Today I want to give you my complete DigiByte Coin Review!
As of today DigiByte is the worlds 61st largest cryptocurrency.
I want to take a look to see what makes this technology tick. I will make a few predictions for the future.
I’ll also talk about the applications where this coin may see some advantages.
Lets get started with DigiByte shall we?
DigiByte Coin Review
DigiByte is currently the worlds 61st largest cryptocurrency. With a market cap of around 327 million dollars. It’s currently trading at around .03 cents.
Here is a screenshot of DigiByte from Coin Market Cap:
What I find really interesting in this project is it’s been a blockchain technology for around 4 years.
It has a solid foundation and also a solid team. The unique value proposition is a little bit difficult to understand.
I’ve seen many coins just in the past couple months that are fairly unique. They are pretty easy to understand their value proposition.
The more that I research DigiByte the more that I realize maybe this technology isn’t widely different from some other blockchain technologies.
Maybe the real value in it’s platform. Take Ripple for example they have a very unique use case. In return they have a very defined target market.
I feel that DigiByte is very broad in it’s scope of work. The coin itself has been around since 2014.
It’s lead developer Jared Tate is a very talented public speaker. He also has a firm understanding of the blockchain and blockchain technologies.
DigiByte does have a lot of interesting applications. For example DigiSign and DigiDoc. There is also a prototype showing how certain cryptocurrencies can be incorporated into games such as Minecraft.
I do think some of the hype between the DigiByte and Minecraft merger is overblown. I think some people when they found out about this opportunity were assuming DigiByte would be a digital currency within Minecraft.
Some cryptocurrency folks were thinking this could give it huge exposure. Possibly building a huge DigiByte base. I think possibly this was misunderstood.
DigiByte Gaming Currency
What DigiByte actually did was create their own server and reward players for some very specific actions.
So it’s really a proof of concept showing you can use this type of digital currency in games.
So it doesn’t just have to be Minecraft. It can be any game. I do think this offers an exceellent use case because if you’re a game developer. If you want to use a currency that has value in the real world it could be DigiByte.
It is a huge technical task for a game such as Minecraft to do this themselves. Now you have to keep it safe from hackers. Keep integrity within the game etc.
If it is a real currency and you want to implement it fast i think it would be much easier to use an excisting blockchain technology.
Something like Digi could be a big advantage with an already proven blockchain etc.
As an example. Instead of World of Warcraft having to develop their own cryptocurrency. It would be able to just use the DigiByte technology and the Digi coin. Then World of Warcraft could easily exchange value between the players.
So on the large scale like World of Warcraft it may not be necessary because they have so many developers and have so much money in the game.
For smaller games and indi games I think that using a real world cryptocurrency in a game would offer a lot of advantages.
I really believe a lot of people are hoping for when investing in DigiByte.
DigiByte – The Real Value
First thing I want to point out is the exchanges the Digi coin is being traded on. As you can see some of the big ones. So it’s a very trusted coin and has a bit of history behind it.
So over the past 4 years DigiByte has been a very solid blockchain technology. It doesn’t have a very unique value proposition. But what’s interesting if you start to follow the news you’ll see why this generic blockchain technology could really explode.
I do believe DigiByte could be very valuable to a lot of these smaller games.
You have probably noticed just in the past couple months central banks are taking notice of blockchain technology. I do believe fiat currency is under thread from digital currency such as DigiByte.
The way we have regulated fiat currency in the past through government controls and regulations. It seems like it’s NOT going to work in the cryptocurrency space.
So I think a lot of major players are way behind when it comes to this technology.
The fact that DigiByte is 4 years old. The fact that it’s a working platform. I believe it makes it right for opportunity.
I think as more and more big players come into the market. They will need to understand this technology better.
If they can’t implement their own blockchain. There will be some really big advantages to incorporating pre excisting blockchains like Digi for example.
It’s tough for me because it’s a very speculative gamble. I normally invest in coins that have unique value propositions. Or they are going to do something technically different from everyone else.
However in the case of DigiByte I really think that this is a blockchain technology that’s good and it’s working.
It also has a very unique mining protocall which is between 5 algorythms. Some are Asic friendly. Some are GPU and CPU friendly.
That provides it’s security. However that alone is not enough for me to invest in DigiByte.
I think the real investment opportunity with Digi is to speculate it can easily be integrated into other pre existing platforms.
There are MANY platforms out there that could eventually need DigiByte blockchain and technical savvy.
For this reason I would be intersted in investing in the DigiByte coin. If there was ever a time to start buying DigiByte coins it’s now.
DigiByte wouldn’t be at the very top of my list because of it’s uniqueness. However I do believe DigiByte could easily increase in value over time because of a few reasons.
It’s been a working platform since 2014. Unlike many coins out there that claim to have a great platform but we all know they don’t.
This cryptocurrency is the real deal. Only time will tell if it DigiByte will go “to the moon” but it very well could.
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