In a very appropriate fashion, Diamond coins (DMD), one of the oldest cryptocurrencies in the world, have been enjoying a comfortable resurgence this year. Having started in June 2013, the coin has reached an all-time high having soared 4500% to reach 12USD per coin. It begs the question: how has it endured when so many have failed?
At present, we see an unprecedented swell of Crypto ICO’s and dynamic blockchain innovation every day, whilst there are new crypto casualties that find themselves at the bottom of Blockfolios as they struggle to rebound from the highs, lows, dips and forks.
The recent uptrend for Diamond could be down to their recently developed Masternode Technology. Diamond Masternodes appear to be an ambitiously lucrative means to strike up a working relationship with its users; these Masternodes are computers that are constantly connected to the DMD Network providing computer processing power to it, supporting its wider ecosystem and powering services as well as specific tasks and applications.
This Proof-Of-Service development rewards the dedicated Masternode users with 65% of network rewards. What is needed in order to get a Masternode is to have 10,000 DMD in your Diamond wallet, an easy task when one takes a brief look at their 0% commission on cloud mining, which is built in favour of keeping the energy bills low and the coins value resilient.
Conveniently, the periodical rewards gained from Cloudmining through the DMD network is a work of beautiful simplicity. It can’t be mined directly, so when you are participating in their Cloudmining network, other crypto you mine through the Multipool is converted instantly into DMD and put straight into your account, which can go toward your Masternode investment.
It’s an incredibly well thought out system that comes off as well oiled machine, designed to spin as a cycle of wealth for its’ users. By design, Diamond is a wealth storage solution and cloud mining which provides yet another layer of usability. According to the website, Diamond Cloud mining actually keeps the price of DMD stable whilst guaranteeing a re-bounce after malicious dumps for example.
The coin, despite having no ICO and no pre-mine, has managed to build itself up to having a multi-million dollar market evaluation.
The scalable commodity is an interest bearing asset, it comes with a high annual interest rate which will be reduced from the current 25% rate down to 1%, eventually making DMD coins extremely scarce, especially now as they breach the halfway point of their coin cap, the clock begins to tick for the latecomers.
In 2017 people are willing to see any proof of crypto and blockchain technology being a stable, well thought out part of the tech revolution we are in, and if anything it’s very likely that many people will be looking to Diamond as shining, working example.