DigiByte is a blockchain project that’s been around for five years already. It aims to provide a more secure, faster, and visionary blockchain and cryptocurrency for the cryptosphere. It’s currently the world’s largest, fastest and most secure UTXO blockchain in the planet.
So while the technological advantages in DigiByte (DGB) are apparent (and it also has an active community) it’s market performance is not that impressive. It’s trading at USD 0.012248 with a capitalization of USD 146 million. It holds the 64th spot by market cap according to coinmarketcap.com.
But is it a sleeping giant?
If you’re an investor or trader looking for a reliable digital asset that could be about to explode, DigiByte could be just the thing. It has a genuine use case; it also has an authentic developer community. It’s 40 times faster than Bitcoin and arguably more secure.
But can it really compete with Bitcoin? Is it a serious candidate for mass adoption?
Well, let’s see. It’s highly secure and scalable; it has very high transaction speeds, it’s been around (and thoroughly tested) for more than four years, it features manageable units ready for mass adoption, and an active development team.
It’s a mineable coin that uses several different algorithms that keep the network fast, so you can mine your own or get some in several different trade and exchange platforms.
There are wallets available in every operating system.
The blockchain includes three layers: applications, digital asset, and core protocol. This means that the blockchain allows for the development and deployment of both centralized and decentralized applications as well as smart contracts. The digital asset layer deals mainly with security. And the core protocol is the one that supports all of the project’s infrastructure. The capacity to deploy smart contracts and apps makes this blockchain way more versatile than Bitcoin’s.
Another exciting feature in DGB is its high degree of decentralization. Its active nodes are genuinely scattered all over the world. Bitcoin, on the other hand, has most of its mining activity centered in China. While that doesn’t mean that Bitcoin is centralized, it is a risk because the Chinese government has been friendly to the crypto verse in general but quite hostile towards Bitcoin. The problem is that if something happens in China, and all those mining nodes go offline, the BTC network would face some severe issues.
Also, the DGB mining process is much lighter than Bitcoin’s. Bitcoin consumes as much energy as Ireland to keep the mining process going because calculating the SHA256 collisions needed to create new blocks (and tokens) is so labor extensive that you need specialized hardware to do it and to live in a country in which electricity is very cheap. In short: mining BTC is slow and expensive, and if you’re interested in it, you’re probably late to the party. But if you’d like to mine DGB instead, you arrived just in time.
Final thoughts
DGB has everything it takes to become successful as a cryptocurrency both in the real world and the market. And it’s still very cheap.
It’s a project with solid fundamentals that have not been recognized by the market yet, so this would be the perfect time to get involved.
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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