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Digibyte (DGB) Blockchain Potential and why it’s a safe investment for 2018
It is no secret that top altcoins like Ripple, Ethereum, and Litecoin are the envy of most crypto projects simply because they are able to attract a large number of investors thanks to their popularity. Just ask any crypto investor and they will reveal that the small altcoins on CoinMarketCap’s top 100 lists are a huge risk to invest in. Mostly they are either full-out scams or just lower-tier Blockchain projects. However, in an attempt to avoid throwing the baby out with the bathwater, there are certainly hidden gems among altcoins that are otherwise overlooked. One such altcoin is Digibyte (DGB).
Digibyte has been a silent riser for quite some time. Since the time it was officially launched in 2014, the altcoin has managed to build a reputation as one of the fastest and most secure UTXO Blockchains, built on its own Blockchain network (unlike most altcoins that are forked from Bitcoin). In fact, in terms of decentralization, security and long-term potential, Digibyte stacks up so well against Bitcoin and other heavy hitters of the crypto space.
Digibyte’s Blockchain Vs Bitcoin
For instance, where Bitcoin’s average block time takes up to 10 minutes, Digibyte delivers more speed at 15 seconds. Scalability is also not a problem for Digibyte as it can comfortably handle 560 transactions every second where Bitcoin taps out at about 7 TPS. By 2035 the Digibyte team plan to have 21 billion coins mined meaning it’s a much better payment option thanks to over 100,000 nodes that currently manage transitions on its network.
It gets even better when it comes to mining and security on the Digibyte’s network. Recently there have been reports of 51% attacks on Verge XVG coin. A 51 percent attack is basically a situation whereby a hacker, with enough computing power, is able to control a Blockchain network by either reducing the difficulty level of mining and managing to mine coins from the network at the lowest difficulty or shutting down the entire network completely. These recent events on Verge XVG, have led to rising concerns among cryptocurrency enthusiasts with most altcoins being scrutinized for their level of security.
How DGB’ Blockchain measures up to other altcoins
According to Crypto51.app, it would take you less than $10 worth of hashing power to attack cryptocurrencies like Orbitcoin, WorldCoin, Quark. It gets even worse knowing that these cryptocurrencies are worth millions in terms of market capitalization. Simply put, a hacker is incentivized to launch an attack.
Once again, this is where Digibyte shines as it has an adaptive difficulty adjustment set to change in real time as opposed to Bitcoins 2 week delay. Additionally, Digibyte uses five separate mining algorithms that are weighted equally with individual difficulty adjustment. Digibyte also boasts of being a pioneer of this technology and calls it the Multishield.
For a hacker to be able to attack Digibyte’s Blockchain network, they would need to control 93% of each of the mining algorithms and also take up 51% control of the entire network. This is not only difficult for a hacker to execute, but also quite costly in terms of hashing power. Ultimately Digibyte makes it very difficult for an attack to occur on its Blockchain.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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