Introduction
Moving some of your investment portfolio or parts of your savings into cryptocurrencies, comes with a relatively high burden of responsibility. Since all middle men (read banks) are gone, you alone stand with all fail-safe switches. Once we have secured your private keys, files and passwords, we wield little power over the rest of the infrastructure that is an absolute necessity for our selected cryptocurrency to function properly. We obviously cannot choose who our peers for said cryptocurrency will be, but we can actively choose whether we park our money into a coin that -by design- centralizes or decentralizes power.
Proof-of-work based coins are risky and wasteful
If your chosen coin uses the proof-of-work method for verifying transactions, like for instance Bitcoins (BTC) or Bitcoin cash (BCH/BCC), said miners are often conglomerates of ASIC mining factories in foreign countries. They have a very different agenda than us normal people. We're primarily interested in network stability. In addition to that, we would would want cheap, speedy and efficient transactions. The miners, on the hand, are into whatever makes them most money. If long transaction times and expensive cost-per-transaction, or dumping one cryptocurrency for another makes the miners more profits, do we think they would act in unison with our interests? or the interests of the greater good?
Proof-of-stake based coins are efficient and decentralized
Diamond coins (DMD) gives you a de-facto total control over your coins, because of the way this cryptocurrency is designed. It uses the environmentally friendly proof-of-stake (POS) technology for validating every transaction. Each wallet installed on the oldest of laptops can be used to "mine" or stake, thereby building up the backbone of the Diamond network. Over a hundred dedicated masternodes reinforce this web of peer-to-peer action, which optimizes and enhances the idea of decentralized networks, reducing the level of stress of negative human emotions. Will the miners be around tomorrow? Will they up the prices tomorrow? Will they concentrate on their own transactions tomorrow?
Staking technology decentralizes power
The more control over the process of validating transactions we have, the safer our coins will be. Control over our cryptocoins comes only partially through securing the computers, installing protective softwares, safeguarding passwords, private keys and addresses. After said checklist is walked through, the closest thing to full control comes with the ability to stake our coins, thereby being allowed to encrypt a block and add it to the DMD-blockchain. The fact that we can "mine"/stake Diamond coins directly with our PCs, we the people, are given more direct control over the process of a transaction, beyond passwords and private keys. POS takes power and control away from institutions and gives it to individuals. A higher subjective sense- and a true objective security is thereby achieved, vastly increasing the trust in the DMD system, providing a near ultimate storage of value.
Bottom Line
We can only get so far once passwords and private keys are safely stored with respect to securing our funds in our cryptowallets. Beyond our grasp lies a network that must function 24/7 regardless of trust and other human political constructs. Entities of centralized networks often have agendas diametrically opposed to ours. The POS-based decentralized peer-to-peer network that Diamond coins (DMD) constitutes, offers serious investors the near ultimate storage-of-value for their hard earned cash.
Do you want to have better control over your wealth?
Best regards
Dr DMD
DISCLAIMER: THIS IS IN NO WAY AN INVESTMENT ADVICE AND IS TO BE TREATED AS INFORMATION FOR RESEARCH PURPOSES ONLY
If you're interested in a sneak peak into our community, fill in the form here and ask for an invite and you will receive an invitation shortly to our DMD-slack channel. You are warmly welcome!