypto market and also changed the hybrid POW / POS mechanism to PoS.
⠀
Each user received rewards according to the share of his ownership, but this is far from the level of decentralization that we would like to achieve. Therefore, we have taken an important step and switched from a competitive consensus to a cooperative one.
⠀
DMDv4 combined HBBFT (Byzantine Fault-Tolerant Honey Badger Consensus) and DPoS provided high network throughput and reliability. In DMDv4, there is no competition between validators, because the reward is distributed equally between them.
⠀
Thus, DMD managed to become one of the fastest and most decentralized blockchains on the market in 7 years.
⠀
Develop together with the bit.diamonds team!
⠀
This year, thanks to Elon Musk, we have moved into a new era of so-called “ecological mining”. If we recall how a few years ago the idea of mining BTC seemed to be a technological advance, now PoW is a step back.
⠀
After many years of expensive mining, crypto enthusiasts began searching for a replacement for PoW with a more efficient and simple consensus algorithm. So in 2012, PoS appeared, which was presented on the PPCoin cryptocurrency. DMD Diamond did not lag behind the entire crypto market and also changed the hybrid POW / POS mechanism to PoS.
⠀
Each user received rewards according to the share of his ownership, but this is far from the level of decentralization that we would like to achieve. Therefore, we have taken an important step and switched from a competitive consensus to a cooperative one.
⠀
DMDv4 combined HBBFT (Byzantine Fault-Tolerant Honey Badger Consensus) and DPoS provided high network throughput and reliability. In DMDv4, there is no competition between validators, because the reward is distributed equally between them.
⠀
Thus, DMD managed to become one of the fastest and most decentralized blockchains on the market in 7 years.
⠀
Develop together with the bit.diamonds team!
Why is DMD rewarding?
⠀
Profitability is one of the most important user criteria in choosing a project. But the DeFi market is progressing, the needs of users are changing, which means that the requirements for platforms are also changing.
⠀
Participants are increasingly paying attention to the purpose of the project, whether it harms the environment, what it contributes to the overall development of the blockchain or the financial system. We want to tell you exactly how DMD Diamond is useful for participant, the market, as well as for the whole world.
⠀
◼️ For the participant. If you become a validator and a DMD Diamond staker, a participant can get high passive rewards. DMDv4 also has a clever system of vaults, or “pots”, which returns lost tokens to circulation.
⠀
◼️ For the market. The DMD Diamond project uses the HBBFT cooperative protocol and the DPoS protocol to confirm transactions, increasing the level of decentralization of the entire DeFi market.
⠀
◼️ For the whole world. While PoW projects are switching to renewable energy sources to reduce CO2 emissions, DMD Diamond has completely abandoned PoW and switched to the HBBFT consensus algorithm, which is energy-intensive and does not affect the environment in any way.
⠀
DMD Diamond improves everything with which it interacts.
⠀
Get maximum benefit with bit.diamonds!
⠀
Profitability is one of the most important user criteria in choosing a project. But the DeFi market is progressing, the needs of users are changing, which means that the requirements for platforms are also changing.
⠀
Participants are increasingly paying attention to the purpose of the project, whether it harms the environment, what it contributes to the overall development of the blockchain or the financial system. We want to tell you exactly how DMD Diamond is useful for participant, the market, as well as for the whole world.
⠀
◼️ For the participant. If you become a validator and a DMD Diamond staker, a participant can get high passive rewards. DMDv4 also has a clever system of vaults, or “pots”, which returns lost tokens to circulation.
⠀
◼️ For the market. The DMD Diamond project uses the HBBFT cooperative protocol and the DPoS protocol to confirm transactions, increasing the level of decentralization of the entire DeFi market.
⠀
◼️ For the whole world. While PoW projects are switching to renewable energy sources to reduce CO2 emissions, DMD Diamond has completely abandoned PoW and switched to the HBBFT consensus algorithm, which is energy-intensive and does not affect the environment in any way.
⠀
DMD Diamond improves everything with which it interacts.
⠀
Get maximum benefit with bit.diamonds!
The oldest projects in crypto and their fate
⠀
The blockchain market becomes more and more popular and it is filled with various crypto projects, many of which, unfortunately, simply disappear over time. What is the reason?
