Digibyte (DGB) and Electroneum (ETN) are two relatively new cryptocurrencies with several similarities. For starters, both have a maximum supply of 21 billion â a curious figure, and a marked increase on Bitcoinâs 21 million cap.
At present, Digibyte has a much larger supply in circulation, and as a result has reached a higher market capitalization â which is to be expected, given that Digibyte launched in 2014, some three years before Electroneum hit the market.
Availability equals popularity
Another hypothesis as to why Digibyte is performing better comes down to availability. Digibyte can be openly traded on a large number of exchanges, while Electroneum is pretty much limited to Cryptopia.
Electroneum is marketed as a mobile cryptocurrency and offers anonymous transactions. In addition to this, the company responsible for Electroneum has signed a number of contracts with mobile providers. Itâs ultimately designed to be a hassle-free mobile payment solution for the modern, digital world. For a new project, the technology involved is impressive and this helps to make transactions quick and easy.
Itâs essentially a digital currency designed for mass-adoption, and as opportunities present themselves this currency is likely to grow and grow â but until it makes the leap from Cryptopia to other exchanges, these opportunities will be few and far between.
Digiybyte markets itself as a secure, faster and future-proof coin. With a focus on security, it claims to ensure that mining, transactions and blockchain distribution are as decentralised as possible â this ultimately means faster transactions â up to 40 times faster than Bitcoin, in fact.
Smoke and mirrors
Perhaps the fundamental difference between Electroneum and Digibyte is that Digibyte offers greater transparency. From a technology perspective, itâs easy to gain an understanding of what Digibyte does, whereas Electroneum doesnât give much away in its literature or on its site. While they have their similarities, Digibyte undoubtedly presents itself as the more reliable of the two.
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