Digibyte (DGB) is probably one of the biggest losers in the crypto bear. Its price has taken a major hit in the last one year, and volumes have declined significantly. At the moment, it is trading below $0.001, which is now resistance. Even in the recent crypto pumps, Digibyte’s rise has been quite weak compared to most other cryptos. Such weakness has led to an increase in the voices arguing that Digibyte is dead. But, is Digibyte (DGB) really a dead project? Well, Digibyte (DGB) is neither dead nor dying. In fact, it is one of the projects that has what it takes to thrive long term. Here’s why.
First, even without getting too much into the use cases of Digibyte (DGB), its security alone eliminates any chances of Digibyte (DGB) being a dead or dying project. Just recently, Ethereum Classic (ETC) got hit with a 51% attack. This attack on a top 20 crypto caused panic in the market because, it exposed the vulnerability of POW cryptos to crippling attacks. The only coins that could be safe from such attacks are Bitcoin (BTC) and Digibyte (DGB).
Bitcoin (BTC) is hard to attack because the cost involved is not worth the effort. The same goes for Digibyte (DGB). Digibyte (DGB) is secured by 5-mining algorithm, which makes it expensive and almost pointless to attack. In essence, if it is one of the most secure altcoins in the market, there is no way that it could be a dead project. With the increased vulnerability of POW projects, money will ultimately start to flow into secure projects, and Digibyte (DGB) happens to be one of them.
Then there is its practicality as an everyday currency. One of the biggest challenges to the growth of blockchain technology is the lack of scalability. Without the ability to scale, it is difficult for cryptos to compete with centralized systems. Digibyte (DGB) is one of the few cryptos that are designed to scale effectively on-chain, and it will only get better with time, thanks to Digispeed. This makes it a high potential for adoption, as cryptocurrencies become more accepted as a means of payment. With such potential, it is almost impossible for Digibyte (DGB) to be a dead project. It may take a hit now, but Digibyte (DGB) will without a doubt rise again.
Digibyte (DGB) is also growing in adoption, especially in the area of cybersecurity. So far, Digibyte (DGB) has grown in usage in cybersecurity by organizations like Antum ID and V-ID. This is a sign of its massive potential to become a force to reckon with, in the area of cybersecurity, which also happens to be its key selling point. With such strengths in cybersecurity, Digibyte (DGB) can possibly never go to zero.
In fact, now that is in a depression phase where everyone is afraid of it dying, it could be the best time to invest. The moment the market recovers, and adoption grows, Digibyte (DGB) could grow by thousands of percentages.