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DigiByte (DGB): Hidden Potential or a Sleeping Coin?

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DigiByte
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After DigiByte got a boost in the form of the latest positive changes in its price, potential investors got a bit more interested in investing in this coin. This is a huge step for DigiByte as this coin is said to be unknown in the world of cryptocurrencies. So, what is DigiByte and does this coin has hidden potential, or is it just a sleeping currency?

Everything you need to know about DigiByte

DigiByte is a blockchain based layer that is using five different mining algorithms at the current moment. These algorithms are there to enable maximal security and undeniable safety for as a blockchain based technology, DigiByte has the same goal as Bitcoin and other similar currencies – and that goal is to deliver a unique experience of being able to perform fast transactions within the blockchain based network.

DigiByte is stepping up its game with a couple of different layers, so we have digital asset layer and the application layer. The application layer serves the purpose of having the ability to create decentralized apps, commonly known as Dapps.  That means that this layer can be considered as a form of an application store, much like Google Play Store. Ethereum, just like DigiByte, also enables users to create, upload and download applications specially made for blockchain based networks.

However, DGB isn’t as massive as ETH and Ethereum is a large platform that hosts several coins across its platform, unlike DigiByte.

This layer, however, also makes centralized applications possible to make and distribute across its blockchains, which is considered to be a fine business move made to attract companies to invest in DGB and use DigiByte layers.

The first layer we have mentioned, the digital asset layer, enables users to communicate across the blockchain network on a daily basis, that way enabling fast and easy interaction between users who choose to interact.

So, you can conclude based on what DigiByte represents that this blockchain network isn’t just out there for the sake of solely existing and hoping to get some profit. The developers behind DGB had thought through all the details that eventually helped them design a pretty neat and easy to use a currency that runs on nodes and makes for a safe way of making transactions in a new decentralized fashion.

How well is DigiByte doing at the current moment?

The reason we have decided to mention DGB once again is the fact that this coin has seen some improvements when it comes to the terms of having its price raised at the beginning of February of the following year of 2018.

Within this period, DGB has managed to reach an amazing boost that went up to over 70%, consequently raising its price against the dollar. However, the latest change in the price that occurred in the last 24 hours is slowly changing the newly acquired success in price as DGB has fallen for over -2% against the dollar while it fell for over -5% against BTC.

The reason why DGB might not be that interesting for the general public, although it started to get more points on popularity with the latest rises in price might be the fact that this coin in many ways imitates Bitcoin.

This fact is not entirely true despite the general opinion, as DGB developers implemented some additional protocols and functions in the form of layers that gave this currency an almost unique profile in the world of cryptocurrencies.

Whatever the case if, DGB is now worth 0.043$ per one unit, which makes it a nice opportunity for bulk investments.

DigiByte Future Projects

What might persuade you that DigiByte is more than just a sleeping coin, is the case of the latest announcements of various partnerships and projects DigiByte is planning on launching in the following two years.

That is how DigiByte has announced the arrival of several projects as seen on their official website. So we have DigiMessenger – this project should enable easier communication in the form of decentralized application similar to traditional messenger apps. Besides from DigiMessenger, you can look forward to Digi-ID, Digi-Bot, Digi-Hash, Digi-Playground, DigiSeeder and more projects that you can check on DigiByte’s official site.

With the announcement of DigiByte foundation programs like the ones mentioned above, you can also take advantage of foundation core programs made in the form of Partnership Program, Ambassador Program, Development Team and Board of Advisors. All of these core foundations are made to enable better functionality, updates within the running software, easily making partnerships with companies, individuals, and investors and well as recruiting local ambassadors to promote DigiByte and its core ideas.

It seems that the development team behind DigiByte is stepping up their game, possibly stating that DigiByte doesn’t exist as an imitation of much older Bitcoin, but rather has bold developmental plans that could draw in more serious investors.

Do you think DigiByte has a hidden potential? Or instead in for a case scenario where DGB will go back to sleep for another four years of somewhat passive existence?

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.

Image courtesy of coinmarketcap.com

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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