What is BitcoinDark?
BitcoinDark (BTCD) was a privacy-centric altcoin launched in 2014 that had the goal of being a disruptive force in the financial sector. Their motto was, “Paving the way to financial inclusion for everyone,” and they operated under the mission of wanting to deliver cheap or free private transactions for anybody, worldwide. In May 2018, BitcoinDark was swapped for Komodo and its developers joined the Komodo platform. Its blockchain has not been maintained and as such, BitcoinDark is no longer a functional cryptocurrency. This means that even if the coin is purchased on its last exchange (Poloniex), it cannot be moved off the exchange because it in fact no longer exists.
History of BitcoinDark
BitcoinDark was launched anonymously in July 2014 with no ICO and a premine of 1.5%. It enjoyed a tremendous degree of popularity throughout the course of existence, listed on major exchanges Bittrex and Poloniex very early on, at its peak possessing a market capitalization value of half a billion dollars, in January 2018. After this peak it quickly plummeted in value and by May 2018 was integrated into the Komodo platform, with BTCD coins swapped for Komodo (KMD) coins. The entire BitcoinDark development team was also transferred to work on Komodo, and as such, the BTCD blockchain was abandoned. It is now no longer functional, and coins cannot be transferred, effectively ceasing its existence as a cryptocurrency.
How BitcoinDark Works
Like bitcoin, BitcoinDark was a SHA-256 coin but its blocks were 1 minute in length as opposed to bitcoin’s 10 minutes, and there was to be a total of 22 million coins generated instead of bitcoin’s 21 million. The goal of BitcoinDark was to not only make private financial services available to everyone but also to provide a “complete financial system.” This included the provision of a digital asset exchange built into its platform as well as a pegged-asset exchange which allowed for the trading of more traditional assets such as fiat currencies, precious metals and even stock ETFs.
BitcoinDark is no longer a functioning cryptocurrency and as such we do not recommend its purchase.