Yesterday, Craig Wright was on a rampage, from threatening bitcoin miners to trashing Ethereum, Litecoin and other coins. One of his interesting tweets was with regards to sidechains, and other second layer scaling solutions. According to him, layer 2 is in script. This is pretty much in tandem with Digibyte’s approach to scaling. Early this year, Josiah Spackman, a Digibyte foundation ambassador wrote an article titled, Digibyte scaling: On-chain is doable, Josiah explains how layer two solutions defeat the whole essence of decentralization. That’s because they require trust in a centralized entity. Josiah stated that,
“You see, off-chain second-layer platforms like Lightning Network are a terrible, terrible idea. What’s the point of using a blockchain if the transactions aren’t on-chain? It’s exactly the same as using a credit card at that point, with an intermediary that must be trusted. It goes against the whole idea of a decentralized blockchain.”
According to him, Digibyte (DGB) has the capacity to scale on-chain efficiently, while maintaining decentralization. All they need is around 10,000 people running a full node for the next decade and that’s doable.
Then there is the issue of POW v POS. Craig has in the past went on a rant against POS, by implying that it goes against the ideals of capitalism. Again, Digibyte (DGB) is on the right side of things with this one. Digibyte is a proof-of-work coin and has never shown any intent of changing to POS. Clearly, Digibyte (DGB) adheres to the vision of Satoshi Nakamoto, whether that person is Craig Wright or some other entity out there.
Craig Wright aside, Digibyte is probably the only coin that meets all the ideals of true decentralization, while still acting as a currency that can be used for everyday purposes. Maybe it is the coin that is best suited to carry the vision of Satoshi Nakamoto. It is perfect for use, and best of all, it is not tainted with all the politics that surround bitcoin and the other coins that are angling to dominate the new world financial order.
But one may wonder why such a perfect coin is yet to gain any real traction in the market. It actually seems to be going lower in the market. Well, part of it is that people are yet to understand decentralization and what it’s all about. Lots of people are in it for the money and are stuck in a centralized mindset. That’s why there is usually lots of obsession with cryptos that have a good “CEO”. However, as knowledge of decentralization and its power to change lives gets more entrenched in the market, people will realize that coins like Digibyte (DGB) are worth much more than the value that the markets give them today.
It would not be surprising if, in the next few years, Digibyte (DGB) slowly climbs up market cap rankings to hit the top 5. The market is at a critical juncture, and the next few months will separate true cryptos from money grabs that are just riding the blockchain wave.