The crypto market is down again today, and Bitcoin (BTC) is now back under $3800. If this bearish sentiment sustains, altcoins are likely to suffer more. Already most of them are now down by an average of 5%. If Bitcoin drops below $3k most altcoins might die out. Those likely to survive and thrive are those with strong use cases that clearly differentiate them from Bitcoin (BTC). That’s because those looking to compete with Bitcoin in the payments market may find it hard to survive, as the Bitcoin Lightning Network continues to grow. However, even under these circumstances, Digibyte (DGB) comes across as a strong altcoin. It is different from Bitcoin (BTC) and with a strong value proposition. Several factors make Digibyte stand out.
The first one is that, it is a scalable blockchain, even without the lightning network. Digibyte Is designed to scale on-chain, and do so effectively. Does this matter? Quite a lot. The fact that Digibyte can scale on-chain means that it is one of the safest and efficient payment methods out there. That’s because all transactions can effectively be handled on the blockchain. This makes Digibyte stand out in the payments market, as a more efficient version of Bitcoin, more like what Bitcoin was meant to be in the first place.
On top of that, Digibyte has a long and proven track record. It has a 5-year history and in this period, it has never been attacked. In fact, it is one of the few altcoins that have the same level of security, if not better than that of Bitcoin (BTC). Digibyte (DGB) has 5 mining algorithm which makes it almost impossible to attack. This is important because it makes Digibyte inspire confidence not just as an investment, but also as a form of payment. This is a factor that will play a role in its adoption and stability in the long run. It gives it a massive potential to increase in value as people realize its power and adopt it as a form of payment.
Digibyte’s security also gives it potential for adoption in other high potential areas that add to its value. For instance, a number of security solutions have been developed on the Digibyte blockchain. The most important of these is these is Digi-ID. Digi-ID is a solution that eliminates the need to email and passwords when logging into website. To log in, one is required to do so with their Digibyte wallet. This is powerful solution that solves the problem of hacks, which is becoming more common over time. It is already being adopted for this function, with AntumID, leading the way. This identity authentication organization has already eliminated email logins in favor of DigiID
With these strengths, DigiByte (DGB) is an altcoin that has what it takes to stand out even in a situation where altcoins struggle to recover after this bear market. It could over time rise to become one of the most important altcoins in the market. This makes it a high potential hold in the long-run.