DigiByte is a blockchain with an increased focus on security and scalability. The network argues that Bitcoin and the likes are not secure or scalable enough. The scalability – or lack thereof – of Ethereum was made clear during the bull run of 2021 when the networks suffered from congestion and exorbitantly high gas fees. Scalability and security are two integral components if the blockchain space is to achieve mass-scale adoption. This makes the proposition of DigiByte an interesting one.
What is DigiByte?
The network was created in 2014 by founder Jared Tate. Over the years many developments have taken place on the network. In 2020, the DigiByte Foundation was officially launched. DigiByte is a complete blockchain comprising not one but three different layers. The first layer is responsible for smart contracts, decentralized application,s and the creation of custom tokens on the network. The second layer pertains to the digital ledger which is operated through the native token DGB. The final layer comprises the central network including the decentralized nodes.
Apart from a proven history of security, the network utilizes five mining algorithms which set it apart from the crowd. The mining algorithms are placed to make sure the network maintains its security and decentralization. It also claims to have the most difficult stability which protects it from hacks and malicious attacks.
What is the future of DGB?
The native token of the network DGB has shown phenomenal growth during the bull run of 2021. The cryptocurrency managed to establish an all-time high of $0.18. Although the cryptocurrency has fallen drastically from its ATH, it is considered to have a bright future. At the time of writing, DGB stands at a price level of $0.06. The cryptocurrency has been moving upwards in the daily timeframe.
According to the estimates of Wallet Investor, the cryptocurrency is expected to reach a price level of $0.10 in a year’s time while the upward trajectory is expected to sustain and the price level will reach $0.26 in five years’ time. Digital Coin Price predicts a price level of $0.09 by the end of 2021 and $0.21 by 2026.
The strong fundamentals support the upward trajectory of the coin. The development team is also working ardently on the network. A recent upgrade v8.22.0 is expected to be launched soon with nearly all of the testing completed. A lot of different projects are working to spread the word about DigiByte and help boost its adoption.