DigiByte, founded in 2014 by Jared Tate, is rapidly developing into the digital asset with the most utility. During the first six months of 2019 there have been numerous developmental achievements, as well as increased adoption of DigiByte technology. DigiByte is the worlds longest and fastest UTXO blockchain with the most utility, and 2019 is looking to become a spectacular year.
In the first quarter of 2019, DigiByte released a new privacy feature, called Dandelion, to protect its users. With Dandelion, the users IP address is hidden from transactions. This will prevent hackers from finding the users IP address, and using it to track them down in the real world. This is a major step in protecting a user’s privacy.
In the second quarter of 2019 DigiByte released two major developments, DigiAssets, and OdoCrypt.
DigiAssets is now live on the main net. DigiAssets will allow for the creation of ICO, STO, and the tokenization of real-world assets. While asset issuance requires some technical knowledge at the moment, the team is rapidly developing a mobile version that will allow users to issue their own assets in a few minutes, with zero programming knowledge required. A sneak peak of the DigiAssets User Interface can be found below.
While asset issuance is not a new concept, the DigiByte blockchain is far more scalable than many of the top competitors. Ethereum for example, can process roughly 25 transactions per second, compared to the 1,066 transactions per second on the DigiByte blockchain using SegWit. The ability to easily create an asset from within the mobile wallet is also a feature that many of the top competitors lack. For these reasons, DigiAssets can be massive for the DigiByte ecosystem.
Odocrypt is the second major development that has been released in the second quarter of 2019. Odocrypt is a new, ASIC resistant mining algorithm for the DigiByte blockchain. DigiByte currently has 5 mining algorithms, making it one of the most decentralized and secure blockchains on the market. When the DigiByte blockchain reaches block 9,100,000, on or around July 19, 2019, one of these 5 mining algorithms will be swapped out for the new algorithm OdoCrypt. The algorithm that will be replaced is Grostel. Since the OdoCrypt algorithm automatically recreates itself every 10 days, it will be essentially impossible for an ASIC mining rig to mine this algorithm. Since ASIC machines can not dominate this algorithm, the DigiByte blockchain will become even more decentralized and secure. Users will be able to mine the Odocrypt algorithm with an FPGA. If you wish to mine this algorithm, you must update your core wallet to version 7.17.2. Follow the link below to download the latest version of the core wallet.
On top of all the developmental success the DigiByte team has had, the marketing team has managed to get DigiByte listed on over 130 exchanges with fiat on ramps in many major currencies, including the USD, GBP, EUR. DigiByte was recently listed on a large Honk Kong exchange FexPro with a BTC pairing, and DigiByte is currently winning a community vote for a listing on another major Chinese exchange ZBG. On top of growing interest in the Chinese market, DigiByte is also gaining traction in the Korean market as well. DigiByte will soon be listed on B-Trade ( www.btrade.co.kr/ ) , this exchange is created by blockchain company ( www.blockcom.co.kr/ ). For anyone unfamiliar with BlockCom, they have a variety of different businesses based on blockchain and IT based in Korea. They are also affiliated with Minwise & Settle Bank (with an estimated value of 700M USD as of 2018) which specializes in certification and virtual accounts. Their cryptocurrency exchange, B-Trade is offering high levels of security by using a separate key with a private blockchain. The security solutions on B-Trade are so advanced, they have been implemented into a top-telecommunications company in Korea. B-trade is also offering an exchange platform that will allow anyone to launch a cryptocurrency exchange in their own country. B-Trade has also developed a company to promote their strategy to become a global standard. A full list of exchanges that support DigiByte can be found below.
The efforts of the marketing team have also begun to show in the adoption of DigiByte technology.
Digi-ID is one of those products that is gaining a lot of traction. With Digi-ID, users can login to website without the need for passwords. By using Digi-ID, websites dramatically increase the security of their websites for their users.
Digi-ID has been implemented into two cryptocurrency exchanges, CryTrex, and changeangel.io. Digi-ID has also been integrated into the Coinomi wallet, SwineMine mining pool, and MyTeamConnector Software, which is providing services for companies such as AirBus. We also have AntumID, partner of DigiByte, who has commercialized the Digi-ID technology. In 2019 AntumID / Digi-ID has been integrated into Absoultejobe.be, a Belgium job search website, as well as biscuits.be.
With all of the development that has happened here in the first six months of 2019, as well as increasing adoption of DigiByte technology, it’s becoming easy to see that DigiByte is rapidly becoming a dominate player in the crypto space. 2019 is halfway over, but this crypto is just getting started.
Written by Cryptocurrently, Core Member of DGBAT.