native crystalline carbon that is the hardest known mineral, that is usually nearly colorless, that when transparent and free from flaws is highly valued as a precious stone, and that is used industrially especially as an abrasive. also : a piece of this substance.diamond, a mineral composed of pure carbon. It is the hardest naturally occurring substance known; it is also the most popular gemstone. Because of their extreme hardness, diamonds have a number of important industrial applications.