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Digibyte (DGB) paving the way for the future of Blockchain

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Digibyte
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Go to any cryptocurrency and Blockchain circles and you will seldom hear of Digibyte. In fact, there has been a lot of confusion about what Digibyte actually is with most people thinking it’s a new token. Well, Digibyte has actually been in the crypto game for over 4 years and unlike most cryptocurrencies that are forked from popular Blockchains such as Bitcoin or Ethereum, Digibyte boasts of its own proprietary Blockchain. There is more, as old as Digibyte is in the crypto space not once has the Digibyte team raised money through an ICO.

Basically, Digibyte is a decentralized Blockchain that is rapidly growing its Digibyte assets (digital assets on the Digibyte Blockchain that cannot be hacked destroyed or counterfeited thanks to cryptography). The Digibyte can be used for more than just finance. It’s designed to be a digital asset that can securely protect information, digital property or any other important digital data.

Digibyte now ready for cross Blockchain dApps

Yes, that’s right. The announcement first appeared in a tweet by Blocknet. Blocknet is built to be the “internet of Blockchains.” The Blocknet protocol has a peer to peer protocol that enables cross chain interactions between nodes of different Blockchain networks. This means that data between different Blockchains can be exchanged with ease. For decentralized application and exchanges, this feature is quite powerful such that it can allow users to trade all their cryptocurrencies and tokens on a single decentralized exchange.

By allowing for this level of interoperability, Blocknet is enabling growth in the crypto community and also allowing for the development of decentralized applications and exchanges that are free from centralized control. This has been a major issue in the Blockchain space especially between the Bitcoin Cash community and the Bitcoin core (the original Bitcoin community). The lack of interoperability has centralized governance in the Blockchain space making it hard to come up with progressive developments.

DGB sticking to the original principle of decentralization

Although the original principle of Bitcoin and Blockchain technology was built on democratizing control, the opposite has become true in the last few years. For a Blockchain to process transactions on its network, nodes (miners) have to confirm and verify transactions while adding them to the block. Over time, however, Bitcoin’s Blockchain network has had millions of miners such that the competition to earn new Bitcoins by mining has skyrocketed.

This has attracted the attention of top-tier hardware manufactures and as a result, their more powerful technology has given them an edge over everyone else in the network. This is the problem that Blocknet and Digibyte are trying to solve. By adopting a protocol that promotes centralization and interoperability, governance over the network cannot be controlled only by those with powerful equipment as the cryptocurrency (in this case DGB) becomes acceptable on other Blockchain networks. Going forward DGB can be used on multiple Blockchains and on multiple decentralized applications, therefore, giving control over the digital asset to those that own and hold the DGB.

Although Bitcoin is still at the top as the most valued cryptocurrency, coins such as DGB are making huge technological advancements by solving the problems that are currently top of mind of most crypto enthusiasts. After all, the possibilities for a cross Blockchain cryptocurrency are endless and Digibyte in conjunction with Blocknet are at the forefront of this new revolution.

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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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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Altcoins

Ravencoin (RVN) Surges Following Binance Listing

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Ravencoin
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While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.

About Ravencoin

Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.

Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.

Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.

Ravencoin got listed on Binance prior to MainNet launch

Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.

Getting listed on Binance has brought Ravencoin to the top…

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