Bitcoin (BTC) is number one crypto, and will probably retain that position for decades to come. That’s because it is secure, scarce, and can be used as a medium of exchange. But most importantly, it is the most recognized crypto. However, it is far from the most efficient cryptocurrency, and as investors get to understand the market better, altcoins with strong fundamentals will start to grow in adoption too. One of the altcoins that holds so much potential is Digibyte (DGB). Digibyte (DGB) is more like the most efficient version of Bitcoin. It shares Bitcoin’s core strengths, while eliminating the weaknesses.
One of the strengths that Digibyte (DGB) shares with Bitcoin (BTC) is security. It is a known fact that a 51% attack, such as the one that happened to Ethereum Classic (ETC), would never happen to Bitcoin (BTC). The costs involved are just not tenable, and there would be no payoff. That’s because, it would possibly lead to a fork, and a huge dump in the price of BTC. In the altcoins market, Digibyte (DGB) is probably the only altcoin that mirrors Bitcoin (BTC) in terms of security. Digibyte (DGB) uses 5 mining algorithms.
To successfully attack Digibyte, an attacker would have to take control of over 91% of on the Algos, and 51% of all the others. This may be theoretically possible, but in reality, it would be an expensive venture with no payoff, since the dump that would follow would render the whole exercise futile. This makes Digibyte a secure bet for investors that are looking to avoid the risks of a 51% attack. While one can argue that there are altcoins that by design don’t carry the risk of a 51% at all, the fact is that such cryptos are centralized and permissioned. Such cryptos defeat the whole purpose of blockchain technology since there is a centralized entity that can censor your transactions. Again DGB wins since it is fully decentralized, and unbreakable.
On top of sharing its core
strengths with Bitcoin (BTC), Digibyte (DGB) is way more efficient, and
practical for everyday applications. For instance, the original idea for
Bitcoin was for it to be used as an everyday transactional currency, but
clearly it is far off from being efficient enough for that role. Digibyte on
the other hand is very practical as a currency. It is fast, and has very low
transaction costs. In fact, sending money with Digibyte (DGB) is as efficient
as traditional payment methods, albeit without the censorship.
Therefore, being the most
efficient version of Bitcoin (BTC), one cannot deny the fact that Digibyte
(DGB) has a good future ahead of it. In fact, it is probably the most practical
altcoins in this market. Given how low
its price has dropped in the last one year, Digibyte (DGB) is one crypto that
savvy investors would be considering as part of their portfolios. It is a diamond
in the rough, and could surprise investors with a top 10 position in the