Why is DigiByte (DGB) expanding their use case: from a payment coin to an asset issuing platform?

DigiByte is known for their lack of business prowess – they have built a solid blockchain, safe and fast but non-existent marketing and lack of presence on bigger crypto exchanges led to the current situation: DGB is well out of the top cryptocurrencies and not talked about too much outside of their community.

It seems that the team behind DGB seems to be pivoting the project in a bit different direction – from a pure payments coin to a full fledged digital assets issuing platform. DigiAssets is the name they have given to their latest feature set that is being added to the DGB blockchain. It is, in essence, a new Ethereum competitor – with a much better user friendliness but also no prove record track. You can issue a token for any physical asset or object – from a new crowdfunding project, to a real estate, to in game currencies etc.

It also seems that DGB is determined to do a better job in marketing their new set of features as they already did a couple of nice video explainers on how the new DigiAssets works and feels.

This new addition to the DGB blockchain raises couple of questions. First, is DGB admitting defeat in the payments coin arena and moving on to the different use case? This specific use case seems to be reserved for the crypto king itself – BTC and most of the competitors stand very slim chances of challenging that fact. So the DGB move, looked from this perspective, could be a right decision.

Second, asset issuing platform niche is also very crowded sector in crypto cosmos: from Ethereum, ESO, Waves, TRX to the security issuing platforms like Ravencoin already offering similar if not better services. This paints a different picture – DGB moving from one crowded area to another, perhaps even more crowded battlefield.

Technology front is looking great

Bitcoin supports 7 transactions per second with 10 minutes of block time. Bitcoin Cash supports 34TPS and 10 minutes block, Western Union supports 30, Litecoin supports 56tps with a 2.5min block time, and Paypal supports 130TPS.

Digibyte currently supports 560TPS and only 15 seconds of block time, and 2000TPS by 2020 and exponentially growing 280,000TPS in the near future.

DigiByte is the fastest, longest, most secure and most distributed UTXO blockchain in the world. DigiByte is not just a method of storing and exchanging value, but has the scalability to handle so much more, such as notarizing documents into the blockchain, identity validation, or even having tokens built on top of it without having to worry about a cat-game slowing it down when it reaches peak enthusiasm.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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