How High Can DigiByte Go?
By Space Coast Daily // September 7, 2021
In this mad rush of Blockchains, having the safest, fastest, and longest UTXO Blockchain is crucial. One such example is DigiByte, which has no CEO or a company that backs it.
Instead, it is an entirely decentralized global community-driven project. What makes DigiByte different from other crypto coins is its faster process of blocks which occurs every 15 seconds. It is 40x faster than Bitcoin, which takes 10 minutes. In addition, DigiByte is designed in the form of digital assets which cannot be hacked or destroyed.
As the world moves towards a decentralized digital future, the need for a safe globally centralized server has become vital.
What is DigiByte?
In simple words, DigiByte is software designed to work seamlessly and faster than other cryptocurrencies. It is a rapidly growing decentralized BlockChain, and its platform enables users to issue launch applications and assets.
Three different groups are supporting DigiBytes:
1) Open-Source Developers
2) The DigiByte Foundation
3) The Awareness Team
DigiByte as a Blockchain network is divided into three different layers:
1) The top layer is dedicated to smart contracts, customizable tokens, and decentralized applications.
2) The middle layer is for the public ledger so that DigiByte coin can move throughout the network and server.
3) The bottom layer is dedicated to the core infrastructure. It also includes decentralized nodes.
DigiByte was founded by Jared Tate in the year 2013 but was officially launched in 2014. One of the vital aspects of DigiByte is similar to Bitcoin; it uses Unspent Transaction Output (UTXO), a technical method to keep track of Blockchain transactions between different accounts.
Over the years, DigiByte proved that its security is real and makes the transaction easy. There are currently five mining algorithms making the network secured. In addition, DigiByte claims to have the “advanced difficulty stability” designed to protect DigiByte Blockchain against malicious attacks.
History of DigiByte
■ In 2012, Jared Tate got involved with Bitcoin. Later in the year 2013, he decided to do some improvements in Bitcoin’s protocol, resulting in the launch of DigiByte in 2014.
■ The aim of launching this coin was to have a secure and fast Blockchain reaching investors and the community.
■ By the end of 2014, the company activated the MultiShield to extend DigiByte protection in all its five mining algorithms.
■ By April 2017, there were around 275000 full nodes of DigiByte downloaded and 15000 nodes active globally.
■ In 2019, DigiAssets was launched, allowing decentralized issuance of assets and more.
DigiAssets, which is also the top layer of the DigiByte, is designed for Smart Contracts and programmable tokens. Since DigiBytes has high security, the team believes it will be an ideal protocol for the Degasses platform.
DigiByte Price Prediction 2021 and Beyond
The Cryptocurrency market is wholly volatile, and predicting price is quite a tricky business. Nevertheless, DigiByte had a great time in the initial period, especially between December 2017 and January 2018, when it had a value of $0.129 per coin with a market capitalization of approx $1.2 billion.
The DigiByte Price Prediction in 2021, according to crypto experts and Tate, is that value will be around $1 to $10. Similarly, the DigiByte Price Prediction by CoinFan says that by the end of 2021, the market price will be $0.242. Different crypto experts and websites develop the other prediction, which shows how unpredictable the market can be.
If we consider beyond 2021, according to CryptoNewsZ.com, by June 2023, the price will increase to $3.5. Similarly, Crypto Gunter predicts the price of DigiByte will increase by $20 in coming years with a market size of $220 billion.
Future of DigiByte
Since the company believes in technical improvements, DigiBytes has a great future. In early 2020, the company launched DigiByte Foundation for its community. Similarly, the same year it launched the donation platform DigiBee, helping contributors pay towards the development of DigiByte. The future holds in the hands of DigiAssets, and how it is developed. If all goes well, the entire DigiByte system with dApps and ICO will be an integral part.
With having multiple products under its arm, DigiByte has a prominent place in the Blockchain community. In addition, the DigiByte team is working on new developments, which is exciting to wait and watch.