Digibyte (DGB) –One of the biggest challenges facing cryptocurrencies today is that of scalability. Without scalability, then it will be a challenge for blockchain technology to ever go mainstream. At the moment, most cryptocurrencies including Bitcoin (BTC) are looking to off-chain scaling solutions. One such solution is the lightning network. But while the lightning network has received much praise, it ends up creating the same problem that blockchain was trying to solve, and that’s centralized control.
That’s because with solutions like the lightning network, it pretty much boils down to trusting a centralized third party entity. This defeats the whole point of blockchain technology since current centralized systems are doing pretty fine at the moment. For instance, credit card companies can handle thousands of transactions per second, and can scale pretty fast. There would be no point in shifting to blockchain only to use a second layer protocol that may not work as effectively as the existing systems.
The true solution lies in on-chain scaling, and Digibyte is one of the cryptos that looks set to take blockchain mainstream through on-chain scaling. Digibyte (DGB) is by its design to scale on-chain, while maintaining decentralization, and the security that comes with blockchain technology. As such, for businesses looking to make a transition from centralized systems that have a single point of failure, it would make sense for them to look to Digibyte.
Therefore, as blockchain technology goes mainstream and people begin to appreciate its power, cryptos like Digibyte stand to benefit the most. Digibyte specifically wins because it has three key advantages over centralized entities, and off-chain scaling solutions. The first one is security. Digibyte is without a doubt one of the most secure blockchains in the market today. It has 5 mining algorithms that make it pretty much impenetrable. Thanks to its secure nature, Digibyte stands a good chance to compete effectively against centralized systems, which will lead to more adoption in the future.
The second one is speed. Digibyte has some of the highest speeds of any cryptocurrency. Digibyte transactions are pretty much instant, and can rival any of the more established centralized systems. As the system grows, Digibyte will get faster, and this will add to its overall rate of adoption.
Thirdly, Digibyte has very low transaction costs, and are incomparable to many other blockchain projects. The only ones that rival Digibyte on this front have some element of centralization to them, which again defeats the whole essence of blockchain.
With a combination of these factors and the fact that it is designed to scale on-chain, there is no doubt that Digibyte (DGB) has a good future. Once adoption begins to happen at scale, the value of Digibyte (DGB) will shoot up significantly. It could easily be worth a couple of dollars in the near future. It a solid bet for anyone looking at blockchain technology as a long-term investment.