Connect with us

Blogs

Digibyte (DGB) Blockchain Potential and why it’s a safe investment for 2018

Published

on

Digibyte
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite