DigiByte:Hype or Hold
DigiByte has been on a slippery descent over the last week, at one stage falling over 60% from its high of 2500 before recovering slightly. Was it all hype? Is there any real potential or longevity behind the technology? In this article, we look at DigiByte’s Gaming Hub. DiguSign and the Digibyte Marketplace will be covered in future articles.
DigiByte Gaming Hub is a gaming portal with 36,000 members. It allows users to gain DGB while playing popular games such as "League of Legends","CSGO" and "World of Warcraft".
The concept sounds great and major players in the gaming industry are already on board, so what's the problem?
Below is a statement from DigiByte on the issue
“As announced several months ago payouts were and still paused. We received notice yesterday from Microsoft security center the site was being DDOS'd and we had to shut it down until we can repair it and do our planned upgrades or we risked losing our entire hosting package and all our other services.”
Why would DigiByte allow their service to be down for such a long period of time? Surely this would only kill any momentum or following the portal may have already acquired and seriously damage the company's credibility?
Hostage of own success
The Gaming Hub payment model is holding the platforms future hostage, DigiByte couldn't have foreseen the massive DGB price growth and now cannot afford to pay out outstanding payments to its existing users.
It appears that this issue has been ongoing for many months and It is unclear how much the company owes its users or how many users are affected. One user on Twitter posted he had used 1.2 million DGB on the platform equivalent in today's price of 15BTC !! Ouch
What is the future of DigiByte Gaming Hub?
DigiByte claims the project is still ongoing but from the below statement it feels like it's been put on the backburner.It appears that they are concentrating their efforts on other ongoing projects like DiguSign. Hopefully this project gets back on its feet as it still has great potential. If DigiByte gets their technology right and manages to resolve it's fee issues I believe the platform still has a bright future.
“Once we get regrouped and get the site restructured it will be a service geared for gamers with many of the features it had before and some new ones. Gaming is for sure still on the roadmap. In the meantime, we are having some great success with DiguSign. Stay tuned for more upcoming news! "
If you have used DigiByte's Gaming Hub in past please let us know your experience in the comments below.
Finally someone who has made his homework before investing. Any company having its services down for such an extensive period doesn't have a place in the industry especially holding hostage people money. Digibyte is very lucky crypto industry is not regulated.