A report released by the Blockchain Board of Derivatives (BBOD) has ranked the cryptocurrency DigiByte, as an opportune project to buy in a medium risk capacity at a low price.

Initially released earlier in the month on the 5^th, the report has somewhat flown under the radar- some would consider this ironic, as DigiByte themselves tend to not receive as much mainstream attention as their fellow projects, despite having some of the best foundations and passionate community in the entire crypto space.

The BBOD research team, currently based in Cambridge, UK, describe themselves as, “producing, unbiased, evidence-based research and reports on crypto-coins and blockchain technology.”

They have produced several reports, analyzing the investment merits of several cryptocurrency projects such as Elastos and Decred.

DigiByte, founded in 2014 is one of the original cryptocurrency projects having not taken part in an ICO. They aim to solve some of the key issues concerning Bitcoin such as speed and security.

An aspect discussed by BBOD in regards to speed is that for full confirmation on the Bitcoin network, six confirmations are required all taking ten plus minutes. This is in many instances results in over an hour waiting time, which massively hinders mainstream adoption chances, especially in comparison to Visa and MasterCard.

BBOD writes that to address this issue:

“DigiByte’s [DGB] block time is 40x faster than that of Bitcoin, processing each block within 15 seconds as opposed to 10 minutes. Consequently, the DigiByte Blockchain is now the longest in the world, despite being introduced five years after Bitcoin. Superior block speed allows DigiByte to handle approximately 560 transactions per second, whereas Bitcoin can currently only handle eight transactions. “

The report also elaborates on DigiByte’s potential superiority on security in regards to Bitcoin:

“DigiByte has implemented a unique mining protocol which ensures centralization of the network by large actors is even less possible. They have achieved this by splitting mining activities into five separate pools of miners, as opposed to Bitcoins singular pool. Ultimately, this makes centralization of DigiByte’s distributed network impossible.”

The report delves much further into the merits of DigiByte and the specific features taken by the team to be able to reach their development goals. It also highlights risks associated with DigiByte such as the potential risk of being directly competitive with Bitcoin.

BBOD conclude by praising DigiByte’s strong technical protocols and believe with their current pace of development, they stand a very real chance of being the future fuel for adoption.

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