Each mining team is in the race to enhance the performance of mining to generate more revenue. That’s the reason they always try to use the best devices to accomplish all mining tasks. On this ground of enhancements, they got a solution for Bitcoin diamond mining.
Let’s get started and understand Bitcoin Diamond (BCD) Mining.
What is Bitcoin Diamond (BCD) Mining
Bitcoin Diamond (BCD) mining comes with the improvement of mining. Its main purpose is to enhance the speed and perform transactions at a low fee. For instance, in Bitcoin mining transactions take more time because block size is fixed. However, in the BCD version block size has been extended, so that it takes less time and is more efficient than Bitcoin mining.
It ensures complete privacy, no need to worry when you hold or send a coin. It supports most of the exchanges some are listed here Binance, OKEX, Huobi Pro, and Bit-Z.
Prerequisites for Bitcoin Diamond (BCD) Mining
Here are some software and hardware requirements for Bitcoin Diamond Mining:
- Crypto Wallet to Store the Coins
- Stable Internet Connection
- Continuous Power Supply
- Highly Compatible Hardware (Baikal Giant A900, Baikal 150MH Quark Qubit Miner)
- ASIC Mining Machines
- Mining Pool
How to do Bitcoin Diamond Mining
Here I am going to guide you on how to build Bitcoin diamond mining step by step. With the help of these key points, you can build your setup and can start mining.
Step 1: Mining Hardware
Mining hardware devices have a vital role in the mining, before hardware selection, you must have to be sure about your goals, and what you want to achieve. For instance:
Goal: Bitcoin mining and generating more revenue at a low cost.
Before purchasing devices, the first thing you keep in mind is if your goal is Bitcoin mining then select the devices that have capabilities to run compatible algorithms (like Bitcoin mining uses proof of work and Ethereum uses proof of stake). It is very important because it tells which device is mineable for which crypto.
The second thing you have to keep in mind is the hash rate and the power consumption, more hash means more block generation. So that you have to select a device that generates more hashes with low power consumption.
- Always prefer ASIC machines (Baikal Giant A900, Baikal 150MH Quark Qubit Miner).
- In case you go for GPUs, Nvidia is recommended.
Step 2: Build Connection of Hardware with Internet and Power Supply
First, connect your devices and make sure the internet and power supply are good enough. Before moving ahead let's take a quick demo to check everything is going well. Make sure the latency rate (2 or 5 Mbps) and the voltage (250V single or dual-phase. And for standard PSUs 277V/480V).
Step 3: A Bitcoin Diamond (BCD) Wallet to Receive Your Coins
Create a BCD Crypto wallet and use it to store your cryptocurrency. Ellipal is among the best-known cryptocurrency wallets. Because it is a multicurrency wallet, you can store numerous cryptocurrencies on a single machine. It supports a wide variety of cryptocurrencies, including Ripple, Ethereum, Bitcoin, and Bitcoin Diamond.
Step 4: Mining Pool Choice
As I discussed in my previous articles, solo mining is not good and it has fewer chances to generate the block so you cannot generate revenue fastly in such an approach. It is always best to work in a pool instead of working alone. To join the BCD mining pool, you have to be clear about the pool fee and reward system. Here I recommend a few BCD mining pools Btccpool, Uupool, and Vvpool. Visit each website here for the chart of their policies given like what would be the fee and more…
Bitcoin Diamond (BCD) mining comes with improved mining speed and performs transactions at low transaction fees. It also overcomes the problems of Bitcoin mining like high transaction fees, more power consumption, and taking more time. It originated from a Bitcoin blockchain fork.