There are lots of cryptocurrencies out there aiming to outperform Bitcoin in terms of transaction and block speeds. Many companies choose to accept crypto payments, and the options besides Bitcoin, are Ethereum, Litecoin, Cardano, Polkadot, Bitcoin Cash, Stellar or Digibyte.
Digibyte can be perceived as the next big thing that might overthrow Bitcoin, with its enhanced secure blockchain, quick transaction times and have more than just one function of being used for transactions.
So let’s start! What is Digibyte?
What is Digibyte?
Digibyte is a blockchain that is fast, secure and forward-thinking. Digibyte has its native DBG coin. It allows you to send and receive funds across borders without the need of a middle man such as traditional banks.
It was created in 2013 by Jared Tate and was released to the public in 2014. In its 7 years since inception, many advancements have been made by Digibyte. Some of them are Digishield and multi-algo mining DGB in 2014, SegWit in 2017 and Odocrypt in 2019.
Digibyte has a fixed supply of 21 billion coins which will all be mined by 2035. It has block speeds which are 40 times faster than those of Bitcoin and 10 times faster than Litecoin.
The transactions per second are also astronomical with early SegWit transitions being 1066 per second at its peak.
Don’t forget the exceptionally low fees.
At the time of writing the project has been running for 7 years with a total of 12564942 blocks produced and 322523 nodes that have been downloaded.
Why is Digibyte so good?
There are several factors that make Digibyte such an attractive cryptocurrency for payments. Here are a few things that make it so amazing:
- 100% decentralised — There is no one in charge of the Digibyte blockchain. Everything is a volunteer effort and the community has control over the decisions that are made. This means they can review and edit the codes to enhance them and make them work much more efficiently.
- Advanced Security and Cryptography — The private and public keys have the same level of security used for nuclear launch codes. This isn’t seen with many other cryptocurrencies out there.
- Always Innovating — The project is always trying to innovate and become better and more efficient for its users.
- 5 mining algorithms
- Also, new mining algorithms are being released for gpu/cpu mining
- Lower fees when compared, for example, to Litecoin or Bitcoin
- Enormous potential
- “Digiassets” – a form of smart contracts with fees lower than those of Ethereum.
Digibyte Accepted here? Where and how to pay with DGB
Are you wondering “how do I buy Digibyte?” Finding the best exchange to buy Digibyte can be tricky. Several large exchanges let you buy Digibyte with USD using your credit and debit cards. Others let you exchange Digibuyte to Bitcoin and vice versa. Here is a list of the top exchanges you can use to buy Digibyte coins:
Digibyte Market and Price Prediction
Digibyte is an up and coming giant in the cryptocurrency sphere. At the time of writing it is in the top 100 coins on CoinMarketCap sitting comfortably at rank 83. The price is currently $0.05713 with a market cap of $806,255,592 and a trading volume of $83,794,690.
At the start of 2021 in January the trading price of Digibyte was $0.02, Some users predicted that the price might reach $0.04 by mid-2021 which has already been smashed by the current price tag of $0.057, and we’re only at the beginning of March. The price was then expected to increase to anywhere between $0.10 and $0.12 by the end of 2021. This is a reasonable price increase as a 2.5x increase from the current price.
Digibyte is one of those currencies that has the potential to do a lot of good for the world. With the upcoming bull market, hopefully, the coin gains more traction and awareness by users across the world knowing that it is truly decentralised and will provide users with a safe and secure way to send their funds to friends and family across the globe and make payments using Digibyte.