Digibyte is being developed to enhance certain aspects of both Bitcoin and Litecoin networks. Bitcoin transactions are much slower compared to Digibyte cryptocurrency. This cryptocurrency mainly focuses on the hiked transaction fee, transaction speeds, and massive volatility, making it a problem to utilize these digital assets as a payment method.
Note that this network is one of the few decentralized, unlike the top 100, which are mostly “centralized” despite being on the blockchain.
Today’s DigiByte price is $0.010973, with a 24-hour trading volume of $8,851,001 USD. DigiByte is down 3.38% in the last 24 hours. The current CoinMarketCap ranking is #150, with a live market cap of $171,169,945 USD. It has a circulating supply of 15,598,536,193 DGB coins and a max. supply of 21,000,000,000 DGB coins.
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What is DigiByte (DGB)?
DigiByte refers to an open-source blockchain and an asset creation platform. Digibyte blockchain argues that other blockchains like Bitcoin and Ethereum are not secure or scalable enough.
However, it asserts that it has a tested and proven solution that is quicker and safer than its rivals. Digibyte refers to a blockchain network established on three separate layers. The covering layer is for smart contracts, DApps, and adjustable tokens DigiAssets protocol. The intermediate layer refers to the public ledger where DigiByte’s native token, DGB, can flow across the entire blockchain and acts as the base asset. The DigiByte platform’s heart is the lowermost layer, including decentralized nodes, client software, and communication.
The founder, Jared Tate, has been working on DigiByte from 2013 through 2020. However, the Genesis block was officially launched in 2014 as a Bitcoin hardfork. Having been in operation for over five years now, DigiByte demonstrated that its protection as a blockchain technology network is authentic.
Digibyte’s Unique Feature
The unique feature of the global DigiByte blockchain is that it utilizes five DigiByte mining algorithms while most blockchains only use one. The five separate mining algorithms protect the network from mining centralization and enhance its security. These algorithms include SHA256, Scrypt, Groestl, Skein, and Qubi.
On top of the multi-algorithm mining, the Digibyte blockchain asserts that it possesses the most advanced difficulty stability than any other modern blockchain. The progressive difficulty adjustment feature shields the network from vicious attacks and reinforces its security. Thus Digibyte (DGB) has favorable future price predictions.
DigiByte’s primary goal is to provide the crypto community and even financial institutions with a new and more secure means of settlement. It seeks to promote decent transaction speed along with tight security protocols. Thus, it seeks to dominate the cryptocurrency markets.
DigiByte transactions are fast, and it is one of the safest cryptocurrencies. The DGB team will aid in linking these financial institutions with tech gurus and digital asset users globally. DigiByte blocks were designed as a flexible, secure, and adaptable infrastructure that will introduce fresh features and services to the blockchain industry.
Although currently, the crypto asset rests at a 24-hour trading volume of $233,731,200.36. Dash’s price is currently around $154. You can buy Digibyte at any major crypto exchange as it is a profitable investment and might see a price rise soon.
DGB future developments
DigiByte seems to be performing more amply compared to some other cryptocurrencies in the market. Although the digital currency suffered significant deficits during the March 2020 crash, it successfully recovered and has put it in a strong foothold as others struggled to get back to where they were before the crash. DGB token has been among the top performers since the COVID-19-instigated market crash, and its future outlook is encouraging.
Even though the team does not have a real roadmap, they have several development ideas under consideration. First of all, they are exploring a mining algorithm swap. The network currently utilizes five separate mining algorithms, and the developers are considering modifying one of them to decentralize mining even further.
The main development goal on the list of agendas is the DigiByte team term “Core 4.1.3”.The protocol’s successful development will allow users to create and run a smart contract on the Digibyte blockchain. This could be huge for DigiByte, and it will most probably drive the value of the virtual currency.
DigiByte asserts that it is actively looking to collaborate with corporate organizations. If large companies were to adopt the DGB token, it would massively influence the Digibyte price. In 2018, the blockchain firm employed a public relations agency’s services to push its brand. This was a superb move and helped DigByte enter new partnerships.
In 2018, DigiByte partnered with Investa UK to integrate DGB tokens in its debit cards and ATMs worldwide.
