The DGB project started its permanent ASIC resistants for greater decentralization of the network
The Digibyte cryptocurrency (DGB) is planning on becoming a permanently ASIC-resistant mining hardware device, the project plans on doing this by continuously switching its mining mechanisms.
According to a Digibyte report:
“We are proud to announce we are testing the next generation of Blockchain mining technology. Imagine a mining algorithm that recreates itself every 10 days. No ASIC could ever be created for it. This is True Decentralized proof of work cybersecurity.”
In a Tweet that was posted on Twitter, the project is aiming to create a predictable, and repetitive switching of the mining algorithm that will be used. There have been a few crypto start-ups that have gone to great lengths to modify the mining approach of some coins. This is conducted by asking the community through voting with mining power or nodes on the network. A change in the mining algorithm will force the renewed creation of ASIC hardware.
The DGB cryptocurrency is planning on the expansion and outreach of the coin in order to achieve global adoption, as the cryptocurrency is still one of the small-scale coins on the market. The project is seen as sufficiently established, which made the crypto asset usable on the Trezor Model T wallet and gave it another layer of protection. The team wants the coin to be used instead of just storing it away. Rudy Bouwman mentioned gave big thanks to Trazor for supporting Digibyte and it is now available from Trezor Beta Wallet, as we also expect the stable wallets to come in a few weeks.
The mining of Digibyte in the coming months
Digibyte is currently trading at around $0.02, caught in a downward trend in the past three months and is sliding from $0.0034. The coin currently depends on Bittrex and Poloniex for a large part of its trading and has also plans of beginning trading on Binance. The cryptocurrency has a 24-hour volume that hovers above $1 million, as it is also seen as a risky bet with potential payouts.
In the coming weeks, the Digibyte project is expected to benefit from the noise surrounding the London meetup of the community on November the 18th. This crypto asset is focused on boosting its fan base and its resilience in order to position itself as one of the coins that is invulnerable to a 51% attack.
The DGB market has also been a little stagnant due to its relationship with Bitcoin (BTC), as most cryptocurrency traders are in pairs with the leading coin. The current position of DGB is somewhat still a little limited. The coin currently has very few fiat on-ramps which calls for a good increase in the price against BTC in order to gain a better position and not remain stagnant in the space.
What do you think of this new market positioning from the cryptocurrency? Please feel free to leave a comment down below.