DGB is a cryptocurrency based on open-source philosophy that runs on the DigiByte blockchain. It was created in 2013, and the network came online during next year. It’s based on Bitcoin, but the original BTC code was modified, so it accommodates some improved features such a block generation time of 15 seconds, as well as improved security.
As we write this, DGB is trading at $0.012525. It’s capitalized at USD 149 million, from about half a billion, which was its total value roughly one year ago, which is enough to be ranked at the 53rd spot by coinmarketcap.
While the coin’s market performance is not outstanding, the technology behind it is supported by one of the world’s most advanced and innovative blockchains. It’s considered to be the world’s largest, safest, and fastest UTXO network in existence.
Digibyte’s system has undergone several significant updates during its existence that have kept it on the top of the crypto verse, technologically speaking. The next one is called “OdoCrypt,” and it’s scheduled to happen around July 19th. Digibyte users are advised to have their DGB core wallet updated by then so that the new algorithm’s expansion doesn’t get in the way of standard functionality for users.
The new algorithm’s adoption is almost 62% as we write this. It depends on users and nodes updating their Core Node and installing the Core wallet’s latest version. It means that the upgrade is nearly complete because 70% adoption is the goal at which support for Odocrypt will be considered fulfilled. The accurate, current number is of 61.5%. The percentage in question marks the fraction of active works in the network that are signaling compatibility for Odocrypt.
The chain is at block 8880341 as of now, so only 219659 are needed before the fork is final, and the project’s leadership expects that this will happen in about 38 days.
Block 9.100.000 is the spot that will mark the decommissioning of the current Myriad-Groesti algorithm (the network’s current standard) and will see it replaced with the brand new Odocrypt. By then every node and user should have their software upgraded so that compatibility is guaranteed.
Things don’t finish when the network reaches 70% of signaling. After that point, the same parameter will continue to be measured. The idea is to determine the moment in which that 70% level has been consistent for at least a week. At this moment, the algorithm is considered to be locked in.
So the network is prioritizing consistency over upgrading quickly, thus ensuring reliability. There’s no official estimation about the day in which this goal could be met, but if the system remains stable, it shouldn’t take much longer than a week after meeting with the seven-tenths goal.
It’s an exciting time to be part of the DGB ecosystem and see how the new improvements change the user experience for the cryptocurrency’s fans. Also, the continued efforts for development and maintenance in the project help uphold its reputation. The new technology could also help it improve its market performance, which has remained somehow unimpressive over the years.
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.
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