Hello Diamonds announces infrastructure upgrade to Bitcoin Cash
Heart of the project is its stablecoin DiamCoin, which is the first token to be 100 percent backed by physical diamonds. The digital currency will be used on the official DiamCoin exchange, but can also be adopted by any other project that requires a non-volatile cryptocurrency.
The company recently decided to move away from the Ethereum blockchain, which has often been criticized for not being able to keep up with the required throughput for large-scale applications. In contrast to Ethereum, Bitcoin Cash blocks are validated faster and have the ability to scale, while still maintaining low transaction fees. In addition, recent tests have shown that Bitcoin Cash’s smart contract platform Wormhole is able to handle contracts with increased complexity.
Patrick Makedonas, an ecosystem developer of Hello Diamonds, is confident that the change will accelerate the network efficiency of the DiamCoin. “The Ethereum network has grown so big, and over the last year we have seen thousands of ICOs and other tokens being built on the Ethereum network,” he said. “As a result, when all of these new tokens want to send big volumes in separate transactions, or if it is a busy time for the network, the Ethereum network simply slows down to a point where it is not efficient.”
As of November 2018, the fee of a single transaction on the Bitcoin Cash blockchain is by 85 percent lower compared to an Ethereum transaction. This is significant for DiamCoin, as from a high-level business perspective, one of the biggest differences in the day-to-day experience of end users will be transaction fees.
“Bitcoin Cash’s ability to handle high transaction volumes with low transaction fees is highly relevant for our ecosystem. Moving forward we have to be certain that the solutions that we choose can cater to our users,” said Jeremy Dahan, CEO of Hello Diamonds.
The blockchain-based diamond platform Hello Diamonds, established in 2016, is working on a diamond-backed cryptocurrency to be issued on the new smart contract platform of Bitcoin Cash.
Hello Diamonds Corp.
2400, 525 - 8 Avenue SW
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Hello Diamonds announces infrastructure upgrade to Bitcoin Cash here
News-ID: 1376122 • Views: 226
More Releases from Hello Group
Hello Group announces blockchain powered diamond platform, backed by Economics N …
Hello Group, one of the world’s leading white label technology providers, operating across several industries, including trading and blockchain technology, has announced a new project called Hello Diamonds. The ultimate goal of the company is to provide a platform for the seamless investing in precious minerals, while simultaneously offering the world’s first fully diamond-backed cryptocurrency. Hello Diamonds’ innovative approach convinced 2010 Economics Nobel Prize winner Sir Christopher Pissarides to join
More Releases for Diamonds
Global Diamond Market : Top Key Players are Rockwell Diamonds, Anglo American, G …
Diamond mining industry comprises establishments engaged in extraction of diamonds from the earth and it also involves additional processes like polishing and cutting. Diamonds are recovered through different stages such as crushing scrubbing cyclonic separation plant recovery and cleaning weighing and packaging. Global Diamond Market research Report peaks the detailed analysis of industry share, growth factors, development trends, size, majors manufacturers and 2023 forecast. The report also analyses innovative business strategies,
Diamond Global Market Report 2018 With Major Players: Rockwell Diamonds, Anglo A …
Diamond Global Market Size: The global diamond market was valued at $0.01 billion in 2017. Asia Pacific was the largest geographic region accounting for $0.004 billion or 40% of the global market. The USA was the largest country accounting for $0.002 billion or 20% of the global diamond market. Diamond Global Market Overview: In late 2015, Lucara Diamond Corporation made transition to a new X-Ray Transmission (XRT) technology at its Karowe mine in
Diamond Market 2018-2023|Major Players-Rockwell Diamonds, Anglo American, Gem Di …
Diamond mining industry comprises establishments engaged in extraction of diamonds from the earth and it also involves additional processes like polishing and cutting. Diamonds are recovered through different stages such as crushingscrubbingcyclonic separation plantrecovery and cleaningweighing and packaging. For Sample Copy of this Report at – https://www.orianresearch.com/request-sample/675472 Scope of the Report: This report focuses on the Diamond in global market, especially in North America, Europe, Asia-Pacific, South America, Middle East and
Rarity of Natural Colored Diamonds
Natural Coloured Diamonds August 21 2013 Diamond, is formed at around 150 kilometers within the Earth’s mantle, just above the Earth’s molten core. Under intense heat & pressure, carbon molecules are crystallized to become these brilliant little stones, the hardest substance on Earth. In rare occasion, a pipelike vent opens at the superhot molten material just underneath the mantle which causes a crack at the base of mantle. The
Quality Diamonds Launches Order Processing System
London, United Kingdom (15 April, 2011) - Quality Diamonds, one of the UK's largest certified diamond retailers operating both online and offline through their sales offices in Hatton Garden and Milton Keynes, have developed a brand new bespoke sales order processing system. The new system has been written and developed to maximise the efficiency of the order process, cutting waste and reducing turnaround times to further improve the value and quality
Faith Images Showcased Within Diamonds
Religems, a division of Gemory LLC, has announced an exciting new line of faith jewelry that incorporates breakthrough nanotechnology to insert faith images and other nano-photographs within a precious diamond, showcasing images of the Christ, the Virgin Mary, the Dove or others. Serving the need for Catholic and Christian faith jewelry merchandising online through Religems.com, an Amazon Webstore, the company’s most popular item is a gold cross pendant featuring a