According to the data provided by CoinMarketCap, DGB is currently priced at $0.0185. It boasts of a market cap of $244 million and holds the 36th position in the market. Over the last 24 hours, this cryptocurrency has attracted a trading volume of $15 million. DigiByte was created to have a maximum supply of 21 billion coins but over 13 DGB coins are currently in supply.
DigiByte refers to an open-source blockchain that was incepted late 2013 and launched in the first quarter of 2014. It is regarded as one of the fastest cryptocurrency projects in the market. It prides itself on being the “longest and most decentralized UTXO blockchains in existence.” It is essential to note that DigyByte was never pre-mined neither was it launched through an ICO; a factor that makes it stand out among its peers. DigiByte was launched in 2014 by Jared Tate according. The project’s genesis block was mined in January 2014 and marked the official launch of DigiByte. Besides, this was the beginning of an exciting journey in the cryptocurrency universe. There was an upgrade in February 2014 that saw the activation of “DigiShield” in order to “use real-time difficulty adjustment against hash fluctuations.” Another significant upgrade to the network took place in December 2015 leading to the reduction of block time to 15 seconds, hence supporting faster transactions. Intriguingly, DigiByte was the first cryptocurrency to activate SegWit before both Bitcoin and Litecoin. In a bid to compete with platforms such as Ethereum and EOS, DigiByte development team went ahead to launch “DigiAssets,” a decentralized platform that opened the network for decentralized issuance of assets and more. The development of DigiByte has never stopped since its launch and has no plan to do so in the coming years. The development team continues to explore different ways that will keep DGB at the forefront of innovation especially in the digital currency industry.
The network is built using three robust layers. These three layers ensure that “the network infrastructure, security, and communications to function with cutting edge speed.” The layers include the above-mentioned applications/DigiAssets (top layer), the digital asset/public ledger (middle layer), and core/protocol/Global network (bottom layer).
DigiByte commenced trading on Binance in the first quarter of 2018, following the 2017 cryptocurrency parabolic rally. From an initial price of $0.0156, the crypto hit highs of $0.0539 in July 2018. Unfortunately, this marked the end of the bull-run. Besides, DGB/USD has never hit these levels again. Like the majority of cryptoassets in the market, DigiByte followed an almost never-ending breakdown for the rest of 2018. Various support areas were shattered including $0.03, $0.02, and $0.01. Price-performance in 2019 was not different from the previous year as DGB/USD thinned, closing the year around $0.0052. The trading in 2020 has been quite eventful with recovery from the levels at the beginning of the year first rising to $0.0089 (in February). The widespread cryptocurrency breakdown in March forced DGB into another painful spiral to $0.0022. The good news is that recovery has been forthcoming as DigiByte almost hit highs at $0.03 on May 4, 2020. At the time of writing, DigiByte is exchanging hands at $0.018 following the minor correction from the aforementioned May highs.
The truly decentralized nature of DigyByte is a core feature of the network that makes DGB stand out among other digital assets. The network has no central authority. In fact, any exchange can list DGB without seeking any permission from the developers. The development of DigiByte has never stopped over the last six years. At the moment, the team is working on numerous projects and upgrades that will continue to add value to the network. According to a recent tweet by the team, features such as Coinjoin /mixer, mobile and CPU mining, DigiAsset dividends pans iOS DigiAssets are being worked on. Some users have gone ahead to say that DigiByte is the cryptocurrency that Bitcoin (BTC) was envisioned to be.
CoinFan remains optimistic in regard to DigiByte performance in 2020. The site reckons that DGB would rise to levels around $0.4485 by the end of 2020. On the lower side CoinFan believes the price will hit $0.35.
A renowned cryptocurrency analyst says that DigiByte has the potential of hitting highs of $20 by the end of 2020. If this prediction was to happen, DGB will have to attract a market cap of $220 billion, making it the most valuable crypto in the industry.
According to the above predictions and the development of the network, DigiByte has the potential to surpass the $1 mark.
Digibyte price is $0.018 at the time of writing. The token has a market cap of $244 million and features a 24-hour trading volume of $15 million.
You can purchase DigiByte on various cryptocurrency exchanges including Coinbase, Binance, and Bittrex.
Its development track over the last six years shows resilience. Its capable development team is the reason DGB will not only survive but also thrive.
Over the next couple of years yes! As adoption continues, the value will continue to grow, and eventually, it will hit $10.
© 2019 CoinGape. All Rights Reserved. CoinGape. com is operated by SquadX Innovations Pvt. Ltd. Address: gold Souk Mall, Sector- 43, Sushant Lok, Phase- I, Gurugram, Haryana 122002