Not many altcoins stand out when you examine the companies and tech behind them. Often, these projects are controlled by the interests of venture capital firms, which shell out enormous sums of money. You could even describe them as NPCs. As it turns out, decentralization is hard to come by in the crypto industry these days. Though, a decentralized blockchain that stands out from the rest is DigiByte.
Launched in 2014 based on Bitcoin's codebase, DigiByte is a fast, decentralized, and secure proof-of-work blockchain. Unlike Bitcoin, the final DGB block will be mined in 2035. Also, transactions on the DigiByte mainnet are 40x faster than Bitcoin and far cheaper.
DigiByte's decentralized nature is shown through the lack of a pre-mine, and of course, by the fact that corporations don't control the DigiByte blockchain.
DGBAT: a new take on decentralization
This leads me to the DigiByte Awareness Team (DGBAT). A group of blockchain experts with a strong passion for DGB, DGBAT encompasses the values of what a decentralized blockchain means. Unlike the corporations behind many altcoins (think IOHK and Cardano), DGBAT spreads awareness about DigiByte to potential ecosystem partners and investors free of charge; since it's made up of volunteers and not corporate staff.
In addition to DGBAT, there is the Digibyte Foundation, an organization which works closely with DGBAT to build the DigiByte ecosystem. Furthermore, there is a non-profit, the DigiByte Alliance, which connects the three organizations together, allowing for proper fundraising efforts among other benefits.
DGBAT works daily to encourage public discourse about DigiByte and teach people how to navigate the blockchain properly. The team takes advantage of the public aspects of blockchain by providing a decentralized fundraising platform for developers and raising awareness for various projects in the ecosystem.
For example, noncustodial crypto exchange ChangeAngel sponsors DGBAT and now supports DigiByte. Without DGBAT, it's hard to know whether that door would have opened.
The DigiByte Awareness Team also helps to produce monthly DigiByte ecosystem updates, available on DigiByte's official Medium account. These reports provide valuable insight about the state of DigiByte as a whole and how various projects are progressing.
The Future of DigiByte
DigiByte is well positioned for the future based on a number of factors. SEC chairman Gary Gensler has signaled that only Bitcoin and PoW coins using similar tech will be labeled as commodities and not securities. More importantly, Gensler has hinted that the majority of proof-of-stake coins may not be so lucky.
Given DigiByte has a vastly higher chance of being labeled a commodity than PoS altcoins, the long-term investment prospects for DGB are arguably formidable. Once investors realize that DigiByte will be forever censorship-resistant, decentralized, and secure, the DGB price could see a sizable increase.
You can be sure DigiByte miners will not allow OFAC-censored blocks, like Ethereum validators have.
As I explained earlier this year, DigiByte could have a big 2023. The recent Binance US listing and Digicorp Labs partnership with Shell, shows that there is still strong interest in the DigiByte ecosystem. With the DigiByte Awareness Team around, the future of DigiByte's development is in good hands.