DigiByte’s 5-year journey and what lies ahead
On January 10th, DigiByte celebrated its 5th anniversary and completed 8.000.000 blocks and has become the largest, fastest and most secure blockchain in current existence. DigiByte has a history of constant improvement, living up to its motto of the forward-thinking coin.
Over its 5-year journey, DigiByte has repeatedly improved, setting itself apart from other cryptocurrencies with multiple blockchain firsts such as SegWit, MulitAlgo Mining and DigiShield.
“I’d argue that the DigiByte we have today is the most advanced blockchain in the world , with the most steadfast secure set up,” said DigiByte founder Jared Tate in a reflection of the coin’s five years of development.
DigiByte has one of the strongest use cases in the cryptocurrency market: DGB can support over 48 million transactions a day: 10 times the current transaction capacity of the top 50 blockchains by market cap.
Over recent months, we have seen significant progression for DigiByte, such as the implementation of ASIC Protection for Next-Generation Blockchain Mining to further decentralise the DGB network, as well as the listing on Bitfinex, one of the largest and most important crypto exchanges.
Strong community
Throughout these five years, DigiByte has attracted more and more followers because of its genuine intention to create a financial system centered around people and social value. The community-driven effort and the tremendous faith that all those involved in DGB have in the project are the key factors that make DGB so unique and compelling.
DigiByte today has one of the most connected and engaging communities in the crypto space. DGB followers have set up foundations and networks to spread the word about the mass adoption potential of DigiByte.
Last November, DigiByte enthusiasts based in the UK and Europe had the chance to meet each other for the first time and talk to Jared himself at the first UK DigiByte Event,held in central London.
Decentralisation at the heart of DigiByte
More than a cryptocurrency, DigiByte offers the most reliable blockchain structure to support transactions at an uninterrupted global level.
In fact, the ultimate objective for DigiByte is to re-build the infrastructure of the internet today. Founder Jared Tate believes that an efficient blockchain can solve 90–95% of the security vulnerabilities in the internet today. The centralised databases which support the current system, such as Facebook, Google and YouTube, act as a catalyst for single points of failure. When all the valuable information is stored in one single place, vulnerabilities to hacks and breaches increase, as well as allowing surveillance and data control from central institutions.
The solution to fix the current system would, therefore, be to build a decentralised architecture for the internet, supported by sophisticated and advanced blockchain structures. A decentralised framework is user-centered, not relying on intermediary platforms to connect users and services.
In order to support this new internet model, DigiByte is built in 3 blockchain layers:
- Applications layer: The top layer of DGB to be used in everyday, real-world applications, such as DApps and Smart Contracts
- Digital Asset Layer/ Public Ledger Layer: The layer in which all DGB transactions are stored in an immutable public ledger, providing maximum security.
- Core Protocol Layer: The bottom layers, made of decentralised nodes across the planet, where all communication and operation procedures occur.
What’s next?
The DGB community has plenty to look forward to into the near future. The first global DigiByte Summit will take place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.
Stefania Barbaglio, Director at Cassiopeia Services — official PR for DigiByte commented: “Cassiopeia is thrilled to be organising and hosting the first ever DigiByte Summit next April. DigiByte represents the true power of decentralised technologies: It offers top security, performs transactions faster than any other crypto and has one of the strongest use cases in the crypto market. Blockchain technology has unlocked a new era where decentralised networks and markets empower individuals and change society and the global economy.”
In the long-run, DGB investors can be cheerful as crypto analysts say that Digibyte has the potential to reach $1 as the coin develops and its features become more sophisticated over time.
More than that, we are likely to see the increasing deployment of DigiByte platform to projects such as Antum and V-ID, which power blockchain to provide verification and digital identity services.
Keep an eye out for the upcoming exclusive interview on FinancialFox news with Josiah Spackman, DigiByte Foundation Ambassador. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.
