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Digibyte was launched in 2014 and quickly became the first major altcoin. The coin offers high transaction speeds and high levels of security, and this is why it was commonly used for dark web transactions. The altcoin has three different layers. The first layer of Digibyte is meant to be used for smart contracts, personalized tokens, and decentralized applications. The middle one serves as a public ledger, and it allows the coin to move through the network. The bottom layer of the network includes decentralized nodes and client software.

Digibyte Price and Market Cap

The current price of Digibyte is $0.0546, and the altcoin has a circulating supply of 14.81 billion coins. This altcoin has a maximum supply of 21 billion coins, and these are set to be mined over a period of 21 years. This means the final set of Digibyte coins will be mined in 2035. The market capitalization of the coin changes depending on the price of the coin and the circulating supply, and it is currently $811,949,000. It ranks as the 120th most valuable cryptocurrency. You should note that Digibyte was not released with an IPO; all the coins have been generated through mining.

Who Are the Founders of Digibyte?

Digibyte was founded by Jared Tate, a man who was also known as Digiman. He oversaw the entire development process of the blockchain and would retire from the project in 2020. The project involved a number of developers, and it also depended on the Digibyte Foundation for the preservation of the network. There is also a group known as the Digibyte Awareness Team, and this one is responsible for marketing the altcoin.

What Makes Digibyte Unique?

One thing which makes Digibyte unique is that it offers very high levels of decentralization. Unlike other cryptocurrencies, it does not use one mining algorithm. It uses five different algorithms, and this prevents a handful of users from centralizing the altcoin. Another thing that makes this altcoin unique is the fact that it has very high difficulty stability. This difficulty adjustment protects the blockchain from malicious attacks.

Scalability in the Digibyte Network

One factor that has increased the popularity of Digibyte is the fact that it is scalable. This was a major challenge in Proof of Work cryptocurrencies like Bitcoin. Unlike Bitcoin, Digibyte supports 1066 transactions per second, and this makes it the fastest UTXO blockchain currently available. This level of scalability is achieved with the integration of OP_Codes and SegWit.

What is DigiID?

Digibyte has expanded its functionality and supports various decentralized apps. One of these is DigiID, a system that allows users to create and issue Blockchain IDs. This is a highly secure verification system that can entirely replace regular passwords and 2-factor authentication systems. It is worth noting that users don’t have to provide any sensitive information to third parties when using DigiID.

What Are Digi Assets?

Digibyte also supports the development and sharing of digital assets. So far, the application has been used to transfer fungible and non-fungible tokens like show tickets, property deeds, titles, coins, and shares. Lots of NFT pieces of art have also been traded on the Digibyte network.

How Can I Buy Digibyte?

Before you purchase Digibyte, you will have to sign up for a suitable exchange. Ideally, you should go for more popular exchanges since these will offer better prices and higher levels of liquidity. Since such platforms have more users, your transactions are also likely to be completed faster. Another thing to check is the security of the exchange. Has it ever been hacked? What are other traders saying about it? At the moment, the best cryptocurrency exchanges for Digibyte are Binance, Uphold, and BitPanda. Once you select a crypto exchange, you can follow these steps to buy Digibyte:

• You should first buy a digital wallet for the storage of your altcoins. The exchange you select may provide you with a digital wallet, but these will give you very little control. It is always better to invest in a hardware or software digital wallet.
• You can then deposit USD or other fiat currencies in the exchange and use it to buy BTC. This is necessary because lots of exchanges prevent users from buying certain altcoins directly with fiat currencies.
• At this point, you will need to exchange BTC for Digibyte and transfer your coins to your digital wallet.

Which Are the Best Digital Wallets for Digibyte?

When selecting a wallet for your Digibyte coins, you will have to go for hardware or software wallets. A hardware wallet is a physical device that allows you to store your coins, and it works just like a flash drive. With software wallets, you will be using a computer-based program. This can be installed on your desktop or mobile device, and some are even developed to work on the internet. Here are the best wallets you can use to store your Digibyte coins:

• Ledger Nano S
• DigiByte Core
• Guarda
• Digibyte Go

What Are the Digibyte Price Forecasts?

Most experts predict that the price of Digibyte will go up in the future. It is worth noting that the DGB network has lots of applications, and these will support the adoption of the cryptocurrency. Here are the DGB price forecasts made by Economy Watch:

• By the beginning of 2022, the altcoin will be trading at a price of $0.12.
• By 2025, the price will have gone up to $0.25, and this would represent an increase of 430% from the current price.

Here are some predictions made at Crypto Newz:

• In 2022, the altcoin will go over the $0.21 mark.
• In 2023, DGB is likely to be trading at a price of $0.24.
• By 2024, the price of the coin will have gone up to $0.27.
• In 2025, the altcoin will be trading at a price of $0.31.

Wallet Investor has made the following predictions regarding the price of DGB:

• At the start of 2022, the average price of DGB will be around $0.08014.
• By the end of 2022, the price will have gone up to $0.113.
• In December 2023, the DGB price will be around $0.143.
• By the end of 2024, the coin will be trading at a price of $0.181.
• In December 2025, the average price of DGB will be around $0.214.
• In October 2026, the price of the altcoin will have gone up to $0.226.

Is Digibyte DGB a Worthwhile Investment?

DGB offers lots of benefits and is highly functional. This is why it has been among the most useful altcoins. As most experts have predicted, the price of DGB will go up significantly over the next few years. Therefore, it would be wise to invest in this altcoin. Some of the best exchanges for you to buy this altcoin are Binance, Bitpanda, and Uphold.

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