The market has been performing terribly for the past few weeks, further deepening the bear run that started in January 2018. However, even in this doom and gloom scenario, crypto adoption continues to grow. News of new merchants, financial institutions among other institutions adopting crypto are on the rise. Yesterday, Peer2 group announced that they were adding Digibyte to their prepaid debit card.
This is a big deal for Digibyte (DGB) because it adds to the usage of Digibyte as a crypto for everyday payments. This will play a role in driving up volumes and create even more interest in Digibyte (DGB) by merchants. It’s a positive addition to the growth of Digibyte, which has been showing positive growth in other areas as well. For instance, the number of exchanges that are listing Digibyte (DGB) has grown. That’s a clear indicator that the demand for Digibyte is growing, and exchanges are positioning themselves ahead of a surge in demand.
But beyond its growing use as a payments crypto, Digibyte stands in a good position to grow as a cybersecurity tool. Digibyte’s Digi-ID is a free tool that any website can integrate into its systems and protect itself from malicious attacks. That’s because it eliminates the need for the use of passwords and usernames, which one of the starting points for hackers when attacking systems.
Digi-ID eliminates this need because authentication takes place cryptographically on the Digibyte blockchain. The demand for Digi-ID is almost assured of growth given the changing dynamics in cybersecurity. Attacks on internet systems have been on the rise and growing in complexity. When sites like Facebook and British Airways are successfully attacked by hackers, it goes to show that existing cybersecurity measures are no longer effective. Just to emphasize how vulnerable web systems have become, Tenable recently highlighted the large-scale attacks on Word Press. According to Tenable, the attack affected more than 7600 websites.
As of Noon ET on November 12, a curated Google search shows approximately 7,600 sites with changed URLs to ‘erealitatea[.]net’. The malicious site seems to have been taken down, but when administrators and users attempt to interact with their WordPress sites, most of the sites will completely fail to load or crash when administrators attempt to edit.
That’s quite a huge number considering that WordPress is one of the most popular when it comes to building websites. Such attacks only underscore the need for Digi-ID. Given that it is a free tool and doesn’t come with any subscriptions, all it will take for Digi-ID to gain mass adoption is more awareness about it. Once it gains traction, it could become the default tool that website owners use to protect themselves from malicious attacks. This by extension will create more demand for the Digibyte blockchain and Digibyte (DGB).
These uses and potential use cases make Digibyte (DGB) a low risk hold, in spite of the heavily bearish trend at the moment. It’s one of the altcoins that is guaranteed of survival even as many others risk going to zero, and probably never return.