DigiByte (DGB) Plans ASIC Protection with Continuous Code Changes
The DGB project has announced its intention of becoming permanently ASIC-resistant in an attempt to decentralize its network.
DigiByte (DGB) plans to become permanently ASIC-resistant by continuously switching its mining mechanisms.
The project explained in its tweet that it aimed to create predictable, repeated switching of the mining algorithm. Until now, crypto teams have gone to great lengths to make modifications to the mining approach, usually asking their communities. However, even with a changed algorithm, a project could expect the renewed creation of ASIC.
DGB is one of the small-scale coins which are attempting expansion and outreach, possibly achieving widespread adoption. The DigiByte project was deemed sufficiently established, and the asset was added to the Trezor Model T wallet, creating another layer of protection. For DGB, however, the idea is to use the coin instead of just stashing it away. It is available in the beta wallet but will appear in a stable version in a few days.
DGB trades at around $0.02, caught in a downward trend in the past three months and sliding from $0.034. It depends on Bittrex and Poloniex for a large part of its trading and is hoping for addition to Binance. The coin, whose 24-hour volumes hover above $1 million, is often seen as a risky bet with a potential payout.
In the coming days, DGB may benefit from the noise surrounding the London meetup of the community on November 18. The asset is relying on a wide fan base, aiming to boost its resilience and position itself as one of the coins invulnerable to a 51% attack.
The DGB market price is also stagnant due to its relationship with Bitcoin (BTC). Most of the trades are in pairs with the leading coin, and the positions of DGB are somewhat limited. DGB has few fiat on-ramps, and unless a pump against BTC is attempted, its position may remain stagnant.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.