The Future Of Digibyte DGB Looks Interesting

Even though Bitcoin is the world’s leading cryptocurrency, it’s not necessarily the best form of digital money in existence. Over the years, we have seen hundreds and subsequently thousands of altcoins trying to do things better. Digibyte is one of those altcoins which has been around for quite some time. Its team has focused on creating a more secure, faster, and forward-thinking blockchain technology. Only time will tell whether or not they will be successful in this regard.

The Future Of Digibyte DGB Looks Interesting

Although it would be easy to say Digibyte simply aims to dethrone Bitcoin, that is not entirely correct. The team hopes to bring their blockchain technology to the masses sooner rather than later. The project has been in existence for over four years now, and it is the longest, fastest, and allegedly most secure UTXO blockchain in existence. Putting security first has also been one of the main objectives for Digibyte, and it seems that it will not change in the future.

With Digibyte becoming such a rapidly growing public decentralized blockchain, it is evident this project has a lot of technology to make this all possible. There is a core protocol layer, combined with a digital asset layer, and an application layer. The core protocol layer is capable of supporting all kinds of infrastructures and is mainly used by nodes as a means of communication. Moreover, any computer or mobile device connected to this network becomes a node to help automatically relay transactions.

The digital asset and public ledger layer are what most Digibyte users will interact with on a regular basis. It is the main source of the DGB asset, which cannot be counterfeited, duplicated, or hacked. The project’s public ledger is also immutable, as there is no history of rollbacks or controversial decisions on the part of the developers. It is also worth mentioning Digibyte uses five different mining algorithms as of right now, which only improves the overall security of this layer.

Last but not least, there is the application layer, which can be thought of as an app store for Digibyte. More specifically, this layer allows for the creation of decentralized applications. Additionally, it is also possible to create centralized applications on top of the Digibyte blockchain, which will be of great interest to a lot of companies. Furthermore, this layer also supports smart contracts, which leverage the security of the blockchain as a whole.

According to Digibyte’s, there are some interesting things on the horizon between now and 2020. First of all, there’s the Digibyte Foundation, which will focus on education, outreach, and development. There are also partner programs, the ambassador program, and the board of advisors. Among the Digibyte projects to look forward to are DigiHash, Digibot, Digi-ID, the Emma AI, and DigiMessenger. It is evident there is a very active community behind this project, and big things will come to the market in the future.

While DigiByte has made some serious gains in value in the last year or so (9,400% growth in value since 2014), there is still has a lot of work to do with gaining greater mass adoption. According to their digibyte website, the blockchain will soon move into the AI and IoT space. DigiByte’s security features are expected to be particularly useful for ensuring security on IoT devices and services that require robust communications.

DigiByte DGB Wants to Go beyond Being a Payment Platform

For all the talk of payments and transactions, the key people behind the DigiByte expressed the belief that cryptocurrencies focusing only on these aspects are bound to die an equivalent of slow death. To avoid this, DigiByte plans to gradually move away from payment to expand its native technology to the following fields:

a) Cyber Security
b) Artificial Intelligence
c) Internet of Things

This in focus was recently announced by the DigiByte founder Jared Tate who promised the pairing of the AI technology with the DigiByte blockchain in order to create a network that will serve to protect the IoT and other devices. According to the developers, DigiByte’s scalability potential is what recommends it for the use with the IoT devices which can number thousands and grow in numbers really fast.

While these future plans are still being developed, this is hardly the first time that DigiByte ventures into the world of technologies outside of cryptocurrencies. Back in 2017, DigiByte launched the Gaming division in an effort to promote digital advertising and user engagement in games via micropayments and prizes delivered in cryptocurrency.

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