Since the ICO explosion on the Ethereum blockchain in 2017, the number of platform blockchains has shot up. However, most of them have many weaknesses including scalability, cost, and most importantly security. This means that there is a huge gap in the market. There is a need for a powerful blockchain where business can efficiently build applications on, in a highly secure environment. This is exactly what Digibyte is working on. During the Texas Bitcoin conference earlier in November, Jared Tate touched on this development. He stated that,
“We are in the process of doing something that we are calling Digiassets that will other companies and other organizations to actually begin building on top of Digibyte. This has actually been in the works for 2 years now and we actually started testing it about a year ago. It will be an open source platform with documentation…”
According to Jared, they get contacted all the time by companies asking to build on the Digibyte blockchain since it is the most scalable.
This means there is demand, and the moment this hits the market, it will radically transform the market. That’s because Digibyte has all the attributes that most platform blockchains do not have, which gives it an edge in the market. The most important attribute that Digibyte has is security. Digibyte is one of the most secure, if not the most secure blockchains out there. This reputation gives it an edge in terms of adoption by companies looking to raise funding by issuing tokens. That’s because, for any company looking to develop any critical applications on the blockchain, security is a fundamental requirement. This could see the Digibyte (DGB) blockchain gain widespread adoption in the asset tokenization space, and eat into the markets of the blockchains focused on this market presently.
Then there is the element of scalability. On top of being the most secure blockchain in the market, Digibyte is also the most scalable. Scalability is one of the biggest problems that platform blockchains face today. Ethereum (ETH) has been struggling with this challenge for some time now, and there is no solution in sight. As for most of Ethereum’s competitors that claim to have solved it, they have done it at the expense of decentralization and security, and that’s not sustainable.
This means that there is a huge gap that Digibyte could fill and take over the market. That’s because Digibyte is not just the most scalable blockchains out there, it is also designed to scale on-chain, hence maintaining its core aspects of security and decentralization. This is powerful and could easily see Digibyte take over as the number one platform for issuing assets on the blockchain.
If it hacks this market, there is a very high probability of Digibyte (DGB) making it to the top 10. That’s because the asset tokenization market is huge, and has lots of potential for growth. This means that if Digibyte captures it, the demand it will generate will be explosive. When combined with Digibyte’s other use cases such as cybersecurity and payments, the potential for exponential growth becomes even more realistic.
