DigiByte is one of the most promising decentralized platforms. Work on the project began back in 2013. Since that time, Jared Tate and the dev team followed several goals. The team wanted to create a convenient digital currency to make fast and secure transactions, improve bandwidth and scalability and eliminate high transaction costs and blockchain weaknesses for possible attacks – issues shared by Bitcoin and Litecoin. While development of the DigiByte blockchain is still in the works, the DigiByte team has put together a strong and supportive community and achieved great results in the blockchain sphere. So what’s DGB all about and what’s the future value of DigiByte in 2019 and 2020?
DigiByte blockchain value
Despite it being a work in progress, the DigiByte project can already boast about their complex and unusual blockchain network. Instead of a common blockchain, DGB has a complex network consisting of three layers:
- Applications Layer – the highest, public layer for transactions;
- Digital Asset – a protective layer;
- Core Communications Protocol – the technical layer that supports the infrastructure.
The complex structure of DigiByte blockchain together with the SegWit algorithm helped the team to achieve the high scalability and impressive bandwidth characteristics of the mainnet. As a result, today DigiByte can process about 280 transactions every minute and they plan to improve that to 2000 transfers in 2020. That sounds like a plan, high speed and low transfer commission (which is only $0.0001) can make DGB a more favourable crypto payment platform than BTC or LTC.
Decentralisation is the key aspect of blockchain technology and DigiByte has brought it to a new level. The network already consists of 280000+ full nodes around the globe and uses 5 different mining algorithms to avoid centralization. Additionally, they use DigiShield and MultiShield technologies to achieve advanced difficulty stability and protect the network from malicious attacks.
As a result, DigiByte is a secure cryptocurrency that cannot be hacked or falsified with fast and convenient payments. It has become popular among different merchants and widely accepted by sellers and service providers. You can find the nearest businesses accepting DGB on this website.
DigiByte price analysis
Before moving to DigiByte price predictions we will take a look at how the coin has performed over the past few years.
DigiByte entered the market at the beginning of 2014. The start wasn’t successful and it dropped from $0.01 to $0.0003 within a few days. The new digital currency didn’t draw a lot of attention on the market and traders continued working with other well-known coins.
For the next three years, the price stuck around the $0.0003 price point. Only in spring 2017 did DGB start growing, eventually reaching $0.001. The listing on popular exchanges and addition of DigiByte to the list of supported currencies in Paytomat only favoured the price. As a result, it started growing faster in autumn.
In January 2018, DigiByte achieved its All-Time-High of 13 cents per coin and $1.2 bln in market capitalization. However, the bear market came quickly and the price went down. Currently, DigiByte price is $0.007 and capitalization is about 89 million.
DigiByte price prediction for 2019
Digital Coin Price has a positive forecast for DigiByte’s future price. By the end of 2019, the price of DGB will reach $0.0131652.
If we take a look at CoinFan analysis we will see that the minimal possible price of DigiByte by the end of 2019 will be $0.0135 and maximum $0.01725.
The technical analysis tool by the TradingView gives a “Strong Sell” rating to DigiByte for the next month.
DigiByte price prediction for 2020
WalletInvestor.com sees DigiByte as a bad long term asset and gives it a bearish rating. According to their technical analysis, they expect the price of DGB to fall to $0.000551.
DigitalCoinPrice.com on the other hand predicts that DigiByte will end up at $0.01548425.
CoinFan says that the coin will be traded between $0.0135 and $0.01725 price points in the middle of 2020. By the end of 2020, they expect DigiByte to cost somewhere from $0.0351 to $0.04485.
Other DigiByte price predictions
John Leonard, one of the members of the DigiByte community, is very positive about DGB. He hasn’t given any specific price predictions but believes strongly in the future of DigiByte.
Back in 2018, Rudy Bouwman the Chief Marketing Officer of DigiByte wrote a post on twitter about the possible future price of the coin in 2020. He didn’t exclude the possibility that DGB will be traded at $10-$15 in 2020. However, his personal DigiByte prediction is more conservative – $1 next year.
DigiByte price prediction sum-up
One of the main reasons why DGB is decreasing in price is its huge emission. Nearly 12 billion coins are already in circulation, and about the same amount is set to be issued before 2035.
However, the project has one of the strongest communities in the crypto sphere. They don’t care much about the price in the short term and believe in the idea of the project. Here's what the community member says:
Now is not the time to be concerned about price action. Now is the time to be preparing, grafting and building your future wealth factory. Jared Tate and the team are busy building a monster. Every DGB will count.
Their belief in the success of the coin is supported by the real DigiByte achievements; the currency has a solid technical basis and it is already accepted by 400 companies and merchants worldwide.
Store DigiByte on Freewallet
If you are looking for a new place to store your DGB, try Freewallet Crypto Wallet:
- Store DGB and 150+ other cryptocurrencies in one place. Available on iOS, Android and the web.
- Buy BTC, ETH, LTC, XRP, BCH, BNB and XLM with your credit card.
- Seamlessly exchange DigiByte with other cryptocurrencies right in the wallet.
- Make free transactions with other Freewallet users.
- Monitor the price of a coin in the wallet and see your balance in fiat currencies. You will be kept in the loop regarding all exchange rate movements.
- Protect your cryptocurrency with high-grade security features including 2FA, multisig and transaction limits. The majority of assets are kept in cold storage. It guarantees that your coins won’t be lost or stolen.
Feel free to sign-up with your Facebook, Gmail, email or mobile number and try Freewallet.
If you have any questions regarding the DigiByte cryptocurrency – address them to our support team and they will give you a hand.
Disclaimer: This article should not be considered financial advice and serves only as informative material. The cryptocurrency market is subject to high volatility and regulatory uncertainty. You should do a substantial amount of research before engaging in financial activities with cryptocurrencies.