In July 2020, DigiByte revealed that it collaborated with Three Fold, accelerating decentralized peer-to-peer internet plans. As per the official announcement, the partnership between the two aimed to accomplish their shared vision of a world that would empower humanity.
The DGB token is now supported by multiple top exchanges such as Binance, Coinbase, Bittrex, OKex, etc. These platforms support the trading of DGB tokens in cryptocurrency or fiat currency pairs. Although DGB has not attained the exchange ubiquity of top cryptocurrencies such as BTC and ETH, the token is now supported by over 55 crypto exchanges, excluding the multiple platforms that have chosen to apply its technology.
Community is perhaps DigiByte’s biggest strength. Its myriad members are very vocal on social media networks and regularly vote for DGB to get listed on exchange platforms. A DigiByte Awareness Team was initiated to serve as a community-driven outreach drive to boost the network. The objective is to foster the DigiByte network’s proliferation via education, meetings, holding events, and various other awareness-raising activities.
Will DigiByte succeed?
The system for evaluating the value of a digital asset is yet to be leached out by investors. In reality, the average conventional investor is not aware of the availability of these tokens. As such, DigiByte presents an excellent opportunity for investors who think laterally. From a technological point of view, DigiByte is a coding masterpiece.
The DGB token is arguably the quickest, safest, and most safe blockchain existing. For this reason, the network provides boundless opportunities for individuals seeking to develop on top of the DigiByte network. Several developers are currently employing DigiByte’s technology, such as V-ID, Docusign, Digi-ID, and Digi-Assets, to develop decentralized applications with different applications.
Digi Assets could probably deliver immense value to DGB holders and the entire ecosystem. Users are required to give up a portion of DGB coins to issue a Digi-Asset. This forms a different use case for DGB tokens besides speculating. In 2017, Ethereum price massively gained because it required investment in initial coin offerings ICOs. This is because there was a real-world application that forced people to acquire ETH tokens.
Additionally, the DigiByte decentralized application is capable of running a smart contract similar to the Ethereum blockchain. Jared Tate has already expressed his desire to support solidity to attract more developers to build on the DGB blockchain. This will specifically play a vital role in the trajectory development of the network.
Like thousands of other blockchain projects, DigiByte price could eventually fail. Currently, there is not enough developer activity on the DigiByte blockchain, which is a big concern. Influential DGB community members and the DigiByte Foundation should put more effort into recruiting more developers into the network.
Overall, DigiByte is a promising blockchain crypto project because it epitomizes the characteristics of true decentralization. DGB keeps a weather eye on blockchain development compared to other projects and advocates for adoption. Surprisingly, its native token has not performed better in the market and is, therefore, a good investment.
History of DigiByte hard forks
DigiShield – block 67,200
DigiShield was activated back in Feb. 2014 after the DigiByte blockchain launch to enable the blockchain to safeguard multiple pools that mine massive amounts of DigiByte at minimal difficulty. DigiShield accomplishes this by recomputing the block difficulty across all blocks, allowing prompt correction if a multi-pool starts or stops providing to DigiByte, instead of recomputing once every two weeks like in the case of the world’s leading cryptocurrency Bitcoin. The DigiByte team helped Dogecoin successfully execute DigiShield in 2014, prompting more than 20 other blockchains like Ethereum, Zcash, Bitcoin Gold, and Bitcoin Cash, and others to add it.
MultiAlgo – Block 145,000
This hard fork was triggered back in Sept. 2014 to allow multialgo mining of DigiByte to fit in the different mining modes such as ASIC mining, GPU, and CPU mining.
MultiShield – Block 400,000
This hard fork was triggered back on December 10th, 2014. This hard fork had the task to activate DigiShield across the new MultiAlgo platform and accomplish the same goals on all five mining pools
DigiSpeed – Block 1,430,000
The hard fork was initiated back in December 2015 and aimed at increasing the speed of the DigiByte coin. The Digibyte block time for confirming transactions was by 50 percent to 15 seconds.
Odocrypt – Block 9,112,320
The hardfork was triggered in July 2019, giving birth to Odocrypt, a unique FPGA-friendly hashing algorithm. The algorithm is designed specifically for Digibyte and adjusts after every decade as an anti-ASIC approach.
