What Is DigiByte?
DigiByte’s supporters argue that it’s the sleeping giant of cryptocurrency. According to its fans, it’s on the cutting edge of crypto-technology. It hosts a network that’s faster, more scalable, and more secure than other major currencies. Over time, they argue, its superior technology will win out against Bitcoin, Litecoin, and other top digital cash options. The project has a dedicated community and nearly 100,000 nodes across the globe.
On the other hand, adoption over the past four years has been slow. It’s still a relatively obscure currency compared to its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s little technical information about how the network actually functions. It’s difficult to get a sense of the real achievements of DigiByte versus things they have planned for the future.
In this article, we’ll try to dig deeper into the platform – its history, technological specifications, and its achievements. In the end, you’ll have to make your own decisions about whether DigiByte is the next big thing or mostly fluff.
After the launch, Tate dedicated himself full time to DigiByte’s development. Since then, funding for the project has come through donations to the DigiByte foundation. It’s also reasonable to assume that Tate and others involved in the project hold a significant amount of DGB (the native coin) from mining and initial transactions. Their wealth would increase any time the price of DGB increases.
Speaking of other people working on the team, it’s difficult to find much out about the staff supporting the project. The website doesn’t contain information about the team. A little digging on LinkedIn turned up a total of fewer than ten developers who claim to work for the project, including Tate.
Trading History
As with all cryptocurrency, DigiByte’s price has been volatile recently. Up until 2017, it’s price remained relatively constant, with only slight growth. However, 2017 and 2018 saw a series of spikes and crashesfor DGB.
A June 2017 spike came when DigiByte hinted at an impending announcement on Twitter. Investors looking to make money off the announcement quickly bought into DigiByte. This pumped the price. However, the announcement didn’t come for several more days. It introduced a new wallet and a few added features. By the time of the announcement, the price of DGB had already collapsed to near pre-announcement levels.
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