Digibyte (DGB: Hackers are getting bolder by the day, and crypto investors are increasingly becoming a huge target of attacks. This is quite understandable considering the immense amounts of wealth that cryptos have generated in the last few years. The latest attack was targeted at crypto entrepreneur Michael Terpin who lost over $23 million in a sim jacking case.
While this loss is tragic, it also exposes the vulnerability of commonly used security features such as SMS 2-FA. Clearly, there is a need for companies and individuals to move to more advanced and tamper-proof security technologies. One such technology is Digi-ID, an open-source identification system developed by Digibyte.
Digi-ID eliminates the need for usernames and passwords that are the target of hackers looking to steal user information. Through Digi-ID, all you have to do is enter your Digibyte pin or your fingerprint and you gain access to your phone or website you want to access. The best part about Digi-ID is that in the entire log-in process, no personal information is transmitted, which means that hackers have nothing to hijack for financial gain. In short, Digi-ID is the foolproof way for people to protect their personal data now that hacking is becoming a common occurrence.
Besides, Digi-ID could be used by Telecom companies in low-income countries. In most low-income countries, mobile-based platform are the primary way of sending and receiving money. It works because there are many places in such countries where conventional banks are not available. The only problem with these mobile-based payment systems is that they use traditional log-in systems that can attacked by hackers. Digibyte (DGB) is the perfect solution to these problems because users would not need to log-in to their online payments accounts with passwords.
For Digibyte (DGB) investors, this is welcome news. It is a clear sign that Digibyte (DGB) is about to go big in the area of cyber security. It won’t be long before major corporations, especially those dealing with sensitive data, start using Digibyte. Once this picks momentum, the intrinsic value of the Digibyte blockchain will soar. It has a clear edge over other blockchains when it comes to internet security, and that’s a big deal.
And the best part is that Digibyte is also great as a payment method. Digibyte is one of the fastest and lowest-cost blockchains in the market. This aspect to it, when combined with the fact that it is extremely secure makes Digibyte the best option for companies looking to adopt cryptocurrencies for payment.
In the long-run once cryptos go mainstream, Digibyte stands the best chance to emerge among the most adopted ones. And with that, its growth will be exponential.