Looking at the features of the DMD Diamond blockchain from the user’s perspective

In our recent posts, we’ve focused on the technology behind DMDv4: the coin reinsertion mechanism, validation, delegation, block finality, and so forth. This time we’ll take a more user-centric approach and see what opportunities DMDv4 will give you as a user or developer.

Become a validator and earn DMD

DMDv4 validators confirm transactions and add new blocks to the blockchain. In return, they receive rewards in DMD. At the start of every epoch (12 hours), the system picks 25 validators out of the pool of candidates. To become a candidate, you’ll need to stake at least 10,000 DMD — a much smaller amount than what’s needed to become an Eth 2.0 validator, for example.

Stake coins on a candidate and earn more DMD

Don’t have 10,000 DMD lying around or the technical expertise to run a node? No problem. Any DMDv4 holder will be able to stake (delegate) their coins on a candidate of their choice and earn a share of the validation rewards. Up to 70% of the block rewards will go to the delegates. Note that no more than 50,000 DMD can be staked on a single node in order to prevent an excessive concentration of power.

Vote on the future of the network

The DMDv4 governance system allows all validator candidates to vote on system changes, upgrades, funding requests, etc. Submitting a proposal for a vote will be subject to a fee, and everyone will be able to participate in the discussion.

Validator candidates will vote not only on their own behalf, but also on behalf of all the regular DMD holders who have staked coins on them. If the delegates see that the validator tends to change their vote at the last moment or doesn’t share their ideas, they can always switch to a different one.

Execute cheap and fast transactions

Thanks to the cooperative consensus scheme based on HBBFT (Honey Badger Byzantine Fault Tolerant Protocol), DMDv4 delivers an impressive throughput of 400 transactions per second or higher, which is almost 30 times faster than Ethereum. Transaction fees will be negligible, making this a perfect network for value transfers, including microtransactions.

Build and migrate dApps

DMDv4 supports smart contracts written in Solidity and is fully compatible with Ethereum Virtual Machine. Open Ethereum Client is included as part of the software package, so any Ethereum developer will feel at home when designing new dApps on DMDv4. You can also easily migrate an Ethereum application to our network.

In the future, we will also implement bridges to connect DMDv4 to other blockchains. Our long-term vision of DMDv4 is as a fully interoperable network that can easily exchange data and value with numerous blockchain ecosystems.

Want to learn more about the architecture and advantages of DMDv4? Then check out our White Paper or Light Paper. And if you have questions, no matter how technical, we’ll be happy to answer them in the Telegram chat!