Do you know what all L2 blockchains on Ethereum have in common? They are all prone to centralization. Yes, L2 defeated the scalability problem, but how valuable is a blockchain if most of the tokens are centralized in the hands of a few people (hello ZkSync). They can manipulate the price of the coin at will. Is this what we all wanted from blockchains of the future when we looked at the industry a few years ago?
Also, have you noticed how much attention L2 blockchains are getting? There are too many of them and they are overshadowing news about L1 blockchains and other interesting developments. Globally, it's just a trend. There are too many L2 blockchains and most of them will not be able to compete in the long run.
I was interested in doing my own research to find the ultimate blockchain that would be competitive in the long term, decentralized, and if possible with investment potential, because I was originally looking for a long-term investment idea.
I had to go through the blockchains that everyone is familiar with Ethereum, Solana, Ton, a bunch of L2 blockchains that have popped up recently: Optimism, Base, Starknet, and a dozen other L1 and L2 solutions.
In each of them, I found some flaw. Ethereum is becoming more and more centralized over time and also has some scaling flaws, many L2 projects by distributing tokens to themselves are also prone to decentralization issues, Solana has no EVM compatibility and periodically under load the network can go down indefinitely. This is why such a meme appeared. Remember it?
Ton also performs poorly under load, performing all transactions too slowly, up to several hours. Even on a network with no load on Ton, transactions are too slow. If you've ever traded on the DEX of the TON blockchain, you understand me like no one else. It's painful to see the price change the moment you hit the buy/sell button, and your profitable trade becomes less profitable or even unprofitable just because the transaction takes too long to process.
It became clear that independent L1 blockchains with all these advantages were simply not coming to market. And all the blockchains I analyzed coexisted with some significant drawbacks.
After that, I dug even deeper to find at least one project that would meet my requirements. And to my own surprise, I found it.
DMD Diamond Blockchain is the best blockchain on the market now for a bunch of reasons.
It turns out that the project has been around since 2013, but for some reason I had never heard of it. It's a trusted decentralized blockchain with EVM compatibility and 20 times the performance of Ethereum. Interested? Then let's break down the project!
DMD Diamond Blockchain Review
DMD Diamond Blockchain is an EVM compliant blockchain built on Honey Badger BFT cooperative consensus algorithm technology. It is a blockchain with very cheap transactions. The NFT creation fee will be less than 1 cent and normal transactions will cost even less. The blockchain also has predictable costs - it doesn't have a dynamic gas price, so you can always calculate in advance how much you'll spend on commissions.
The project has a native DMD Diamond Coin - it has been trading since 2013. The native coin is used to pay commissions, reward node owners, and gives you a say in DAO's decision making.
Remember when I talked about slow transactions on TON? Well, that's not the case here. Transaction completion is instantaneous, allowing for fast transactions. On average, it takes up to 2 seconds to complete a transaction.
At first I thought that the project was in a state of disrepair, but after a quick read of the project's Twitter, I realized that the team had chosen the tactic of laying low and building the product. They decided not to get distracted by other things and that's why they have been working on the new version of DMD Diamond Blockchain V4 for 6 years. But more about that later.
The team is broadcasting at conferences, working with centralized exchanges to list their native coin on them, and sharing the results of their work. And I think I found the reason why I hadn't heard of them before. For the past 6 years, they haven't pumped out any marketing and advertising, and all their resources have been spent on finalizing the blockchain, which will be updated this fall and will be comparable in size to the Ethereum Shanghai update.
The DMD Diamond Blockchain has no airdrops, and coins are fairly evenly distributed among holders, there are no 1-2 large holders who can manipulate the price of its native coin. All decisions are made in a decentralized manner by voting in the DAO.
The main technical feature of the project is that it has a Honey Badger Byzantine Fault Tolerance consensus mechanism (also known as HoneyBadgerBFT, HBBFT) with an EVM-compatible blockchain, which means that any project running on Ethereum, Polygon and other EVM blockchains will also be able to work on the DMD Diamond Blockchain.
All of the above features give the blockchain truly unique capabilities. It's a decentralized, EVM-compliant, developer-friendly and user-cheap blockchain that has been right under our noses all along.
But some people have managed to see it anyway. First of all, the developers of products on DMD Diamond Blockchain. A number of interesting projects have already been built on it or are in the final stages of development: the Uniq NFT marketplace, Gladiators Game, Uniq Earth Metaverse, and a few others.
