The relevance of any cryptocurrency lies in its function and the purpose it serves. With the many created cryptocurrencies in the world, Digibyte stands as the fastest with 15 seconds block timing. Digibyte was seen as a scam until John Mcfee comment ignited interests from all sides to keep it on its toes.
It is also recognized as the sleeping giant. Before December 2017, it was hovering around the $0.06 price level taking considerable steps from its deep sink. Digibyte tested the $0.09 price mark in December before eventually finding a residence in the $0.1 zone.
What is Digibyte?
Digibyte was created by Jared Tate on the 10th January 2014. Its creation was primarily focused on cybersecurity. This was meant to offset the weakness of the other digital assets vulnerable to cyber attacks.
Digibyte is known for its unique characteristics different from the other cryptocurrencies. It cannot be destroyed, hacked, nor counterfeited. In respect to this, it serves as an important asset for storing values.
Its portfolios comprise of Digibox, digibyte gaming and telegram. It runs on the digibyte Blockchain and has a potential for solving many problems being faced by the current digital economy. It was no fluke that this cryptocurrency once came on the list of the top cryptocurrencies in the world. With its cheapest price, it stands as the investor’s choice.
Breaking Its Resistance Level and Further Revelation
In January 2018, it broke the resistance level of the millions to find its place among the billion market caps. It stepped into the shoes of Bitcoin and Ethereum that has broken multiple resistance level to attract attention by investors. Digibyte currently has a market capitalization of $1,025,361,410 and available supply of $9,677,146,483. The deviation of the market cap from its available supply is one requirement investors have an interest in before putting their money in there.
Digibyte has amazing features that can easily adapt to future upgrade increasing its transaction speed to thousands of seconds. It was designed to have an amazing flexibility, speed, and security. The founder of digibyte has predicted that the currency will trade between $1 and $10 very soon.
This digital asset is spread over 100,000 servers such as phones and computers. It also has five mining algorithms. It forms one of the classes of cryptocurrencies created in 2014. Even though it recorded a significant rise before December 23, 2018, its current growth has been attributed to John Macfee’s tweet.
“Coin of the day: Digibyte (DGB). Using a Blockchain which is 40 times faster than Bitcoin and having one of the most decentralized mining systems in the world – based on 5 different synergistic algorithms. DGB adherents call the coin “The Sleeping Giant”, Mcfee tweeted.
The future of this digital asset will be interesting as investors have folded their arms witnessing its performance.
With many expectations before entering the New Year, all the cryptocurrencies have not lived up to that level so far. Some of the currencies have reduced in value drastically whiles others are still struggling to find their form. Digibyte is fighting for position with currencies such as steam, Ark and co. Cardano was at that level until they took off to the top ten of the largest cryptocurrencies in the world. With a similar run, digibyte will be an amazing asset to invest in.
Around 18th November 2017, it was in the 61st position but has currently amassed enough power to compete in the 45th down to the 36th position.
What Lies Ahead
The digibyte team has combined the digibyte Blockchain technology with an artificial intelligence to explore future innovations for the success of the technology.
The future of DigiByte includes the focus of applying DigiByte security to IoT devices and services that require robust communications.
Even though there have not been many partnerships with renowned organizations, the digibyte team are working tirelessly behind the scene to make this innovation one of the best. Today, cryptocurrency is all about competition and success. Even though the digibyte team seems to be working hard for the effectiveness of this asset, investors expect them to do better by promoting their assets with apps and other measures of promotion.
With many undervalued cryptocurrencies coming into the race, digibyte is expected to come out stronger as it has a lot of features to its advantage. As at now, the digibyte price is $0.1.