For the past 48-hours, NEM (XEM) has taken a major hit. This follows news that the NEM foundation was facing financial difficulties. The foundation is in distress and is looking to request for 160 million token in financing, failure to which, it could go bankrupt. While this may be dismissed as a NEM specific problem, it highlights the risks that most crypto tokens face. That’s the risk that crypto tokens could die, in a prolonged bear market. The only safe cryptos in such a scenario are true UTXO cryptos like Digibyte (DGB).
Digibyte (DGB) may have taken a hit in this crypto bear, but it sure isn’t going anywhere. That’s because the project is entirely community driven. There is no organization that could run out of money and negatively affect Digibyte (DGB). Even if the bear market were to go for another year, Digibyte (DGB) would still survive it. Sure, its price may continue to suffer, but its core fundamentals would remain intact. That’s very different from ICO projects that are both at risk of losing in terms of price, and shutting down, due to lack of money to sustain development.
This aspect to Digibyte (DGB) and similar coins such as Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE) makes them very secure in terms of their staying power.
Besides, the whole idea behind cryptocurrencies was to remove the element of centralized control, by entities that can shut down at any time. Their decentralized nature for crypto like DGB gives them strength in the sense that, they are safe from attacks that may put them at a risk of closing down. With centralized projects, if a government doesn’t like them, all it would do is shut down the central organization behind the crypto and everything goes down. With cryptos like Digibyte (DGB), there is no head to cut. As such, there is no risk of being shut down, just in case a certain government doesn’t like it. This is a very powerful aspect to Digibyte (DGB), one that could see its value rise significantly in the long run. It’s an example of how powerful trustless cryptos that can’t be censored are.
In the long-run, this could play a major role in driving adoption. That’s because, any major corporations looking to integrate cryptos would be looking for something extra, that it cannot develop in-house. Most of the solutions that centralized projects are offering can be developed by major corporations. The only thing that they would need externally is security, which mainly comes from real decentralization in a trustless environment.
This places cryptos like Digibyte (DGB) in a very good place, in terms of mass adoption. Digibyte (DGB) may not be performing so well at the moment, but its future potential is huge. It has what it takes to become a top 10 crypto. As the crypto bear continues to bite, the top 10 list could look very different in a few years’ time, and Digibyte (DGB) could have its place among the best.