Saturday, April 10, 2021

DigiByte (DGB) Solves Issues Bitcoin Struggles to Solve Over the Years

Bitcoin, the first and largest cryptocurrency by market capitalization has many times been criticized due to some features that make it less efficient for payment.

Many crypto pundits believe that Bitcoin is best as a store of value rather than been used as a daily currency for instant payments.

In this regard, a crypto enthusiast identified on Twitter as Vannesa has shared four things she thinks Bitcoin must overcome before mass adoption of the digital currency can be expected. This afterward prompted the response from the DigiByte Awareness Team, the team that oversees marketing activities in DigiByte Blockchain.

This response buttressed that DigiByte (DGB) has in 6 years of its emergence solved the issues that Bitcoin has been struggling to solve since inception.

Four Things Bitcoin Must Overcome Before Adoption

In the tweet, Vannesa only repeated those things some other crypto pundits have once pointed to as the shortcomings that are capable of delaying the mainstream adoption of the digital currency.

She pointed at the time allocated to confirm Bitcoin transactions, which she said must be improved before the global adoption of the cryptocurrency can be expected.

She went further to point to multiple transaction issues that encompass Bitcoin transaction activities and the reduction of transaction fees when transaction volumes remain higher.

Conclusively, she mentioned that there should be a better decentralization of computing power on Bitcoin blockchain. She averred that all these shortcomings must be overcome to welcome the mass adoption of the digital currency.

She said, “4 Things Bitcoin must overcome before mass adoption 1. Improving time to confirm a transaction 2. supporting more transactions per sec. for BTC 3. reducing transaction fees when transaction volumes are higher 4. better decentralization of computing power on Bitcoin Blockchain”

DigiByte Awareness Team Responded with the Solutions Provided by DGB in 6 years

In response to the points stated above, the DigiByte Awareness Team claimed that DGB evolved within 6 years to solve the exact issues regarding Bitcoin mentioned by Vannesa.

The Team shared this, “DigiByte has evolved for 6 years long and has solved exactly those points! 1. With 15 seconds to confirm a transaction and 1 second wallet2wallet. 2. DigiByte already supports 1066 transactions per second. 3. Transaction fees are super low. 4. Mining over 1000 unique addresses.”

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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