As an emerging industry, cryptocurrency lacks ability to analyze long-term data. While this is to be expected, it still means that investors are wary to get involved – at least until patterns have been established and technology proven long term. As an example, Bitcoin (BTC) recently discovered major problems associated with both trading volume and chain length. To this end, they are looking to fully incorporate Segregated Witness as a means to streamline their chain.
DigiByte (DGB) is the brainchild of Jared Tate, who set out to create a worthy successor to Bitcoin. Alongside shorter block generation times, the new chain heavily enforced decentralization. To this day, DigiByte continues to have a wider network of validators than most other top cryptocurrencies. In addition, there are five separate mining algorithms that can be used on the DigiByte blockchain. This ensures that no single ASIC mining type can hijack the majority of the chain.
The Longest Blockchain
Due to their short block generation time – only 15 seconds, compared with Bitcoin’s 10 minutes – DigiByte boasts the longest continuous blockchain in the industry. Operational since 2014, they’ve ran head-on into the same scalability issues as Bitcoin itself. They were the first blockchain to integrate SegWit and continue to lead the industry in scalability solutions – albeit quietly.
DigiByte only recently launched their ‘DigiByte Foundation’ aimed at boosting public perception of the venerable blockchain. Despite creating their genesis block a full four years ago, DigiByte has avoided the public eye. Instead, Jared Tate focused all of his energy on creating the best possible product. Now that DigiByte is in a solid position backed by years of stable operation, the foundation can focus solely on greater adoption – both within the cryptocurrency community and without.
Recent DigiByte News
The DigiByte Foundation’s first major project is a charity drive for the severely impoverished nation of Venezuela. The South American country is suffering from a complete collapse of their economy – which resulted in them also being the first country to adopt a national cryptocurrency. Although the Venezuelan ‘Petro’ cryptocurrency is mired in controversy, the same cannot be said of DigiByte’s laudable efforts.
Ripple (XRP) has seen a massive boost to their public image in the wake of several charity events and these shows of good will are critical for the cryptocurrency industry as a whole. The general public remains skeptical – particularly in the wake of the early 2018 crash. These altruistic campaigns are the first step in convincing the general public that cryptocurrency is an industry that can stand alongside more traditional businesses.
Article By: Adam Stone