Crypto Watch: DigiByte (DGB) Price Surges 120% In 12 Hours. What Is DGB And Why Is It On The Rise?

DigiByte has launched into the #37 spot with a market cap of $682M.

After a brief 'holiday discount', the crypto-craze is kicking in again—and many of the major gains we're seeing are emerging from lesser-known altcoins.

See more "Crypto Watch" coverage and analysis: Litecoin, Ripple, TRON, Cardano, Bitcoin Cash, Stellar, Qtum, Verge, Reddcoin, and Burstcoin.

The coin generating noise now is DigiByte (DGB), which jumped 120 percent in 12 hours—including a 53% bull run in just 25 minutes the morning of Dec. 23 (PST).

What is DigiByte?
DigiByte is an open-source, decentralized blockchain via the DigiByte Foundation, and DGB is the native asset. The DigiByte development team has gone to great lengths to ensure that Digibytes "cannot be destroyed, counterfeited or hacked, making them ideal for protecting objects of value like currency, information, property or important digital data."

Having been in existence for four years, with a community of developers and innovators behind it, DigiByte has become "the world's longest, fastest and most secure UTXO blockchain in existence," according the official website.

Because DigiByte blocks occur every 15 seconds, DigiByte has earned the title of fastest UTXO blockchain in the world, clocking speeds of 40x faster than Bitcoin.

The DigiByte blockchain is made up of three layers: the applications layer, the public ledger (digital asset layer), and the global network layer. The applications layer is what most people will interact with—it's where they'll find Dapps (decentralized apps) and Digi apps, and establish smart contracts.

The asset layer is what brings the platform a greater degree of security. These assets, a digital byte of data, are unique, non-counterfeitable stores of value. This is enforced by five separate mining algorithms, which deter hacking by an exponent. And the underlying global layer supports communications and operations across the global network.

At 10:24pm Dec. 22, DGB was trading for $0.042612, according to CoinMarketCap. By 10:04am PST—just under 12 hours later—that number hit $0.090332, a record high for DGB. The current price is $0.071391.

Source: https://www.forbes.com/sites/jessedamiani/2017/12/24/crypto-watch-digibyte-dgb-price-surges-120-in-12-hours-what-is-dgb-and-why-is-it-on-the-rise/#2d407d11479a

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