⠀
The work of the DMD Diamond project began in 2013 and continues to this day. Surprisingly, according to statistical sites, more than 80 projects created in the same year died after 2-3 years.
⠀
As it turned out, many projects were simply “abandoned” by their owners, and the trading volume gradually decreased to zero. Although there were also those who were able to increase the market capitalization to millions, they did not break out into the leaders.
⠀
Long-distance competitions are the best indicator of the success of the project. For example, the Quark cryptocurrency began its journey in 2013, like DMD Diamond, but today its market capitalization is 2 times less.
⠀
Yes, there are such powerful projects as Bitcoin and Litecoin, which started their journey a little earlier and became leaders. But even now, despite their popularity, they have a number of problems.
⠀
The key to the success of the DMD Diamond platform is that we keep up with the crypto market and offer the best conditions to our investors. For 8 years, we have achieved huge results and do not stop there!
⠀
Become a part of bit.diamonds and share the success with us!
⠀
The blockchain market becomes more and more popular and it is filled with various crypto projects, many of which, unfortunately, simply disappear over time. What is the reason?
⠀
The work of the DMD Diamond project began in 2013 and continues to this day. Surprisingly, according to statistical sites, more than 80 projects created in the same year died after 2-3 years.
⠀
As it turned out, many projects were simply “abandoned” by their owners, and the trading volume gradually decreased to zero. Although there were also those who were able to increase the market capitalization to millions, they did not break out into the leaders.
⠀
Long-distance competitions are the best indicator of the success of the project. For example, the Quark cryptocurrency began its journey in 2013, like DMD Diamond, but today its market capitalization is 2 times less.
⠀
Yes, there are such powerful projects as Bitcoin and Litecoin, which started their journey a little earlier and became leaders. But even now, despite their popularity, they have a number of problems.
⠀
The key to the success of the DMD Diamond platform is that we keep up with the crypto market and offer the best conditions to our investors. For 8 years, we have achieved huge results and do not stop there!
⠀
Become a part of bit.diamonds and share the success with us!
HDD mining VS DMD Consensus
⠀
The DMD project uses its own consensus algorithm — Honey Badger Byzantine Fault Tolerant. The scientific paper it is based on was written in 2016 and its goal was to solve the following issues:
⠀
— Slow transactions
— Difficulties associated with the synchronization of blocks in a large network.
⠀
Recently, an algorithm called Proof-of-Space has been gaining popularity. For mining, you need to use a HDD and no calculations are required, only free disk space.
⠀
What is the advantage of the DMD solution against HDD mining?
⠀
🔹 Increased reliability. HDDs after a certain number of write-rewrite cycles quickly fail, while HBBFT does not have such a problem.
⠀
🔹 A cooperative HBBFT consensus makes sure a unintended fork can never happen. A competive consensus by design includes many micro forks and mechanisms to try to reorganize and unify back to avoid a chain split.
⠀
🔹 Instant finality of the transaction. You don't have to wait for multiple confirmations.
⠀
🔹 HBBFT is a industry first feature that no other EVM able blockchain implemented until yet
⠀
🔹 Detection and elimination of malicious nodes.
⠀
🔹 The possibility of implementing a dynamic block time, while with Proof-of-Space it is much more difficult to do this.
⠀
Therefore, DMD uses the Honey Badger Byzantine Fault Tolerant consensus algorithm, which surpasses its competitor for HDD mining in reliability, speed and security.
⠀
The DMD project uses its own consensus algorithm — Honey Badger Byzantine Fault Tolerant. The scientific paper it is based on was written in 2016 and its goal was to solve the following issues:
⠀
— Slow transactions
— Difficulties associated with the synchronization of blocks in a large network.
⠀
Recently, an algorithm called Proof-of-Space has been gaining popularity. For mining, you need to use a HDD and no calculations are required, only free disk space.
⠀
What is the advantage of the DMD solution against HDD mining?
⠀
🔹 Increased reliability. HDDs after a certain number of write-rewrite cycles quickly fail, while HBBFT does not have such a problem.
⠀
🔹 A cooperative HBBFT consensus makes sure a unintended fork can never happen. A competive consensus by design includes many micro forks and mechanisms to try to reorganize and unify back to avoid a chain split.