DMD Diamond Blockchain is the best chain developers. Why?
I'm not a developer, but intuitively I can say that for a developer it's important to build projects using one language, so you don't have to learn a new programming language for each blockchain, a supporting infrastructure, tools for developers, grants and cheap commissions are important. And DMD Diamond Blockchain has it all.
There's a cool development ecosystem that maintains the integrity of the backend and frontend systems. And if the community likes your project idea, they can vote on it, and if you get 33% of the votes, you can get funding.
The blockchain has instant block finalization, and once a block is created, it's final. Block spoofing is eliminated and transactions are confirmed instantly. This is a plus for developers who need a quick final answer.
DMD Diamond Blockchain also has improved random number logic compared to Ethereum. It is free from manipulation, which makes the blockchain convenient for development when a project needs random numbers. For example, this can be useful for gambling or GameFi games.
If you are a developer and plan to build your project on this blockchain, I advise you to buy native coins now to cover future commissions. In general, the price at ~$3 looks attractive to buy.
There is a big update planned for the fall, which we will talk about later, and it may trigger an increase in the price of coins, so it is important to buy now.
Why the DMD Diamond V4 update is better than Ethereum Shanghai?
Before talking about the upcoming update, it's worth providing some introductory information. DMD Diamond Blockchain had its last significant V3 update in 2017. Since then, the team has been building the fourth version of the blockchain, spending 6 years on it. About the team, by the way, we should say separately - they are real fanatics of their work, who live with technology, do not recognize fiat and are excited about decentralization.
But this can also be seen as a disadvantage. It's good when a project develops in a balanced way, but as the last few years have shown, the team got more into the product and gave up on marketing the project.
And now, after several beta tests that started in 2021 and continue to this day, the launch of the main DMD Diamond Blockchain V4 network has been announced. The update should take place in the fall of 2024.
After the update, the security algorithm will be improved, unclaimed coin-based controls and 10% rewards from validators will be introduced - it's about developer funding from DAO, which I wrote about above. The update will also introduce the industry's first Honey Badger Byzantine Fault Tolerance consensus algorithm and a delegated proof-of-stake validation mechanism called POSDAO. Some of the projects are already building on top of V4, and when the main network launches, they will make their projects available to the public.
Therefore, this update can be compared to the other major Shanghai update that came out on Ethereum. DMD Diamond Blockchain V4 could greatly boost the growth of the ecosystem, attract new developers and investors, and ultimately drive up the price of the coin.
Should you buy a DMD Diamond Coin now?
Now, almost no one talks about the project and its future update. The price of $2.5 coin is low and stays in the same range for the last few years.
Here we can say that, the fact that the team has not advertised the project in any way in the last few years will only be a plus for us, as we can buy the coin at a reasonable price before a major update.
The V4 update and listing on the major Tier 1-Tier 2 exchanges can swing the price. As a reminder, the team is negotiating the listing and may announce details soon, perhaps as early as this fall.
I'm planning to make 5-10 X's on this. And if we wait for the alt-season, we can expect 20-50 X's.
Right now, the project has a small capitalization of only $10 million. Such a capa can easily be rocked with positive news and updates. For comparison, the same L2 blockchains on Ethereum have a capitalization of $500 million (ZkLink Nova), $1 billion (Linea) and higher. There is definitely room for growth.
Conclusion
DMD Diamond Blockchain is a promising developer and user-friendly blockchain that has been undeservedly forgotten.
The team is planning a truly grandiose relaunch of the blockchain with the launch of the V4 update. But it is worth realizing that the project has been forgotten by many due to the lack of news.
Will it be possible to restart the blockchain, flood the top exchanges and rock the native coin to ATH? I don't know yet. But after the research, I believe in the project. And here's why:
They have stood the test of time, survived more than one crypto winter and are still afloat.
The team has unique technologies in the form of Honey Badger Byzantine Fault Tolerance and POSDAO that are attracting more and more supporters.
The blockchain has integrity, where there can be no forks, as well as decentralization through the DAO governance mechanism, no airdrop, no large coin holders, and setting a maximum of 25 nodes for validation, which also reduces the risk of making the blockchain centralized.
Will this submarine that has been under the radar successfully resurface? To reassert itself and its blockchain, to attract new developers and users. We will find out this fall during the update.