Brief history of DGB price over the years
Digibyte All-time performance,
DigiByte’s native token DGB was introduced into the market back in 2014. DigiByte price remained at $0.01 for a couple of days before dropping even further towards $0.0003. The altcoin did not excel during its early days, and most investors opted to acquire other, more prominent digital assets. Nevertheless, the DigiByte cryptocurrency began to grow gradually and started amassing capital.
Digibyte (DGB) hovered within $0.0003 for about three years before spiking during the spring of 2017. Investors who acquired DGB early made a three-fold profit when the Digibyte price reached $0.001. For once, the DigiByte cryptocurrency market cap started to spell tens of millions of dollars.
During the fall of 2017, a well-known payment platform Paytomat added support for DGB. On top of that, popular crypto exchanges listed the cryptocurrency. As a result, the DGB price started growing more resolutely.
Early into 2018, the price of DGB reached a record high of 13 cents per DGB token and $1.2 billion in total market capitalization. Unfortunately, the pull-back phase knocked in and drove the cryptocurrency downwards. The sharp retracement transformed into a broad bearish trend, and indicators dropped.
Another notable pricing event occurred when the price of DGB rose from $0.017 to $0.049 in April 2018, gaining more than 185 percent. Afterward, its price plummeted to a low of $0.004 in 2020. In January 2021, one DGB traded at $0.025 after a substantial rally. At the time of writing, one DigiByte token retails at $0.043.
DigiByte Technical Analysis
Digibyte price analysis shows rising signs as the market shows downside risk. As a result, the bears have obtained control of the Digibyte market, which might change the course of the market for the worse as bears gather to decline the price, and DGB now expects a positive period to take over in the next few days. As a result, the bears will do everything they can to maintain control. Moreover, the DGB price has experienced increasing dynamics in the last few hours.
The market shows the price of Digibyte crashed yesterday to the $0.0108 mark and further increased to $0.0112. Digibyte continues a positive movement. Moreover, the next day, Digibyte prices crashed and reached $0.0111. The current price of DGB is $0.0111.
Digibyte price analysis illustrates that the present condition of the market demonstrates bullish potential as the price moves upwards. Moreover, the market’s volatility follows an increasing movement, making the cryptocurrency more susceptible to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.014, serving as the strongest resistance point for DGB. Conversely, the lower limit of Bollinger’s band is present at $0.0102, serving as a support point for DGB.
The DGB/USD price travels under the Moving Average curve, indicating the market is following a bearish movement. However, as the market experiences increasing volatility today, the Digibyte price has more room to preserve the negative trend; however, that also means that the cryptocurrency has more room to move to the positive side. In addition, the DGB/USD price seems to move upward, signifying an increasing market with consistent dynamics.
Digibyte price analysis reveals that the Relative Strength Index (RSI) score is 44 making the cryptocurrency fall in the lower-neutral region. Furthermore, the RSI score moves upward, indicating that the buying activity exceeds the selling activity while moving towards stability.
Digibyte price analysis shows bearish momentum and further bearish potential. Moreover, the bears have shown their deterrence and might take control of the market soon for the long term as the market shows massive signs of any change. Therefore, according to this analysis, Digibyte is expected to have a bright future, with the bulls taking the bears completely out of the picture, provided the price breaks the market.
DigiByte Price Predictions by Authority Sites
By the start of December 2022, the DigiByte price is anticipated to reach $0.030. The anticipated lowest price is $0.0327, with a maximum price of $0.040. According to the DigiByte pricing projection for 2022, the average price will be $0.038 by the year’s conclusion.
Tech News Leader
Price forecast according to DigiByte by Tech News Leader, the cost of 1 DGB might drop below $0.03 in a year. The highest price of DigiByte, according to the short-term technical analysis price estimate, is expected to be $0.06. Our prediction for the price of a DigiByte (DGB) in 2022 is $0.041, with an average price of $0.15 during the following five years.
The DigiByte DGB price prediction algorithm predicts that the price of DigiByte (DGB) will rise sharply based on past input data for the price of DigiByte (DGB). And with a 156.46% shift by the end of 2022, the DGB price may be about $0.0629. By the end of 2027, the price of DigiByte may have changed by 554.91% to be about $0.1605.
Digibyte Price Prediction 2022
In 2022 the price of DigiByte is predicted to reach a minimum price of $0.014. The DGB price can reach a maximum level of $0.015 with an average trading price of $0.014 in the crypto market.