⠀
🔹 Instant finality of the transaction. You don't have to wait for multiple confirmations.
⠀
🔹 HBBFT is a industry first feature that no other EVM able blockchain implemented until yet
⠀
🔹 Detection and elimination of malicious nodes.
⠀
🔹 The possibility of implementing a dynamic block time, while with Proof-of-Space it is much more difficult to do this.
⠀
Therefore, DMD uses the Honey Badger Byzantine Fault Tolerant consensus algorithm, which surpasses its competitor for HDD mining in reliability, speed and security.
What was the first consensus algorithm we used on DMD?
Anonymous Poll
23%
Proof-of-Stake
59%
Proof-of-Work
3%
Proof-of-Space & Time
15%
Honey Badger Byzantine Fault Tolerant
The main benefits of decentralization and how we get it 🔩
⠀
Decentralization is one of the main features of cryptocurrencies. But let’s take a closer look at its advantages in terms of functionality.
⠀
First of all, decentralization gives an important feature — a coin or a project can have a creator, but, de facto, the community controls the platform. If for some reason the community does not like the way the project is developing, the project enthusiasts can easily create their own fork and continue the development of the ecosystem according to their own rules.
⠀
This implies the following point – security. Decentralized solutions are more secure than their centralized counterparts. In centralized solutions, many people can turn a blind eye to small bugs and holes that may never pop up. Decentralized solutions are usually open-source, therefore, they are worked out more carefully and any problems are solved as quickly as possible.
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In addition to information security, there is also financial security. If no one controls the coin, it is much harder to carry out fraud with it. For example, no one forbids the state to disperse the printing press and collapse the currency. In the case of cryptocurrencies, it is impossible to do this.
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How we achieve decentralization
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The DMD Diamond platform wants to provide the maximum level of decentralization and creates an improved blockchain, where each user freely manages their assets and participates in the development of the project.
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DMD Diamond is an open system controlled by its participants, each participant can not be afraid of losing funds due to incorrect actions of the management body because he is a part of the management body. Securing the blockchain and deciding about future development funding — all happens by the network participants and the coin owners. There is no out of blockchain company or organisation who rules DMD Diamond.
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Learn more: https://bit.diamonds
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Decentralization is one of the main features of cryptocurrencies. But let’s take a closer look at its advantages in terms of functionality.
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First of all, decentralization gives an important feature — a coin or a project can have a creator, but, de facto, the community controls the platform. If for some reason the community does not like the way the project is developing, the project enthusiasts can easily create their own fork and continue the development of the ecosystem according to their own rules.
⠀
This implies the following point – security. Decentralized solutions are more secure than their centralized counterparts. In centralized solutions, many people can turn a blind eye to small bugs and holes that may never pop up. Decentralized solutions are usually open-source, therefore, they are worked out more carefully and any problems are solved as quickly as possible.
⠀
In addition to information security, there is also financial security. If no one controls the coin, it is much harder to carry out fraud with it. For example, no one forbids the state to disperse the printing press and collapse the currency. In the case of cryptocurrencies, it is impossible to do this.
⠀
How we achieve decentralization
⠀
The DMD Diamond platform wants to provide the maximum level of decentralization and creates an improved blockchain, where each user freely manages their assets and participates in the development of the project.
⠀
DMD Diamond is an open system controlled by its participants, each participant can not be afraid of losing funds due to incorrect actions of the management body because he is a part of the management body. Securing the blockchain and deciding about future development funding — all happens by the network participants and the coin owners. There is no out of blockchain company or organisation who rules DMD Diamond.
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Learn more: https://bit.diamonds
DMD coin: historic evolution
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The DMD project has one important feature: several stages of coin development. How do they differ and what kind of coins are they?
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DMDv1 and DMDv2. These are coins that were active from July 2013 to August 2017. They worked on a mixed PoW/PoS algorithm and provided network security. About half of all coins sold are v1 or v2.
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DMDv3. The launch of the third version was divided into three phases, each of which began using different blocks. After the launch of this version of the coin, there was a smaller reward for mining, by analogy with BTC halving.
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The DMDv3 time intervals are September 2017 to 2021. All v3 coins that will not have time to be found before the release of the fourth version will become v4 coins.
