Another auxiliary Bitcoin fork was successfully released on Friday, but this time with a whopping 4.2 billion coins which are already escalating concerns among the Bitcoin communities.

Bitcoin Diamond (BCD), which forked at block 495866, aims to shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) after mining is completed.

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A somewhat odd introduction on November 22 led the way for Bitcoin's latest fork, that unlike prior versions Bitcoin Cash (BCH) and Bitcoin Gold (BTG), Bitcoin Diamond has barely any resemblance with Bitcoin (BTC) whatsoever.

Even after claiming a 28-exchange support figure, little is understood on exactly what BCD intends to accomplish. An unnamed development team, together with a mysterious 'Bitcoin Diamond Foundation,' seems to be supervising the entire operations.

Individuals wanting to redeem their BCD coins should consult their respective wallet providers first. Alternate Bitcoin acceptance is gradually taking place, with Bitcoin Gold, the earlier fork that happened in October is certainly garnering interests on the marketplace.

Records from Coinmarketcap reveals a record high of $526 which could well be exceeded if current market hype and excitement remains. Over the past 24 hours, Bitcoin Gold has increased beyond 40%.

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