Digibyte Price Prediction 2023
The price of DigiByte is predicted to reach a minimum level of $0.022 in 2023. The DigiByte price can reach a maximum level of $0.025 with an average price of $0.023 throughout 2023.
Digibyte Price Prediction 2024
In 2024 the price of DigiByte is predicted to reach a minimum level of $0.033. The DGB price can reach a maximum price level of $0.038 with an average trading price of $0.034.
Digibyte Price Prediction 2025
The price of DigiByte is expected to reach a minimum level of $0.047 in 2025. The DGB price can reach a maximum level of $0.057 with an average price of $0.049 throughout 2025.
Digibyte Price Prediction 2026
DigiByte price is forecast to reach the lowest possible level of $0.069 in 2026. As per our findings, the DGB price could reach a maximum possible level of $0.082 with the average forecast price of $0.071.
Digibyte Price Prediction 2027
In 2027 the price of DigiByte is forecasted to be at around a minimum value of $0.099. The DigiByte price can reach a maximum of $0.12 with an average trading value of $0.10.
Digibyte Price Prediction 2028
The price of DigiByte is predicted to reach a minimum value of $0.15 in 2028. The DigiByte price could reach a maximum value of $0.18, with an average trading price of $0.15 throughout 2028.
Digibyte Price Prediction 2029
In 2029 the price of DigiByte is expected to reach a minimum value of $0.21. The DGB price can reach a maximum price of $0.26 with an average value of $0.22.
Digibyte Price Prediction 2030
The price of DigiByte is predicted to reach a minimum value of $0.33 in 2030. The DigiByte price could reach a maximum value of $0.37 with an average trading price of $0.34 throughout 2030.
Digibyte Price Prediction 2031
DigiByte price is forecast to reach the lowest possible level of $0.49 in 2031. As per our findings, the DGB price could reach a maximum possible level of $0.58 with the average forecast price of $0.51.
Digibyte Price Prediction by Industry Influencers
Entered the market in 2014, DigiByte remained stable with consistent performance until 2017. Entered the 2018 market with a spike. Early reached May at $.05. Fewer stabilities until December culminating in the stability for the year 2020. The Chinese market impacted DGB costs for succeeding years.
Comment from a Redditor
DigiByte comes to me something like a “hidden gem” that I just want, no matter the price. I like its speed, low fees and, first of all, DECENTRALIZATION. I will also be very happy if you write me some more interesting information about DGB that I may not know. Of course, I did DYOR and found a few interesting things e.g. that this cryptocurrency basically doesn’t have a CEO etc.Redditor
DigiByte is a top 100 altcoin that attracts investors. Institutional and ordinary investors may drive its future worth. With an annual inflation rate of over 11% and 21 billion DGB tokens, it will take a big surge for DigiByte coin price to exceed $1. To add 70 times its present market price, the crypto must outperform or match Bitcoin.
DGB’s supply, speed, transaction cost, and multi-algorithmic mining meet my criteria. Multi-algo mining enhances Digibyte’s decentralization, which is key to any crypto. Seeing DGB rebound 30% while other cryptos were in the negative tells me demand is still there and investors understand Digibyte’s fundamentals. As long as demand remains, the development will continue.
Considering the massive yearly inflation rate of over 11 percent and the colossal supply of 21 billion DGB tokens, it will be an extraordinary and groundbreaking rally for DigiByte coin price to hit $1. The crypto should add over 70 folds of its current market price, and to do this, it has to take out or match the Bitcoin price movement.
DGB fits the criteria regarding supply, speed, cost of the transaction, and its multi-algorithmic mining. Its multi-algo mining boosts its decentralization which is the main importance of crypto, not just Digibyte. Seeing how DGB recovered 30% when most cryptos were in the red still tells us that demand is still there, and investors understand Digibyte’s core. The development will come as long as the demand is still strong.
Many analysts believe that the progress of Bitcoin and Ethereum may stand in the way of DigiByte. However, it is only time before DGB shows its performance on the crypto market. As stated before, Digibyte would have to do better than before to build partnerships and collaborations that increase visibility and infuse more funds into the project, making it relevant for all the users and investors alike. Meanwhile, enjoy the hold.
In order to verify information, go beyond what is being shared on social media sites, as these are not necessarily reliable sources.