Given its remarkable performance, DigiByte (DGB) is one project that cannot be ignored in 2020. The token design will really make it shine with the growing popularity of decentralized exchanges (DEX). According to DigiByte CEO Jared Tate, centralized exchanges (CEX) might witness intensified crackdowns following the BitMEX indictment. Effectively, this will fuel the DEX movement.
Tate states that the BitMEX situation will not be solely responsible for crackdowns on crypto. He states that BitMEX will have an impact upon the crypto market, but he also says that a weakening dollar will also play a hand. He adds that banks and Wall Street are still “siphoning off our grandmother’s pensions & stealing from our children’s future.”
DigiByte is a truly decentralized blockchain. Moreover, it has been doing atomic swaps for years now. The atomic swap protocols are being used by many decentralized exchange platforms. Basically, atomic swaps are automated, self-enforcing cryptocurrency exchange contracts. These allow peer-to-peer cryptocurrency trades without a trusted third party, and many see this as the future of crypto trades.
Always remember #DigiByte is a truly decentralized #blockchain with no central group/company controlling it. Anyone can use it, build on it or adopt it. No permission is required. Its built for the people, by the people for all people. pic.twitter.com/LH1d1R0CYo
— Jared Tate ©️ (@jaredctate) October 3, 2020
Why is DigiBytes special?
Litecoin founder Charlie Lee introduced atomic swap technology in 2017, and DigiByte started hinting the implementation of atomic swaps in the same year. However, blockchains like Litecoin and Bitcoin are not as fast as DigiByte.
Currently, DGB transactions take only 15 seconds for first confirmation and this makes it 40 times faster than Bitcoin and 10 times faster than Litecoin. Thus, it is evident that DigiByte will become a big part of the DEX revolution that we are about to witness.
Next big thing – DigiAssets
In the DigiByte roadmap, DigiAssets is the next biggest and most important plan. According to the official blog, DigiAssets is a scalable secondary layer on top of the DGB blockchain. This secure layer will allow decentralized issuance of tokens, smart contracts, assets, digital identity, and more. Effectively, it will be the protection layer for real-world assets like real estate, wills, deeds, medical bills, and all kinds of such assets.