Digibyte: Designing a universal crypto coin
Created in 2014 by Jared Tate, Digibyte (DGB) is a coin like few others in the crypto market. DGB is designed to be mass-adopted, its strengths lay exactly in those areas which have proved to be problematic for other major cryptocurrencies such as Bitcoin.
Unlike other coins, DGB had no ICO or pre-mining. It is largely decentralized, which means full user autonomy. Founder Jared Tate has already made it clear that DGB was not intended to be only a form of payment, but instead a highly secure and user-friendly crypto coin.
Compared to other tokens, DGB offers multiple advantages, with a stronger user case: DGB can support over 48 million transactions a day –10 times the current transaction capacity of the top 50 blockchains by market cap. DigiByte can handle the expected transactions from several million users instantly, with no changes needed to the existing blockchain. The DGB platform can also support arbitrages and fund remittances.
Furthermore, Digibyte has a strong case for low transaction fees when compared with other players in crypto players.
Despite these advantages, DGB’s unique selling point is its security angle. Digibyte was one of the first platforms to activate Segwit, even before Bitcoin, which had over 230000 installs. DGB’s security system is so complete that there are more than 20 cryptos currently using DGB DigiShield security feature.
Digibyte is aiming to provide cybersecurity for IoT and AI devices, making DGB a leading cryptocurrency, combining Artificial Intelligence alongside its existing Blockchain technology. Projects which are able to develop a blockchain network securing these devices have the potential to grow in value and adoption in the next years.
Digibyte is also attractive from an investment point of view. DGB is one of the favourite altcoins for speculative trading in 2018. Predictions form crypto experts show that DGB has a 42% growth potential by September, and a 132% by the end of the year. It is said that DGB is hugely undervalued at moment “with realistic chances of growing beyond 600%,” according to Crypto Globalist.
All the features — and the promise of mass adoption — make DGB the ideal option for someone looking into investing in a crypto coin with high-return potential within 5 to 10 years.
The Venezuela Crypto Project: How to make cryptocurrencies
Digibyte Foundation was created in 2017 with the aim of applying blockchain to development causes, education and outreach. One of their first missions is to roll out The Venezuela Crypto Project, an ambitious campaign where the DGB Foundation has chosen Venezuela to run a real-life experiment in mass adoption of cryptocurrencies.
DGB has one of the biggest and strongest online communities. DGB followers firmly believe in the future growth of the coin and its ‘humanitarian’ angle: “I want us as a community to show that we’re not going to shy away from a little bit of charity and goodwill, just because cryptocurrency has been in a bear market lately,” says Josiah Spackman, from the Digibyte Foundation.
Their ‘Venezuela Crypto Project’ aims to provide 2 weeks’worth of payment in crypto coin to 300,000 people in the country to show that it is possible to untie economics and finance from politics, and prevent that economic chaos from descending amid political crisis. Mass adoption of cryptocurrencies is the way towards this.
“The project will benefit the population at large, having their minimal wealth and earnings stored in something that will retain most of its value, even as international values fluctuate. Cryptocurrency was chosen rather than other forms of aid, due to the relief it offers from poverty, while at the same time allowing the Venezuelan people to attempt to return their lives to normal. Regular charity is a short-term stop-gap measure, whereas replacing the now worthless Venezuelan Bolívar allows the people to take control of their own finances,” says the Digibyte Foundation’s mission statement.
For the project to succeed, DGB is addressing hindrances such as language barriers by providing services in Spanish, developing a mobile wallet that supports both Android and iOS systems, and extremely low transaction fees.
DBG wants to prove that crypto can create a financial system that is detached from political and economic factors, and international currency fluctuation.
Digibyte founder Jared Tate will be under the spotlight at the next Financial Fox. He will make the case for DGB mass adoption and tell us how cryptocurrencies can re-shape financial systems across the world. Send questions to Stefania@cassiopeia-ltd.com