Sirlibz
Recently we saw DGB do nearly 10x price gains, going from $0.0025 to $0.025 per coin, so we decided to take a deep dive into the project and see what it’s all about.
I’d like to start with the fact that anyone who hasn’t heard of Digibyte might not actually be into crypto full time. Over the years we’ve seen the community support this project with all its got. It is indeed one of the most loved and supported projects out there. This shouldn’t come as a shock to you if you have really done good research on them. On their site we are told it is a volunteer based and global community driven project.
Digibyte is an open source blockchain created in early 2013 and released in 2014. Digibyte also claims to have become one of the most safest, fastest, longest decentralized unspent transaction Output (UTXO) blockchain in existence. To understand what and how a UTXO works, click here. Click here to understand how it works on BTC too.
DIGIBYTE TOKONOMICS
Ticker – DGB
Total supply – 21B
Circulating supply – 13B
Transaction speed/ time – 15secs
RECENT PRICE MOVEMENTÂ
The price of DGB has seen some positive movements recently. It’s hard to see such movements in the Crypto space without a high profile news or release in the crypto space. Some wonder what could have helped make this coin move up in price too. Well, when asked Josiah an admin in the DGB community gave an Honest reply as to what he feels must have helped the price move in this manner, below is his answer to it.
From Josiah’s answer, we could see what he believes has helped the price to make this uptrend movements. He says DGB is basically BTC with another name and that DGB is more secure, faster, and better than BTC. So here is some similarities between DGB and BTC and then you choose which is better.
SIMILARITIES BETWEEN DBG AND BTC
1) Proof of work –Â Bitcoin is proof of Work or rather POW and can be mined, same case with DGB. You can check out the official site for Digibyte to know how the mining works and what tools are available.
2) Halving –Â This is for sure one of the interesting part of BTC. Halving is the process of dividing or cutting out 50% of the total rewards a miner can get for mining or generating blocks. It occurs every 4 years when the block generated on the blockchain hits 210,000 blocks ( 840,000 blocks for LTC). DGB has its halving every month at approximately 175,200 blocks, 1.12% of coins minted are reduced. Here is a fraction of the code explaining it.https://github.com/digibyte/digibyte/blob/master/src/validation.cpp#L1202
3) Transaction Speed/Time –Â For any crypto to gain mass adoption and hopefully be used in a day to day activity then speed and convenience must be a core factor. DGB transactions are confirmed at approximately 15sec which is way faster than BTC where transactions sometimes ranges from minutes to hours depending on the network as at the time of transacting. This for a fact shows that DGB is 40 times faster than BTC.
4) Exchange Listings –Â Every exchange today has BTC as a default pair, no one has to pay to list BTC. It is interesting to know that DGB might have this same favor too to an extent. An article released by CCN in 2019 stated that DGB was listed on 80 exchanges without fees.
Rudy Bouwman, the Secretary and Vice chairman of DGB Foundation Confirmed this even adding that it was over 100 exchanges that DGB was listed without fees. How this happened is not known but it’s great to see such developments in the crypto sphere and the fact that some of these exchanges are those with high demanding fees is something to marvel at.
5) Community support –Â Its a known fact that BTC has a lot of strong supporters even going as far as top influential individuals and leaders in the crypto space such as CZ the CEO of Binance Exchange and the Bitcoin Maximalist Pomp. DGB too has seen some strong support from the community of investors and well wishers it has, they’ve been cases where it was delisted and the community voiced out, they have helped win popular twitter polls and other crypto engagement, there is hardly a tweet asking for what to invest where you wont see a user comment $DGB.
You can find more features about this project on their official Site. With the above we couldn’t agree less with Josiah’s words when he described DBG to be more forward thinking and advanced.
As at time of writing DGB is trading at $0.023 on CMC
