DigiByte, one of the oldest, most trusted, and high-performance blockchain projects around may, after all, have solid plans to accelerate blockchain developments to even include a metaverse with NFTs promoting the self-sovereignty benefit of decentralized blockchains if Rudy Bouwman’s tweet on Sep 2 leads.
Is DigiByte Accelerating Platform Development to include MetaVerses, NFTs, and More?
While there are no express indicators for doubters, the vice Chairman of the DigiByte Foundation, Rudy, is throwing subtle hints that a metaverse with NFTs might be the next product in line and part of the project’s overall goal of perhaps accelerating platform development to a more inclusive and closely knitted system.
That Rudy and the DigiByte team are possibly going the metaverse and NFT direction has been received warmly by crypto fans and blockchain supporters alike. The space, analysts say could, in years to come, command billions in value.
Now with the logo reveal from Rudy, the blockchain could, in due course, release a metaverse for enterprise and consumer clients in the coming days, going by Rudy’s hints. Typically, metaverses depend heavily on NFTs, a sub-sector that’s hogging headlines, funneling millions of dollars to talented creatives.
If DigiByte eventually forays into the NFT sphere, it would be fulfilling one of the platform’s highly anticipated products. By design, the blockchain is designed for projects looking for speed, decentralization, and security.
However, the DigiByte Metaverse may offer so much more considering the product offering of the blockchain like DID solutions and non-custodial operations. The DigiByte platform could, reading from Rudy’s tweet, be a gateway and a base for developing enterprise and consumer applications for entities and consumers keen on incorporating solutions without necessarily having to divulge their personal information or delegate control to a third-party. All these applications will be in line with blockchain guiding principles of security, trustlessness, and self-sovereignty.
But there could be more on the card for the DigiByte ecosystem. The revelation of the logo means the corporation has been set up, a positive development for investors. Furthermore, their solution would extend far much more beyond just NFTs if their base layer is secured by distributed and more efficient nodes. The announcement from ThreeFold indicate that DigiByte may be central in offering secured solutions for corporate entities looking at energy efficiency, robustness, and a secured base.
Following their partnership, DigiByte servers would run on the ThreeFold Grid nodes, leading to even more decentralization. This is key especially as DigiByte looks to tap into enterprises conscious of energy-preserving systems which are more decentralized and flexible.
Additionally, news on development and education, as per Rudy’s tweet, could mean the project is re-aligning their focus of channeling more resources on education all while doubling down on blockchain development. All this would go a long way in making DigiByte a go-to platform for offering secured, flexible solutions for enterprises and consumers, an objective Jared Tate emphasizes.
In a follow up tweet, Rudy said that there are more announcements to come in September.
DigiByte Current Entities–How they Form Part of the Whole
DigiByte (DGB) is ideally a payment system for individuals and businesses dodging high transaction fees in networks such as Bitcoin. Further, there is also a high possibility that DGB would function as the base currency for DigiByte’s MetaVerse technology that is currently in development.
However, payment is not the only solution DigiByte offers. They have a decentralized identity solution via Digi-ID that streamlines the way users can log into websites without necessarily submitting common identifiers like email or username. Website access is also password-free.
With Rudy’s teasing tweet, network users speculate that the development team would launch their metaverse via DigiAssets. The solution is built atop the DigiByte blockchain, enabling tokens issuance, smart contracting, DIDs, and much more.
By default, the off-chain platform–like layer-1 smart contracting platforms–allows for asset—digital or physical—tokenization. Therefore, through DigiAssets, it is highly likely that DigiByte could enable NFTs in a highly scalable and secure environment through the new entity. Considering the popularity of NFTs at present, this solution could be a star and most likely be one of the most tracked in the upcoming metaverse.
In April, BTCManager reported on the DigiByte Foundation’s partnership with LCX to leverage technological and legal infrastructure as part of the next step of the vast DigiByte ecosystem. Notably, LCX’s role is also expected to become clearer this month.
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