- DigiByte is a crypto project which improves on the Bitcoin blockchain to bring more security, speed, and scalability
- The DigiAssetX and DigiAssets v3. are currently in development and will bring significant improvement to the Digi Network when launched
- Coinbase has announced DigiByte as a cryptocurrency it would like to list, but with no real date yet
- The DGB coin has been on fire in the last 7 days, soaring by more than 26%
DigiByte is a longstanding public blockchain and cryptocurrency having launched in January 2014. The DigiByte project implements five algorithms to become more secure, faster, and support more scalability than the Bitcoin network. Currently, DigiByte boasts speeds 40 times faster than Bitcoin.
The implementation of multiple algorithms makes DigitByte similar to many other blockchains. DigiByte coin can be mined with consumer-grade hardware. Users can design decentralized applications (dApps) for customers using its custom suite of smart contracts, as well as create customizable crypto assets known as Digiassets.
DigiByte Recent Developments
DigiByte entered August completing a huge milestone; the announced completion of a huge chunk of the anticipated DigiByte v8.22 project. After developers completed the upstream merge of BTC v22 into the new DigiByte v8.22, it was announced that the upgrades passed the test.
DigiByte completed the week by trending on Twitter as one of the top cryptos. As a result, the social engagement of DigiByte spiked by more than 192%, reaching its highest point since May 2021.
There are a number of future events for the DigiByte community to look forward to. DigiByte update version 8 (v8.) is currently being worked on.
The DigiAssetX and DigiAssets v3 are still in development. While this is exciting news to look forward to, DigiByte is yet to announce a time frame for the completion of these projects. HODLAssets is using DigiByte in their NFT marketplace.
A DigiByte partner, ThreeFold (peer-to-peer internet ecosystems), has been teasing some DigiByte development news. The initial collaboration between both projects was to work towards creating consumer and enterprise-grade projects on the ThreeFold Grid. However, there has been no news ever since.
Earlier in the year, Coinbase dropped a list of cryptos that it will be looking to add to its platform, including DigiByte. Reports are that we could see DigiByte listed on the leading crypto exchange anytime soon.
On The Flipside
- Despite being one of the oldest blockchain projects, DigiByte has struggled to impose itself in the crypto world.
- While the project makes major improvements to Bitcoin, XRP, and Litecoin, it lacks the popularity of the leading cryptos.
- In terms of market cap, DigiByte is ranked as the 86th largest, with a market cap of $1.03 billion.
DigiByte (DGB) has been in the news this week for being one of the top-performing cryptos. Over the last 7 days, it has spiked by 26%; from $0.052 on August 9 to $0.07 on August 16. Over the last 24 hours. DGB is up by more than 5%.
Price Chart of DigiByte (DGB) over the last 7 days. Source: CoinMarketCap
The trade volume of DigiByte has also seen remarkable spikes in the last week. On the 9th of August, $28.6 million worth of DGB was traded in 24 hours. On the 13th of August that value reached $100.2 million.
The DigiByte Foundation refers to itself as a community and not a company, hence the amazing community involvement and support for the project. Because DigiByte is an open-source platform, discussion about code base improvements happens in GitHub issues, in the Protocol channel on Gitter, and on pull requests.
The DigiByte community was actively involved in the last upgrade. Contributions towards the development of DigiByte’s core projects come from the community in the form of peer review, testing, and patches.
Why You Should Care?
With its future events – DigiAssetX and DigiAssets v3 – DigiByte is gunning for the mass adoption of the DigiByte Blockchain which holds more promise than conventional blockchains.