DMD Diamond is a digital currency that aims to serve as an alternative storage of wealth and provide opportunities to grow it. The three word credo ‘Scarce, Valuable, Secure’ tells what this project focuses the most on. Having a hard limit on the number of coins, 4.38 million in total, which won’t be fully mined for over 30 years makes it one of the scarcest cryptocurrency out there. Furthermore, DMD Diamond by its design principles is intended to lead to monetary deflation where more coins are taken out of circulation than the protocol produces each year. In the long run such measures will make DMD even scarcer and bring many other benefits in areas of security and efficiency. This would ultimately lead to an increase in value of this sparkling gem.
Holding DMD for a long time and waiting for the price to appreciate is certainly one of the ways to earn with Diamond, however, those who hold coins and participate in securing the network are generously rewarded by the Proof of Stake 3.0 protocol. By actively supporting the network, one can currently earn over 20% per year on their investment. Returns are dynamic and depend on network competition; however, with optimal participation the rewards are plentiful. Yet, this is not the only option available to earn passively by holding DMD.
Those who make a substantial investment and hold 10 000 DMD or use 3rd party services like Shared Masternodes, can participate in the Diamond Masternode program where a network of computers provide additional services on top of DMD Diamond blockchain. Scarcity of Diamond puts soft limits on the number of Masternodes while the dynamic nature of rewarding prevents one protocol being dominant over the other.
On average the rewards of Layer 2 network of DMD Diamond are higher than of Proof of Stake. Masternodes are guaranteed 65% of a block reward that goes to a randomly chosen node. The fact that Diamond Masternode network is designed to be very focused and limited in numbers creates conditions where investors can expect to earn many times a day. This is in stark contrast with other Masternode offerings on the market where one has to wait for a week before being paid once.
With the transition to a thousand times more power efficient and eco-friendly state of the art Proof of Stake 3.0 protocol, direct Proof of Work mining is no longer supported. Abolition of resource intensive mining, apart from reduction of carbon footprint, reduces sell pressure on the market to cover running electricity costs. Nonetheless, those users who have mining equipment can still use Diamond Multipool where miners with the use of NiceHash can sell their computing power while their earnings are automatically converted to DMD.
Investors and those seeking to cash in their DMD earnings can trade DMD on Bittrex which in recent months became the world’s biggest alternative cryptocurrency exchange with high daily volume and one of the best security standards in the industry. Please note that holding coins elsewhere than your own private wallet deprives you of benefits of claiming Proof of Stake rewards.
Diamond’s third core value is Security. Over the years DMD Diamond has been continuously adapting to ever changing market and technological landscape. The upgrade to the latest Proof of Stake security algorithm added many benefits that protect the Diamond Network making the system fairer to those who actively participate in staking process. Also, one of the looming issues facing cryptocurrencies is the emergence of quantum computers which if used maliciously could negatively impact cryptocurrencies of today. DMD Diamond in collaboration with partner projects is working on better protection against such threats by employing upgraded cryptography. In the future DMD Diamond will feature longer address scheme which will make significantly harder for quantum computing to be effective in brut forcing private keys. Open source projects that share resources create excellent space for innovation and creation of valuable opportunities.
Diamond is a coin of innovation. It was the first coin which managed to change algorithms and keep legacy blockchain, staying true to its commitment to be a trustworthy and long term investment option to whoever wished to invest in ultra-scarce store of wealth. It also was the first coin that created market buy pressure through both Diamond Multipool and Diamond Cloud Mining services; this introduced stability into volatile market and increased value of the coin.
Recent software development creates solid foundations for future upgrades and a platform that is powered by the network of Diamond Masternodes.
At the moment Diamond Masternodes provide two sets of services – privateTX and quickTX. privateTX is a decentralised coin mixing service done on the protocol for those seeking to increase privacy of their transactions. While quickTX allows for instant 0 confirmation transactions which introduces greater dose of certainty and provides an additional layer of security to merchants and customers. Even though DMD Diamond does not specifically target payments sector it is well equipped to be used in commercial applications. Moreover, in the coming months DMD will become integrated into the CoinPayments payment gateway to give users more options on using this digital currency. Also, the development of Android and Diamond Light wallet will make managing coins more convenient on the go and at the same time proliferate the use of DMD by reducing the need of having a full node wallet to perform transactions.
In the mid to long term DMD Diamond team will work on updating the core code to higher Bitcoin Core code base and joining other SegWit enabled coins. Focus will be also put on building decentralised platform which will enable creation of apps and services. This will add utility to this already rewarding monetary system; creating even more demand. Such service network would not only support deflationary mechanisms in DMD but also provide additional streams of revenue and appeal more to a growing group of new investors, developers and users.
DMD Diamond is proud to be a white vest coin, which adheres to the principles of giving love and profits to its investors. With 4 year proven track record of continuous development without any drama which is typical for cryptocurrency industry, DMD Diamond team stands out as honest, experienced and full of ideas of how to lead this rare coin to fulfil its true potential. The project has reached a phase where development is self-sustaining and no external funding in the form of donations or ICO is necessary to propel it further into perpetuity. For more information, please visit DMD Diamond Bitcointalk thread or simply join DMD Diamond official Slack channel.
Source: The Merkle