What Is DigiByte? What Will Be the Right Time to Invest in DGB?

Overview

DigiByte (DGB) was developed by Jared Tate, also known as “DigiMan,” who saw the development to the current state. DGB is a well-known cryptocurrency and public blockchain that uses five types of algorithms for improving security. DGB was initially being aimed at enhancing Bitcoin’s blockchain’s security, transaction speed, and capacity. It consists of three essential layers – a public ledger, an intelligent contract “App Store,” and its core protocol that features nodes that communicate with the transactions.

A Brief History of DigiByte

DigiByte is an open-source blockchain that aims to diversify speed and security possibilities. Here is the brief history of DigiByte –

  • DigiByte was officially launched in 2014 January.
  • Segwit was activated in 2017 April on DigiByte, by becoming one of the first significant altcoins to start it.
  • DigiAssets was launched in 2019 May.
  • DigiByte foundation was established in 2020 February.

Features of DigiByte

Let’s look at a few features of DigiByte –

  • Using SegWit, DigiByte separates the information stored within the block and the transaction confirmation, increasing the transaction speed. It is considered the fastest public UTXO blockchain that has block timings of 15 seconds. 
  • One of the core features of the DGB is decentralization, and it has more than 100,000 servers, phones, nodes, and computers worldwide.
  • The general blockchain design restricts the scope and size for increasing the speed and efficiency, but it secures the network. DGB’s transaction limits can be increased to handle several transactions per second compared with Bitcoin transaction limits.

Technology of DigiByte

  • Just like Bitcoin and Ethereum, DigiByte is a well-known cryptocurrency that is developed on blockchain technology. The project is designed with five mining algorithms, where the project has been developed and implemented.
  • DigiByte is one of the first blockchain projects to install SegWit (segregated witness). This implies that the transaction’s confirmation is separated from the information stored within the block, which helps achieve faster transactions.
  • DigiByte has been tested for more than six years and has proven that the security offered by its blockchain is accurate and secure. One of the unique features is that the blockchain uses five mining algorithms, while others use only one. This helps in preventing mining centralization and makes the network decentralized and more secure.

What Will Be the Right Time to Invest in DigiByte (DGB)?

According to experts, DigiByte is referred to as one of the popular cryptocurrencies that have several benefits. It is faster when compared with other cryptocurrencies; unlike Bitcoin that takes 10 minutes to confirm a transaction, DigiByte takes less than 15 seconds to ensure a transaction. This is what makes it suitable for everyday transactions. Moreover, it has a strong network community that improves the technology where there is more scope for growth. As analyzed by experts, the price of DigiByte might go up in the next five years, now is the right time to invest in DGB.

DigiByte Price Forecast

DigiByte ranks #60 according to the CoinMarketCap; the current price of DigiByte is 0.15 USD with 24-hour trading volume; in the last 24 hours, it is up 6.28%. Let’s check out the DGB Predictions analyzed by experts.

  • DigiByte Price Prediction for 2021

The year 2021 initiated DigiByte with a price of $0.025, and it maintained an uptrend. The price rose to $0.08 and fell $0.05 by February 2021. DigiByte price reached an all-time high of $0.1647 by mid of April 2021.

  • DigiByte Price Prediction for 2022

Experts predict that DigiByte price might start at $0.18 in the year 2022, and if it concentrates on transparency and attracts more investors, by the end of the year 2022, the price might hit the mark of 0.2 to 0.25 USD.

  • DigiByte price prediction for next five years  

In the next five years, the DigiByte price forecast analyzed by CryptoNewsZ.com’s experts remarks that the price might improve drastically if it concentrates on offering a user-friendly platform and enhances the users’ security. They also predict that by the end of 5 years, DGB might be trading at a value of $1 to $5 mark.

Wrap Up

DigiByte is a notable digital currency like Bitcoin and Ethereum, developed on blockchain technology. It has been extensively recognized as one of the safest cryptocurrencies in the market space. DigitByte can be traded as an altcoin, and it is available on numerous exchanges, and it operates on a faster blockchain which is more secure than Bitcoin. The main goal of DigiByte is to reach out to a more extensive decentralized community than other cryptocurrencies. Further, DigiByte’s Price forecast depends on events like regulation, new partnerships, and improved technology. Hence, the user needs to watch out before proceeding with investing in DigiByte. 

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