Digital currencies, otherwise known as cryptocurrencies, are arguably one of the hottest innovations in the world of technology, especially with the frenzy witnessed in the year 2017. Cryptocurrency got heightened attention from the media, government, organizations and individuals, with technological nerds and geeks analyzing, promoting, and critiquing its underlying technology – blockchain. Despite the many potentials of blockchain in diverse fields such as finance, real estate, health, energy, gaming, supply chain and a host of other industries, the technology is yet to gain mass adoption. According to a 2018 study published by The Cambridge Centre for Alternative Finance, there are only about 35 million ID-verified cryptocurrency users out of the 4 billion people with internet connection. Crunching this into percentage shows that cryptocurrency adopters are just about 0.84% of the world’s population with internet access. The implication is that, despite more than a decade after the introduction of Bitcoin and first blockchain, the rate of growth and adoption of the blockchain technology is still slow.
Several factors could be attributed to have contributed to this slow pace of adoption, among which are the scalability (transaction speed) issue, lack of universal use case or a dedicated industry of its own, complex technical details, lack of regulatory standards, dearth of requisite advanced skillset for development, low public awareness, misinformed public perception of cryptocurrency, and usability issues. These constraints have militated against the mainstream adoption of cryptocurrencies generally, even existing users contend with loopholes and technical issues in available blockchain networks and decentralized applications also known as DApps. Many blockchain projects are racing against time to deliver innovative solutions to the identified problems and loopholes in the technology, especially in the areas of scalability and security, and help facilitate global blockchain adoption, both in the private and public sectors.
The DigitalBits blockchain is a next-generation protocol layer blockchain that is already live and running. It has demonstrated tokenization of pre-existing digital assets with high throughput, seamless transfer and trading of various digital assets on-chain. The project is a convergence of cutting-edge technology, top-notch team and enterprise-level execution. DigitalBits has an inbuilt decentralized exchange provisioned with multi-hop technology, as much as 6 hops, and a high transaction speed up to ten thousand transactions per second (TPS) for transferring and trading digital assets. This marketplace creates smooth transfer of value and liquidity for the supported digital assets. With these features already activated, DigitalBits ushers in a new era of blockchain use case that bridges the chasm between blockchain-powered solutions and mainstream adoption.
One of the key areas DigitalBits blockchain is accelerating mass adoption of blockchain innovation is through the points economy. The loyalty and rewards (LRPs) economy is vast cutting across diverse industries such as hospitality, finance, retail, travel, and others, and presents a great opportunity for promoting crypto adoption. DigitalBits blockchain can help businesses engage customer and revitalize their customer reward programs by easily integrating existing apps or allowing businesses to build their assets on the blockchain. Newly created tokenized digital assets are verified by the token name certification system to ensure legitimacy of the asset issuer thus preventing fraud.
FINAL THOUGHT
As the push towards mainstream adoption of blockchain technology continues, DigitalBits is positioned as a key catalyst for this drive. The blockchain is poised to become the most adopted blockchains with its host of strategic partnerships such as the one with Caddle. It aims to capture hundreds of millions users into the DigitalBits ecosystem, and that will be more than triple the recorded uniquecryptocurrency users. With DigitalBits blockchain, the future of blockchain adoption is now.
For further information on DigitalBits Blockchain, you can go through these links:
WEBSITE: https://www.digitalbits.io/
WESTART: https://www.westart.co/project/digitalbits-presale
TWITTER: https://twitter.com/DigitalBitsOrg?lang=en
FACEBOOK: https://www.facebook.com/DigitalBitsOrg/
TELEGRAM: http://t.me/digitalbits
BITCOINTALK ANN: https://bitcointalk.org/index.php?topic=5026550.0