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DigiByte (DGB)

This report evaluates the fundamentals of Digibyte.

DigiByte is a highly scalable peer-to-peer digital currency that enables industry-leading transaction speeds with negligible fees. DigiByte offers a highly robust means of making digital payments, supports a strong ecosystem and is the longest running cryptocurrency in the world .

DGB is one of the few forward-thinking blockchains that is not merely limited to being used as just a digital currency (despite the fact that DigiByte truly excels in this area over and above every other Proof of Work blockchain), but rather as a multi-functional and highly purposed blockchain.

Market Demand:

According to a survey by bitFLyer, because of the corona-virus crisis, Europeans trust more in the future of cryptocurrencies: 66% of those surveyed believe that this will be a feasible alternative in the next ten years.

By the year 2021, eCommerce is expected to generate $4.5 trillion in sales per year and make up 16% of total retail sales. By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce.

As an option for the future, cryptocurrencies seem to be the perfect payment method in ecommerce as this is a digital transaction system.

Secure and battle-tested in the wild for 6 years, DigiByte has proven that its security as a blockchain is for real. Its most unique feature is the fact that the blockchain network uses five mining algorithms when most only use one. These five different mining algorithms are meant to prevent mining centralization and make the network more secure and decentralized.

In addition to having five mining algorithms, DigiByte also claims to have the “most advanced difficulty stability” of any current blockchain. The advanced difficulty adjustments are meant to protect the DigiByte blockchain from malicious attacks and further improve security.

A new DigiByte block is mined approximately every 15-18 seconds vs 10 minutes for Bitcoin. It’s 40 times faster than Bitcoin, and its five-year lifespan so far easily outpaced Bitcoin’s transactions in throughput alone. At 280 transactions per second, DigiByte hasn’t slowed in its old age, proving it’s a more scalable payment and mining option than Bitcoin.

The Team

Jared Tate is the founder and creator of the DigiByte blockchain. Jared has been involved with Bitcoin since 2012. In the fall of 2013, he decided to make several improvements to the Bitcoin core protocol which culminated in the launch of DigiByte in 2014. DigiByte has pioneered many blockchain enhancements such as DigiShield, MultiShield and MultiAlgo which have all now been implemented by many other blockchains. DigiByte was also the first major blockchain to adopt SegWit.

Tate has been invited by MIT, Harvard and the US Capitol to speak on blockchain tech. He is also the co-author of the book Blockchain 2035 The Digital DNA of Internet 3.0, which is the first book written by a blockchain founder.

The development team behind the digibyte cryptocurrency project has received $250,000 in private investment via Crunchbase.

Everyone that is working on the DigiByte blockchain is an unpaid volunteer who devoted their time and skills to a project they believe in.

Price Analysis for DigiByte (DGB)

DGB has Rank #48 with Market Cap of $330 Million.

Digibyte has a circulating supply of 14 Billion coins and a max supply of 21 Billion coins. (1 BTC = 450M DGB). All-Time High was $0.135235 over 2 years ago and is down -82% compared to the current price of $0.02433264. All-Time Low was $0.00003099 5 years ago and is up 75000% compared to the current price. 24-hour trading volume is $7,674,266.

Based on the 90-Day chart, the price is sitting on the support level at 0.024. That indicates the price will go up to 0.030 levels soon, which is also the resistance level. If break out happens from there expect 0.037.

Based on the 1-year chart, we can notice that in the last couple of months there is a dramatic increase in the trading volume which correlates with the increasing price of DGB at the same time. Very bullish chart which indicate the price will explode.

Bittrex is the current most active market trading it.

You can find DGB also on Binance.

Upcoming Events

  • DigiByte plans to further replace one of the original mining algorithms with another GPU-specific mining algorithms, again increasing the participation from home-users and casual miners. In addition, this will further strengthen the distribution of the blockchain, encouraging users to mine using the DigiByteCore application.
  • The biggest and most important upcoming plan for DigiByte will be growing DigiAssets. If all goes according to plan, an entire ecosystem of dapps and ICO will be an integral part of the network.

‌Should I buy Binance (BNB)?

DigiByte, in 5 years from now, with its forward-thinking approach, viability, development, and application of its technology, sustainable growth of project, team and community, I don’t think we need that crystal ball to predict the future with reasonable accuracy.

It’s not the Belle of the Ball, but DigiByte checks a lot of the right notes in a cryptocurrency. Its proven to be scalable and capable of processing much faster in real-world usage than many popular choices. DGB is a darling in the crypto media, and it’s easy to see why

Should you buy into this coin? Investing is a personal choice and investors should consult with experts when making financial decisions. It's important to note cryptocurrencies are highly volatile, unregulated and have the potential to go to zero. If this doesn't discourage you and would like to know if this coin made it to our shortlist, check out our weekly Altcoin Reports. ‌

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The information in this review has been independently sourced and even though we have made the best attempts to report accurately, we do not provide assurances on any of this information. This analysis is provided "as is" and it is up to the reader to do their own due diligence and research. Altcoin Investor is not associated or affiliated with any firm and the opinions are strictly that of the author. This information should not be relied nor is it to be treated as financial advice.