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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…