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DMDv4. The latest version of the protocol coins at the moment. The DMDv4 reward logic will recreate a similar curve for deploying unallocated coins and add re-insertion logic that allows you to receive infinite rewards even with small finite stock.
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Therefore, each of the versions of the coin represents a technological leap, which constituted over 8 years of impressive development of the project.
⠀
The DMD project has one important feature: several stages of coin development. How do they differ and what kind of coins are they?
⠀
DMDv1 and DMDv2. These are coins that were active from July 2013 to August 2017. They worked on a mixed PoW/PoS algorithm and provided network security. About half of all coins sold are v1 or v2.
⠀
DMDv3. The launch of the third version was divided into three phases, each of which began using different blocks. After the launch of this version of the coin, there was a smaller reward for mining, by analogy with BTC halving.
⠀
The DMDv3 time intervals are September 2017 to 2021. All v3 coins that will not have time to be found before the release of the fourth version will become v4 coins.
⠀
DMDv4. The latest version of the protocol coins at the moment. The DMDv4 reward logic will recreate a similar curve for deploying unallocated coins and add re-insertion logic that allows you to receive infinite rewards even with small finite stock.
⠀
Therefore, each of the versions of the coin represents a technological leap, which constituted over 8 years of impressive development of the project.
Is crypto mining dying or being reborn? ☁️
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Many users, after each cryptocurrency price correction, go on claiming that cryptocurrency mining is dying. These users have a number of opponents who claim that with each market leap, mining only gets better in each of its new iterations.
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Let’s see who is right.
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Most people understand mining to be classic Proof-of-Work mining in which you need to buy expensive equipment in the form of ASICs or a video card farm to earn money. It is a very large investment, and the payback of which is often questionable.
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However, does this make mining a dying industry?
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Of course not, because today you don’t need to buy tons of computing devices for mining. It is enough to buy the right coins and earn rewards using Proof-of-Stake mining.
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In many ways, for ordinary users who don’t get too technical about crypto, staking is similar to a deposit in a bank. Investors buy coins and block them on wallets, and after a while, they are given a percentage in the form of tokens.
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One of these coins is DMD, which works using its own modification of the Proof-of-Stake algorithm. Therefore, if you want to mine and not worry about investments, be sure to buy $DMD.
⠀
Many users, after each cryptocurrency price correction, go on claiming that cryptocurrency mining is dying. These users have a number of opponents who claim that with each market leap, mining only gets better in each of its new iterations.
⠀
Let’s see who is right.
⠀
Most people understand mining to be classic Proof-of-Work mining in which you need to buy expensive equipment in the form of ASICs or a video card farm to earn money. It is a very large investment, and the payback of which is often questionable.
⠀
However, does this make mining a dying industry?
⠀
Of course not, because today you don’t need to buy tons of computing devices for mining. It is enough to buy the right coins and earn rewards using Proof-of-Stake mining.
⠀
In many ways, for ordinary users who don’t get too technical about crypto, staking is similar to a deposit in a bank. Investors buy coins and block them on wallets, and after a while, they are given a percentage in the form of tokens.
⠀
One of these coins is DMD, which works using its own modification of the Proof-of-Stake algorithm. Therefore, if you want to mine and not worry about investments, be sure to buy $DMD.
The achievements of the DMD Diamond platform
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DMD Diamond is one of the oldest blockchain projects that still continues to exist and is being actively updated. Over its long history of 8 years, the platform has accumulated a number of achievements that can be boasted of.
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— Transition from a hybrid PoW/PoS algorithm to in-house development of HBBFT.
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— Listings on both decentralized and centralized exchanges.
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— Introduction of the functionality to deploy your own masternodes.
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— The transition from the DMDv1 token to the DMDv4 token.
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— In addition to classic staking on their own node, users have “delegated” staking without the need to run their own always online node.
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— Transition from the classical decision-making system to the DAO.
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— Enabling users to run their own business using smart contracts.
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And this is only a small part of all the platform’s achievements.
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You can learn more on our website: https://bit.diamonds/
⠀
DMD Diamond is one of the oldest blockchain projects that still continues to exist and is being actively updated. Over its long history of 8 years, the platform has accumulated a number of achievements that can be boasted of.
