— Jared Tate (@jaredctate) May 15, 2019
Oh, you don’t know what Digibyte is? Well, that’s understandable because this cryptocurrency and blockchain network doesn’t get as much attention as some other digital assets. That shouldn’t lead you to believe that this is not a worthwhile project. It has some solid fundamentals and exciting features that set it apart from the cryptosphere. It has a huge potential to flourish, and you could be in the developing team.
DigiByte is Jared Tate’s brainchild. He developed it during 2013 and launched it the next year. Mr. Tate wanted to see a digital coin in the market that would be as robust as Bitcoin but faster, more secure, and capable of achieving a higher degree of decentralization and reach a community broader than Bitcoin’s.
The project is unique in several ways. It’s the most decentralized blockchain on earth, for a start. The system includes more than 200k active nodes scattered all over the world. This high degree of decentralization makes the network very safe and almost immune to hacks, especially to 51% attacks. As things are today, Digibyte is the world’s largest, fastest and most secure blockchain in the Unspent Transaction Output category. That’s a significant achievement if you take into account that Bitcoin falls in this category too.
The network uses several different algorithms for the mining process. They’re explicitly designed so that they can’t be turned into hardware. That means that manufacturers can’t come up with an ASIC piece of equipment to facilitate the mining process. And this is a good thing.
Why? Because it keeps the field leveled for all miners in the network. Nobody can have the edge over the rest because of owning and operating specialized hardware. But the beauty of it is not just that it keeps things more democratic. Also, it guarantees that the degree of decentralization in the network will remain very high because no single node can become a lot more relevant than the rest.
Digibyte is one of the most exciting but overlooked assets or blockchain projects in the world. It holds the 51st spot by market capitalization. It’s worth USD 145 million in total, and it’s trading at USD 0.012296 as we write this. So far DGB has been one of the altcoins that haven’t really gone along with the upwards trend led by Bitcoin since last Friday. And that means that this is an accumulation period for savvy investors because its price will soar sooner or later.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.