In a recent keynote address in Utah, Digibyte founder Jared Tate touched on something quite interesting. He said that the primary focus of Digibyte is not payments, but rather on cyber security. According to Jared, the future of Digibyte is in cyber security, specifically in the areas of artificial intelligence and IoT.
This is actually a smart move as opposed to focusing Digibyte on payments, and competing solely on the basis of transaction speed, and costs. That doesn’t mean that Digibyte is inferior in payments. If anything, it is one of the fastest, and cheapest cryptos for everyday transactions.
However, the truth is that, the issue of transaction speeds, and costs won’t even matter in a few years. Most other cryptos are focused on it, and it will quickly lose its status as a value proposition. If anything, most cryptos that are focused on payment-based features will die out, for one simple reason, bitcoin (BTC). In the near future, bitcoin will most likely implement the lightning network, essentially killing off the whole issue of transaction speeds. Being the dominant crypto in the market, there is zero chance that the masses would by-pass it as a payment method, in favor of some lesser-known altcoins.
One can see this scenario playing out with Tron (TRX) at the moment. The Tron team seems so focused on outcompeting Ethereum on the basis of transaction speeds. But no matter how they accentuate this feature, it doesn’t seem to have much of an impact on the value Tron (TRX). That’s because Dapps developers are looking for a lot more than transaction speeds.
The developer network, the ERC20 standard, and the wide partnerships that Ethereum has have proven to be more valuable than the issue of transaction speeds. Besides, Ethereum has solutions coming up such as Sharding and Plasma. The moment these are implemented, a lot of platform blockchains that have scalability and speeds as a selling point will be in trouble.
In essence, the direction that Digibyte is taking will see it attain massive value growth over time. IoT and artificial intelligence are increasingly becoming a reality, and will become more pronounced in the next decade. As such, the blockchain project that will manage to secure these networks will have a huge intrinsic value in the coming years.
Digibyte happens to be one blockchain that has the capacity to do this. It is one of the most, if not the most, secure blockchains out there. It is also highly scalable, which makes it a perfect fit for the fast-growing IoT driven industries. In a few years, you could be interacting with a Digibyte-secured device on a daily basis, without even knowing it.
Besides, Digibyte (DGB) still retains its status as a reliable and cost-effective payment method, which is an icing to the cake to its intrinsic value. This makes Digibyte a strategic investment for someone looking to invest in crypto, with a view of 5 to 10 years.