⠀
— Transition from a hybrid PoW/PoS algorithm to in-house development of HBBFT.
⠀
— Listings on both decentralized and centralized exchanges.
⠀
— Introduction of the functionality to deploy your own masternodes.
⠀
— The transition from the DMDv1 token to the DMDv4 token.
⠀
— In addition to classic staking on their own node, users have “delegated” staking without the need to run their own always online node.
⠀
— Transition from the classical decision-making system to the DAO.
⠀
— Enabling users to run their own business using smart contracts.
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And this is only a small part of all the platform’s achievements.
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You can learn more on our website: https://bit.diamonds/
DMD Diamond: benefits for stakers 💪🏻
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Many stakeholders often wonder what benefits they get from keeping their coins on the balance sheet.
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One of the most important benefits that DMD Diamond stakeholders get is a continuously working network (thanks to their efforts).
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Users who hold funds not only receive rewards for delegating their staking power on top of validator candidates, but also help find new blocks, which has a positive effect on the speed and stability of the network.
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In addition, the stakeholders directly help the platform to become even more secure. Therefore, the stakeholders of the DMD Diamond platform also receive a benefit in the form of a stable and reliable platform that they can use, for example, for their business.
⠀
Many stakeholders often wonder what benefits they get from keeping their coins on the balance sheet.
⠀
One of the most important benefits that DMD Diamond stakeholders get is a continuously working network (thanks to their efforts).
⠀
Users who hold funds not only receive rewards for delegating their staking power on top of validator candidates, but also help find new blocks, which has a positive effect on the speed and stability of the network.
⠀
In addition, the stakeholders directly help the platform to become even more secure. Therefore, the stakeholders of the DMD Diamond platform also receive a benefit in the form of a stable and reliable platform that they can use, for example, for their business.
How many DMD can be staked on a single validator? ⛓
Anonymous Poll
22%
5,000 DMD
57%
10,000 DMD
3%
25,000 DMD
19%
50,000 DMD
Is blockchain speed important in 2021? 💻
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In 2021, the speed of blockchains, it would seem, is no longer as important as 5-6 years ago. Is this really the case?
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Contrary to popular belief, the speed/capacity of a blockchain is still one of its most important characteristics. It directly depends on how much users pay for transactions.
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This was perfectly demonstrated by Ethereum in 2020. The network was not designed for high loads as a result of which mining pools seized power over commissions, bringing them to an absurd level of $200.
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At the same time, such blockchains as DMD do not have such a problem and will never face it.
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Why?
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The DMD has a high block speed, and thanks to HBBFT, blocks can be formed almost instantly. Therefore, when the network enjoys incredible popularity around the world, it will still not be possible to make the commissions at least somewhat formidable.
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The speed of the blockchain is still one of its most important indicators. If you choose a platform with which you’ll pay or conduct business, DMD is the best option!
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But DMD Diamond v4 not only has incredible speed and instant final blocks, but its blocks also have a possible capacity that is way above anything known from Ethereum. Ethereum blockgaslimit is around 12.5 million gas these days but DMD v4 can create blocks with up to 1000 million gas used inside one block!
⠀
In 2021, the speed of blockchains, it would seem, is no longer as important as 5-6 years ago. Is this really the case?
⠀
Contrary to popular belief, the speed/capacity of a blockchain is still one of its most important characteristics. It directly depends on how much users pay for transactions.
⠀
This was perfectly demonstrated by Ethereum in 2020. The network was not designed for high loads as a result of which mining pools seized power over commissions, bringing them to an absurd level of $200.
⠀
At the same time, such blockchains as DMD do not have such a problem and will never face it.
⠀
Why?
⠀
The DMD has a high block speed, and thanks to HBBFT, blocks can be formed almost instantly. Therefore, when the network enjoys incredible popularity around the world, it will still not be possible to make the commissions at least somewhat formidable.
⠀
The speed of the blockchain is still one of its most important indicators. If you choose a platform with which you’ll pay or conduct business, DMD is the best option!
⠀
But DMD Diamond v4 not only has incredible speed and instant final blocks, but its blocks also have a possible capacity that is way above anything known from Ethereum. Ethereum blockgaslimit is around 12.5 million gas these days but DMD v4 can create blocks with up to 1000 million gas used inside one block!
