DGB cryptocurrency should be classified as one of those projects that are at a crossroads. On the one hand, the digital currency has good support, providing it with a place in the TOP-100 in terms of capitalization. On the other hand, TOP-100 is not TOP-10, and the task of getting as close as possible to at least Litecoin has not been completed.
DigiByte – the cryptocurrency that will replace Bitcoin
According to the developers’ intentions, the cryptocurrency DigiByte should have eliminated the problems of Bitcoin and Litecoin, embodying their strengths.
Supposed benefits of DigiByte:
- Security in the DigiByte coin mining scheme. The digital currency blockchain code contains five types of algorithms: Skein (GPU), Groestl (GPU), Scrypt (ASIC), Qubit (GPU), SHA 256 (ASIC). DigiByte solo mining is possible both on high-tech ASICs and on video cards. In order to gain control over a cryptocurrency, a fraudster must have control over 80-90% of the total hash rate for one of the algorithms and more than 50% for the rest.
- Optimal ratio of liquidity and volatility. According to analysts, a slight increase in the rate of the DGB cryptocurrency in relation to bitcoin is its advantage. Bitcoin and Litecoin have a large share of speculative capital.
- The creators of the coin suggest that a limited number of tokens (21 billion) and the pegging of the DGB cryptocurrency rate to one of the world currencies will help take the place of the BTC. The total number of tokens should appear in circulation by 2035. The amount of the reward is reduced by 1% every month.
- There are several ways to become a coin owner: play and participate in third-party service offerings where DigiByte is paid as a reward, DGB mining, and buying a coin on exchanges, for example, dgb to etn conversion.
DigiByte cryptocurrency prospects
The development of the coin began back in 2013. The action plan was created scrupulously, taking into account the majority’s opinion, bonuses and privileges were provided for especially active advisers.
The prospect of any cryptocurrency depends on several factors:
- the perception of the project by investors and users (its benefits, compliance with the stated goals, etc.);
- implementation of constant updates and feedback from investors and the community;
- the general trend of the cryptocurrency market.
While everything is clear about the last factor, the situation with the first two is more complicated. Financial market participants do not need so many bitcoin forks, so most are expected to be used locally at best.
So far, the green light is only for the military-technical cooperation, which is supported from a legislative point of view. Therefore, no matter how hard the DigiByte developers try to update and improve their projects, they are unlikely to be able to compete with the top payment systems.
Cryptocurrency DigiByte, according to analysts, can take the place of top payment systems. But it is difficult to say when this will happen since the old systems need to become obsolete, but so far, they, on the contrary, are receiving support from financial markets and corporations.
DigiByte, in turn, is at the very beginning of its development. Theoretically, it can be assumed that by 2035, when all 21 billion coins have been issued, the project will be able to take a leading position. But no one will be able to predict how the world will change by this time and whether the cryptocurrency market will still be relevant.
The second question is whether such a long-term project is attractive for investors. So far, the DigiByte coin may be of interest to miners and those who make money on the general wave of the market.