DigiByte (DGB) has been gaining traction lately, and on July 12, was added to the Cryptopia exchange. Cryptopia is a relatively small market, but often seen as an important gateway to popularize niche coins.
https://twitter.com/DigiByteCoin/status/1017553816038674432
After a robust price spike, the market for DGB calmed down. At the recent peak, DGB reached the $0.04 level on July 9, going as high as $0.045, but unraveling soon after that.
!DGB!
DGB is mostly traded against Bitcoin, through the Bittrex exchange.
The asset is also a part of the portfolio of the Abra app, though not for direct purchase and withdrawal. The DigiByte community has reached out to the Abra app with the request to add direct withdrawals, and the proposal to assist with the technology. At the moment, Abra only allows withdrawals of Bitcoin (BTC).
Additionally, DigiByte expects a partnership with TokenPay to increase the exposure of the coin. In other developments, DigiByte mining will also evolve, adding an ASIC-resistant version of the CryptoNote algorithm.
In a bout of negative news, DGB wallets were suspended temporarily on Poloniex, one of the major markets for the coin, possibly making the price slide further. The Blockfolio app noted the involvement of the DigiByte community with this issue:
https://twitter.com/BlockfolioApp/status/1017495812052537344
The other criticism against DGB is that its multi-algorithm mining may not add to the security. Multi-algorithm coins could be attacked through one of the mining approaches, and DGB has the SHA-256 and Scrypt algorithms that are highly accessible to mining attacks through ASIC.
https://twitter.com/SatoshiLite/status/1002063157681012736
So far, DigiByte has not reported an attack against its network, but there are no data readily available for the total hashrate. However, Reddit users are reporting lower rewards, potentially indicating more mining power being pointed to DigiByte.
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This article appeared first on Cryptovest
