What is Diamond?
Diamond (DMD) is a decentralized payment network that runs on the blockchain network. The platform utilizes the native asset DMD to stabilize its ecosystem. It allows programmable payments and open financial infrastructure development. Users can transfer value anywhere worldwide at near zero cost. The transfer of funds is instant and does not require any intermediaries. Diamond is also a rewarding monetary system, offering products such as staking. The project’s network protocol, infrastructure, and services create a sustainable economic opportunity for all users. You can view the Diamond price on the price chart.
Diamond’s 2021 upgrade, DMDv4, utilizes cooperative HBBFT consensus and a validator election powered by Delegated Proof-of-Stake (DPoS). DMD v4 allows for true decentralization, fast transactions, low fees, on-chain governance, a low carbon footprint, interoperability, security, and smart contract deployment. Diamond’s key features include:
- DMDv4 implements a sustainable and consistent reward model. The token has a low fixed supply of 4.38 million DMD.
- The Diamond blockchain is built to be sustainable in all aspects. It boasts environmentally friendly operations, a resilient node rewards system, and "recycling" unused tokens back into use.
- The Diamond protocol implements a maximum staking limit of 50,000 DMD. The staking ceiling prevents individuals from holding more tokens that may give them more power.
- DMDv4 is fully compatible with Ethereum protocol standards. Therefore, it enables easy migration of smart contracts and dApps across chains.
- DMD protocol uses distributed HBBFT consensus mechanism and POSDAO to secure the network. The network is censorship resistant and has no orphan blocks.
- The Diamond protocol uses DAO governance that fairly distributes power to all users of the network. It creates fairness, transparency, and democracy in governance.
Use Cases of DMD Tokens
Diamond token (DMD) is the fuel that powers the Diamond ecosystem. For starters, DMD is a medium of exchange. Holders can also use it to pay for goods and services. The transactions are cross-border and instant with near zero cost.
Moreover, the Diamond crypto asset is also a governance token. Diamond coin holders have voting rights – they can vote on changes that affect the future of the protocol.
Additionally, users can stake DMD tokens to secure the network and earn rewards.
Note that DMD price fluctuates depending on the market conditions. Thus, research the token price to ensure you are buying or selling at the right time. The price chart above has data on the Diamond price, including its price history.
Who Founded Diamond?
DMD Diamond is governed by the community led by Aleksander Mesor, the CEO. Aleksander Mesor is passionate about customer experience and quality service. He uses his knowledge, skills, and experience to develop user-oriented products. He works with the rest of the team members at the Diamond Foundation to promote the Diamond project and all products and services built around the Diamond crypto project.
Tokenomics of DMD
The Diamond token was launched with a fixed supply of 4.38 million DMD. All tokens were issued with the genesis block. Thus, there will be no mining of new tokens. Fixed supply prevents inflation, protecting the value of the project, which is reflected in the DMD price.
