Place/Date: Manchester, UK - November 13th, 2017 at 7:56 am UTC · 4 min read
Contact: Aleksander Mesor, Source: DMD Diamond
DMD Diamond is one of the oldest and most mature cryptocurrencies out there. It started in June 2013 and went through several revisions and improvements, and has never changed its core values of being a non-government controlled digital currency. It boasts quick, secure and at near zero cost transactions and at the same time is an interest bearing asset with high annual interest rate that empowers people to achieve financial freedom. This modern age financial instrument makes an excellent storage of wealth that is supported by the network protocols, infrastructure and services.
The amount of DMD coins is finite. In just over 4.5 years since the first block was mined, the system produced almost 2.5 million coins, which is halfway to its’ final total of 4.38 million coins. The early adopters’ stage is supported by the protocol’s generous rewards scheme which follows a decreasing curve rate; block rewards are smoothly reducing over time without abrupt reward halving. Within the next 10 years, the interest rate will be gradually falling from the current 25% to 1% ending the era of easily obtainable DMD Diamond coins.
Even though DMD Diamond is a scarce cryptocurrency with almost 5 times fewer coins than Bitcoin there is more than one way of obtaining and profiting from DMD coins. DMD Diamond uses Proof-of-Stake 3.0, a state-of-the-art consensus protocol, which ensures a high degree of security, stability and efficiency. It eliminates many attack vectors such as Blockchain precomputation, incentivises running network nodes and makes the whole system eco-friendly with minimal carbon footprint. Investors in DMD can benefit from holding their assets for a period of time when the coins part-take in securing the blockchain and in return the system pays out rewards. The process was made easy and fully automatic, with innovative split and merge mechanics that adjusts coin piles for optimised returns and a truly seamless experience.
The latest instalment of DMD Diamond introduced the Masternode technology, a Layer 2 network that provides additional services. Diamond Masternodes facilitate quick and more anonymous transactions for which they are compensated with 65% of every reward block. A small number of Masternodes guarantees regular and frequent pay-outs and it is an excellent form of passive income. To run such service node one must allocate 10000 DMD or join a shared Masternodes program. At the time of writing, 50% of all coins are locked in Masternodes, away from speculative markets, which undoubtedly proves there is huge demand for these type of services.
Those users who have mining equipment and still prefer to obtain their coins via the Proof of Work consensus mechanism, which DMD Diamond phased out in favour of greener and safer technology, can do so by using Diamond Multipool (where miners can sell their computational power to NiceHash). All their earnings are then automatically converted to DMD coins.
On the other hand, it has been a spectacular year for cryptocurrencies. On year to date basis Bitcoin’s price in USD terms rose by 600% while DMD Diamond soared by 4500% reaching an all time high of 12USD per coin. In the last 4 years DMD Diamond demonstrated its’ ability to hold value over long periods of time, which makes it an excellent hedge against crypto volatility. Active participants in network activities are generously rewarded for holding DMD and it has a clear advantage over coins with no interest, and no extra passive income options.
DMD Diamond has a proven track record of over 4 years in development with no pre-mining, no ICO, no drama, and pure passion for the idea of scarce, valuable and secure cryptocurrency. The recent code update sets the stage for the future progress which will lead to creation of a service platform powered by Diamond Masternodes. Diamond is an excellent brand that will aim to fill niche sectors of particular industries. Also, joining the family of SegWit enabled coins and introduction of Mobile Diamond solutions will drive the adoption of this digital currency. As security is paramount, DMD Diamond, in collaboration with its partners and affiliates, will seek to harden its resistance against malicious quantum computing by employing better cryptography. DMD Diamond Foundation will continue submitting core code improvements and further with the program of co-financing community based projects.
Disclaimer DMD Diamond is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.