It recently emerged that there was a vulnerability, which if exploited, would collapse the bitcoin network, or any other UTXO blockchain for that matter. Digibyte has now fixed this with the release of Digibyte core v6.16.5. As per the Digibyte’s GitHub repository, the update fixes the private key import bug from old wallets, the bug with duplicate inputs in a transaction, and updates the right wallet image to 6.16.5. This swift move by the Digibyte developer team now means that Digibyte is free of the vulnerability that was threatening to bring down all UTXO blockchains, with huge ramifications to the blockchain ecosystem.
Their swift action reinforces Digibyte (DGB) as one of the safest and most reliable blockchains in the market. That’s because Digibyte not only has some revolutionary features to it, it is also has a team behind it that is proactive in ensuring that the network runs as required, 100% of the times. That’s the kind of reliability and dependability that corporations look for, when adopting new technologies, especially on critical issues such as a security.
In essence, the update opens the way for the adoption of Digibyte for its security capabilities. For instance, Digi-ID has a huge potential use-case in the banking industry. Banks can use it in online banking, as a tool to protect their customers from getting hacked, when conducting business online. However, for banks to integrate such a blockchain service into their systems, it would have to prove itself beyond reasonable doubt that it is indeed secure. So far Digibyte (DGB) has pretty much proven itself. That’s because, Digibyte as a blockchain, is pretty much safe from a 51% attack since it uses 5 mining algorithms. And now it has proven itself even more, with a quick and comprehensive upgrade, ahead of all other UTXO blockchains.
As the business world begins to appreciate the security of Digibyte and its forward-thinking approach to security, its value in the market will rise. Nothing is as valuable as security in a world where sensitive data is increasingly stored online. The increased incidence and boldness of hackers will lead to an organic growth of Digibyte (DGB), as the primary security tool, for any organization looking to secure information on the blockchain.
But even with such strengths, why is Digibyte (DGB) lagging behind in price? Well, there are a number of factors contributing to it, but the biggest one is that it is truly decentralized. Digibyte (DGB) doesn’t have a centralized team behind it, shilling the project. It is fully community driven. That’s part of the reason why it hasn’t been listed on major exchanges where some fee is required.
There’s simply no central entity to pay such fees for listing. However, while this may come across as a disadvantage in the short term, it will be its biggest asset in the future. That’s because the majority of investors are yet to understand the importance of decentralization. It will be truly revealed when some cryptos begin to try and control how investors interact with their tokens. It’s at that point that people will appreciate the control that truly decentralized blockchains put in the hands of the coin holders, and projects like DGB will come to the spotlight. On top of that, it’s cost-effective and unbreakable security solutions will in the long-run draw organizations towards Digibyte (DGB).
The other factor contributing to Digibyte’s underperformance is an overall bearish market. The market has been down all through 2018, with several failed rallies. If the market gains bullish momentum in Q4, then Digibyte (DGB) could perform quite well towards the end of the year. It rallied last year with the rest of the market, and will rally with it in the future.