After Two Years of Development, Bitcoin Alternative Diamond Coin (DMD) Offers 50% Annual Interest

Bitcoin Magazine
After Two Years of Development, Bitcoin Alternative Diamond Coin (DMD) Offers 50% Annual Interest

Bitcoin Press Release: Backed by the Diamond Foundation and an array of price stability mechanisms and professional services, long term valuable digital currency DMD is a stand-out in an increasingly crowded digital currency space. DMD is soon to celebrate its second birthday.

With almost 2 years of ongoing development, Diamond Coin’s philosophy is to create long term stability through sensible management and an ever expanding network of supporting services. Diamond Coin strives to be a stable and secure digital currency with 50% interest annually and advanced security protocols and algorithms.

The team’s unique approach overcomes challenges like inflation control, price volatility, security and sustainability by incentivizing holding rather than spending. Diamond Coin’s future plans involve an entire ecosystem of Bitcoin 2.0 decentralized services with an increasing spectrum of digital currency financial instruments.

DMD stake holders are automatically eligible for 50% interest per annum in a straightforward process known as “minting”. When minting the DMD adopter obtains some coins, and holds them in the Diamond Wallet for a given period of time which in turn generates new coins. Minting withdraws the DMD from the supply chain for staking, contributing to price stability, as well as securing the network through improved Proof-of-Stake technology.

In order to control DMD inflation and bring it in line with the annual rate of physical gold extraction, minting rewards will be successively reduced over the coming decades. The early adoption period for Diamond Coin has been set to last for a few years; a time frame that is uncommon in the digital currency industry. This requires a long term commitment that will translate into a slow but cumulative effect of organic growth. Such a model is also a pledge on behalf of the DMD developers to think strategically and long term.

To deal with price volatility the Diamond Coin ecosystem currently has two key mechanisms to help ensure the value remains stable. The first is the Diamond Multipool that allows participants with their own computer hardware to mine currencies with almost any algorithm and receive DMD in return. The second service Diamond Cloud Mining enables anyone to collectively mine BTC in the cloud and convert this into DMD payouts. The system has proven to be adaptive, sustainable and rewarding for its participants.

The Diamond Coin Foundation developers treat network security as a continuous challenge that needs to be addressed and developed to remain a step ahead of potential security threats. Improvements in protocols and software optimizations provide a streamlined client for the end user. Employing a Hybrid Security of two separate protocols working in tandem is the cornerstone of Diamond Coin’s security. To further strengthen security Diamond Coin implements ‘Reactor’, a protection tool that provides the benefit of additional safeguards along with the price stability mechanism of Diamond Cloud Mining.

Visit the official DMD website for more information:

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Media contact

Name: Aleksander Ray


City and Country Location: Manchester, UK


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Cape Innovation and Technology Initiative Launches Digital Currency Hub in South Africa

The Cape Innovation and Technology Initiative (CiTi) has announced it will launch South Africa’s first digital currency hub, BitHub. It will serve to be a center point for anyone currently involved in digital currency or interested in learning more.

CiTi has already made a name itself in its nearly 20 years of serving the local South African community where it has been a pioneer of new technologies. The nonprofit organizes tech meetups and events, such as a recent virtual reality community gathering, provides resources to developers and runs an incubator for local tech startups.

“In South Africa, we are faced with different challenges from the rest of the world,” says Sonya Kuhnel, organizer of the recent Bitcoin Africa Conference and collaborator in the BitHub launch, “and understanding our market is as important as the technology behind it. BitHub will guide and mentor entrepreneurs whilst they develop and shape their Bitcoin businesses to fit our unique market needs.”

The BitHub’s first event happened today in their already established co-working space, Bandwidth Barn, where future events will also be located. The event featured several speakers from the local digital currency industry and community, including Roslyn Lavery from PayFast and Andrew van der Nest from Landmark Computers. The institute also announced it will be bringing one Bitcoin developer into their startup incubation program.

Both have been instrumental in the rise of bitcoin in South Africa. Landmark Computers, a South African computer retailer, was among the first businesses to accept bitcoin in the country and continues to support its adoption. PayFast, on the other had, is the first and only payment processor to accept the digital currency, making merchant adoption much easier. The company has played a role in supporting other digital currency businesses, such as South Africa-based mobile bitcoin wallet Zapgo.

Today’s event is just one of many that CiTi plans on holding about digital currency. Each event will aim to educate participants about how digital currencies work and what they are used for; the relevant regulations startups working in this sector need to comply with; and connecting out with the country’s business leaders and demonstrating how the technology could be useful to them. The institute believes the currency and technology has many potential use cases in the African country.

“We believe that fintech innovation is going to be the cause of considerable disruption to the traditional banking model in Africa,” says Ian Merrington, CEO of CiTi. “We particularly believe that innovation within fintech has the ability to dramatically reduce transactional fees and lower barriers and the cost of remittance. The decentralized blockchain technology also has huge transformative potential. Reducing corruption is one potential application that comes to mind!”

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