DigiByte (DGB) Price Prediction 2022–2030. Is It Worth Buying Now?
According to the official website, DigiByte is an open-source blockchain created in 2013 that boasts a number of blockchain innovations. These include five mining algorithms, such as OdoCrypt, that ensure ASIC resistance and Dandelion++ privacy protocol.
Allegedly, DigiByte was never controlled by a company or a CEO. Instead, it is based on the effort of volunteers and driven by the global community. The DGB blockchain can handle 1,000 transactions per second.
Read on to find out:
- the Digibyte fundamentals;
- is it worth investing in DigiByte;
- DigiByte crypto price prediction 2022–2030;
This is not an in-depth review of DigiByte. It is a summary of the past and present achievements of DigiByte, with some speculation about its future price.
What Is DigiByte?
According to the introduction to the official whitepaper, DigiByte is an MIT-licensed cryptocurrency that attempts to overcome Bitcoin’s flaws. DGB adopts Bitcoin’s motto of "do not trust, verify" and uses Litecoin’s code-base. Only 0.5% of the coin was pre-mined for the purpose of sharing with the community to foster the early app and blockchain development efforts.
DGB underwent several forks that introduced new features and upgrades to the DigiByte network. In 2014, DigiByte adopted 5 mining algorithms to prevent hash power takeovers of the blockchain. The total DGB supply is 21 billion, with the expected mine-out date sometime in 2035.
In 2017, DGB implemented SegWit (Segregated Witness), a Bitcoin upgrade designed to prevent malformed transactions from corrupting the blockchain. In 2018, the blockchain was upgraded with DigiShield, which adjusts difficulty according to the influx of hashing power to prevent blockchain freezes.
DigiByte is a proof-of-work blockchain. Its developers decided on PoW because all other consensus methods are prone to corruption and centralization. The developers also encourage code contributions that align with the spirit of DGB and preserve the transparency of the blockchain.
DigiByte offers a mobile app that supports older Android versions that are prominent in Third World countries. The app is available in 50 languages.
DigiByte Crypto Price Prediction for 2022, 2023, 2024, 2025, 2027, 2030
This section neither endorses nor condemns DigiByte. Rather, it attempts to depict the volatility of the crypto market and DigiByte’s position in it. Any financial decisions you make are your responsibility.
The following table is the Cryptogeek price prediction for DigiByte through 2030. The price for each year is the average of four cryptocurrency websites’ predictions for each year. ROI is based on the June 8, 2022, DGB price of $0.012.
The following price predictions were collated from four independent crypto online portals’ articles. The prices represent a two-decimal, rounded-down number predicted in each respective article.
DigiByte price prediction 2022
DigiByte price prediction 2023
DigiByte price prediction 2024
DigiByte price prediction 2025
DigiByte price prediction 2026
DigiByte price prediction 2027
DigiByte price prediction 2028
DigiByte price prediction 2029
DigiByte price prediction 2030
DigiByte Crypto Price Analysis for the Past Several Years
|Date||Price||Why the price dropped/rose to this level (what influenced the price change)|
|September 1, 2014||$0.0001||MultiAlgo implementation to protect from 51% attacks, increase the blockchain’s security and improve performance on weaker PCs.|
|December 10, 2014||$0.00005||Adoption of MultiShield, a real-time mining adjustment feature that patches some timestamp vulnerabilities common to multi-algorithm blockchains.|
|December 4, 2015||$0.0001||DigiSpeed upgrade that halved the block creation time and keeps doubling the block size to support more transactions each year.|
|April 2017||$0.0004||SegWit activation to prevent transaction malleability that could jeopardize the blockchain’s integrity|
|February 28, 2018||$0.03||DigiShield implementation to even out block creation times and prevent hash-power takeovers by greedy miners.|
|Mid-2018||$0.03||DigiByte launches the iOS and Android apps on official stores.|
|Mid-2018||$0.04||Digi-ID is an authentication method that replaces passwords and usernames with a unique QR code that holds no personal information.|
|April 15, 2019||$0.01||ReserveAlgo upgrade that introduced an unorthodox Scrypt version.|
|May 18, 2019||$0.01||Dandelion++ privacy upgrade that randomly chooses a node to send the transaction to rather than exposing it to all nodes the sender is connected to.|
The first notable surge in price occurred in 2017, which aligns with the introduction of SegWit, causing the DigiByte price to increase 100-fold. In late 2021, the price surged again, this time to $0.16, until settling at $0.01 as of June 2022. There is no developmental milestone that coincides with the second surge in price.
Despite tremendous efforts by DigiByte developers to ensure decentralization and natural growth of DigiByte, it still appears to have been manipulated by traders. The price surges appear unnatural and unjustified by the fundamentals. Therefore, it is likely that DigiByte will again surge 100-fold but will also drop back to its June 2022 price soon after.
DigiBite price prediction — Q&A
What is DGB used for?
Anything you like. The devs have not limited DGB in potential uses, letting users make of it what they wish.
How to make money with DGB?
Based on previous price movements, it is possible that DGB will surge 100-fold once again. That will be a great selling opportunity for those who accumulated DGB at a lower price.
What is DigiAssets?
Based on the description on the official website, DigiAssets is a virtual representation of any tangible asset. It is both an ecosystem and a platform. One mentioned use case is protecting signed documents, such as bills and deeds. Anyone can create DigiAssets without having extensive software developer knowledge or hardware. They can be swapped, bought, and sold.
Can I run a full DGB node?
According to the whitepaper, yes. It is specifically optimized for low-cost machines to ensure the stability of the blockchain.
Can I contribute to DGB?
Yes! You can donate, volunteer for the community, or spread the word about DGB.
How do I join the community?
DigiByte is a cool idea with lukewarm execution, which is reflected in the price. The developers are ambitious in trying to supplant Bitcoin but that is not enough to create and maintain a robust cryptocurrency. The various upgrades have dubious value for the community and, despite the whitepaper claiming they are introduced through consensus, they indicate centralization.
DigiByte developers claim they are building a decentralized cryptocurrency immune to hijacking through raw hash-power, but their actions are anything but. They constantly meddle with the protocols, the algorithms, and the underlying code, indicating they are not sure what they have in mind. The upgrades do not seem to have anything to do with the price increase.
If you decide to take a look at DigiByte, beware of price movements that might make you think it is a project with a long-term future. It is more likely to be just another wannabe Bitcoin killer rather than an actual king-slayer.
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