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STEEMIT Monero Diamond is a truly anonymous, decentralized, finite peer-to-peer electronic currency.
The hardfork Monero Diamond will occur at
06 December 2018 at 06:00 UTC timezone.
To acquire free Monero Diamond you simply have to hold Monero at the time of the fork. If you hold XMR at that time, you will automatically receive an equal amount of XMD at the same address (new and old address format are convertible), spendable with the same private keys, when the Monero Diamond network launches in December.It is also very important to make a backup of your private key and/or keep the mnemonic phrase required to recover your wallet.💲
All registered for airdrop users will recieve tokens after 20 December.
Monero Diamond Specs:Coin Supply - Capped at 300 Million XMD. Smooth emission decline until minimum.
✅ Circulating Supply at Hard Fork - ~16.8 Million XMD
✅ Mining - Able to operate
✅ Proof of Work - CryptoNight
✅ Difficulty Retarget - Every block. Adjusted difficulty initially after Airdrop.
✅ Block Time - Every 120 seconds
✅ Block Reward - Smooth decrease. Minimum of 6 XMD per block
✅ Block Size - Dynamic, max 2xM100
✅ Privacy - Ring signature / stealth addresses
1st ICO Stage: +200% bonus
Monero does not scale. As of the time of this writing, Monero’s median transaction size excluding coinbase transactions is 51.2 times larger than Bitcoin’s median transaction size (13.21 kb vs 258 bytes). If Monero was to handle the cumulative transactions amounts of Bitcoin, its blockchain size would be higher than 7.7 Terabytes (in comparison to Bitcoin’s 155 Gigabyte blockchain). In turn, the fear from an imminent bloated juggernaut blockchain comes with higher median transaction fees than Bitcoin.
Monero Diamond plans to tackle the scaling issues, which is the main source of problems in Monero, and in all cryptocurrency coins for that matter, and integrate the MimbleWimble protocol so that the blockchain size will be bound to the number of users using Monero Diamond (not the number of transactions being made in the network). This will significantly reduce both transaction costs and blockchain size, permanently solving the scaling problem.
Max coin supply 300 million XMD Infinite XMR
Coins in circulation at hard-fork block ~16.8 million XMD ~16.8 million XMR
Emission per block Smooth emission decline with a 6 XMD minimum until max supply reach. Smooth emission decline with a 0.6 XMR minimum for infinity.
Starting block 1729888 (while a snapshot of all previous blocks was taken from Monero’s blockchain) 0 (Genesis)
Block interval 120 seconds 120 seconds
Difficulty adjustment Every block Every block
Difficulty algorithm Improved LWMA Simple average (N=720)
PoW algorithm Cryptonight V7 Cryptonight V7
Monero, like many other cryptocurrencies, is based on a decentralized consensus mechanism. Monero nodes run software that is restricted to certain consensus rules so that nodes not complying with these rules would not be included in the Monero network. Other nodes in the Monero network check if a certain block, when it is mined, complies with these consensus rules. It is either accepted by other nodes in the blockchain if it does, or rejected in case it does not.
A hard-fork occurs as a result of Monero Diamond’s deviation from the current Monero consensus rules. Monero nodes and Monero Diamond nodes will still comply with the same rules, validating everything that took place on the blockchain before block 1729888 . But from block 1729888 , Monero Diamond’s new rules come into effect, which will cause nodes of Monero to reject blocks that were formed with Monero Diamond rules and Monero Diamond nodes to reject Monero based blocks . Thus, the network will split.
The Monero blockchain will continue to add new blocks to its blockchain; however, from block 1729888 , Monero Diamond will begin creating a new branch of blockchain that diverges from Monero. Monero Diamond and Monero will share the same history of transactions and balances up until that point. This new branch will represent a new cryptocurrency: Monero Diamond.
The new consensus rules imposed by Monero Diamond will come into effect at block 1729888 . From this point forward, miners on the Monero Diamond network will begin to add blocks to the new branch: Monero Diamond’s blockchain.
Monero (XMR) holders prior to block 1729888 will automatically receive the equivalent of ten times the amount of their Monero holdings in Monero Diamond (XMD).
Telegram Airdrop:
Rules of Monero Diamond Airdrop:
• Limited to 39999 participants.
• To recieve 100 XMD (Monero Diamond) you need to complete required tasks! Please keep following all accounts of which the task you have joined till the end of airdrop.
• The XMR tokens will be distributed on 31th December 2018.
• Each valid referral will be worth 50 XMD tokens. To count as valid referral, the referred person needs to complete at least the required tasks.
