The Merkle

Diamonds Are for Blockchain – An Alternative Wealth Storage Solution

Diamonds are forever. They are the most concentrated form of pure carbon and the strongest mineral on Earth. This is why they remain highly sought and invaluable.

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Created in 2009, the blockchain is the most secure ledger system in the world facilitating immutable data storage on a decentralized system. Assets on the blockchain are created through a cryptographic process known as mining. Mining rewards miners with blockchain-based assets for every minable “block” they solve. This feature is what differentiates cryptocurrency mining from their traditional counterpart, creating a new wealth system for all involved.

Combining invaluability and scarcity of diamonds with the immutability and wealth creation system of the blockchain, DMD Diamond was created in June 2013.

DMD Diamond is a cryptocurrency that allows users to send money anywhere in the world instantly, securely and at near zero cost. The coin focuses on creating a multi-entry, high rewards monetary system that has been designed to facilitate financial freedom through blockchain technology. By limiting the total coin supply and emission rate, DMD Diamond coin provides an interest bearing asset with hi­gh annual interest rate.

Being one of the oldest cryptocurrency created on the market, DMD Diamond has undergone several revisions and improvements. Despite this, it has never changed its’ core values of being a non-government controlled digital currency for secured wealth creation supported by network protocols, infrastructure and services of the Blockchain.

Reduction of money supply is a countermeasure to inflationary devaluation. The scarcer the supply, the higher the demand and price growth. This philosophy is the reason why there will be only 4,38 million Coins in existence. These coins will be created over the course of many decades, making it one of the most scarce electronic commodities. 2.5 million coins have been mined since the creation of the first block 4.5 years ago.

Block rewards are smoothly being reduced without abruptly halving early adopters reward. This reduction will see the interest rate of DMD Diamond gradually fall over the next 10 years from the current 25% to 1%, signaling the end of easily obtainable DMD Diamond coins.

Despite its’ Scarcity, which is almost five times fewer total coin supply compared to Bitcoin, DMD Diamond is easily obtained and profited from through its Proof-of-Stake 3.0 and a state-of-the-art consensus protocol. This ensures which a high degree of security, stability and efficiency on the network by eliminating several attack vectors including Blockchain precomputation. Proof-of-Stake approach not only dramatically reduces carbon footprint but also dramatically lowers electricity consumption making it environmentally friendly.

DMD Diamond is pleased to introduced the Masternode integration with the most recent network update. This Layer 2 protocol provides additional services to the network by introducing swift and improved anonymity features to transactions on the platform. It also provides an increased compensation of 65% for every reward block. 10000 DMD are required to start or join a shared Masternodes program which  guarantees regular and frequent payouts for every Masternode connected to the network.

Currently, 50% of all coins have are now locked in Masternode and off the speculative markets, proving there is huge demand for these services. The update also placed DMD Diamond coin among the prestigious SegWit enabled cryptocurrencies.

The upgrading of DMD Diamond consensus mechanism to Proof-of-Stake is not the end for miners who wish to continue to use their equipment to mine the coin. Mining is still available through Diamond Multipool where hash power provided to NiceHash are automatically converted to DMD coins.

Over the years, DMD Diamond has demonstrated a spectacular ability to simultaneously hold value and grown, reaching a growth of 4500% in a year that saw Bitcoin grow by just 600% in comparison. The network also has a proven and scandal free track record with no pre-mining incident, ICO scandal, or scam accusations.

DMD Diamond Foundation will continue submitting core code improvements and further with the program of co-financing community based projects.

You can read more about DMD Diamond on the website https://bit.diamonds/