In a tweet on February 13, DigiByte (DGB), a blockchain company revealed that the test of DigiAssets on its blockchain has begun. DigiByte is touted to be secured, uncensored and scalable which are features that will lead to its high demand by decentralized application developers reports a media outlet on February 16.
Pilot Phase of DigitAssets on Blockchain
According to DigiByte, the pilot of DigiAssets on its blockchain has begun and its developers are testing the asset issuance, asset explorer, wallet integrations etc. DigiByte is reportedly a blockchain that offers more capabilities than others and some of these include an enhanced level of security, non-censorship, and scalability.
In the area of security, the decentralized blockchain platform is said to have technicalities that make it secure and less susceptible to attack. Therefore, companies that are looking to launch their tokens on DigiByte can bank on this level of protection. This security is also its selling point which will attract companies in the cryptocurrency industry to take advantage of it.
Scalability of the DigiByte Blockchain
Digibyte blockchain is also believed to be one of the most scalable blockchains out there. It can process a high number of transactions daily (as high as 40 million transactions), thereby allowing assets running on it to scale swiftly. Moreover, applications that are targeted at a large audience will find this blockchain beneficial.
Also worthy of note, is the uncensored nature of the DigiByte blockchain which holds a promise of allowing asset owners to control their tokens. Here, there is no fear of their project being shut down for one reason or the other as would have been the case with a centralized system.
Digibyte Blockchain to Influence Token’s Price
Consequently, these capabilities will bring about high demand for the blockchain and indirectly influence the price of the DigiByte tokens. While the cryptocurrency is currently trading for less than a dollar ($0.008), there are speculations that the wide adoption will help to spike its price as was the case of the Ethereum blockchain which influenced the price of the Ether tokens.
In the same vein, it has been outlined that DigiByte has been undervalued. Nevertheless, there are expectations of a price increment in the near future given its fundamentals. The latter can be attributed to the virtual asset’s lesser supply in comparison with some cryptocurrencies whose price was able to hit over a dollar in 2017 when the crypto bubble occurred.