The price of DigiByte (DGB) has surged over 33% this Sunday, ahead of a major update to its blockchain and as the team behind it made a peace offering to cryptocurrency exchange Binance.
According to CryptoCompare data DigiByte’s price rose 33.7% in the last 24-hour period, as it’s currently trading at $0.0156, which means its market cap is now close to the $150 million mark.
Behind the cryptocurrency’s price jump may be various factors. Among them is a major update to its blockchain that’ll bring in a new mining algorithm, which will allow for everyone to mine new DGB coins without the need for specialized ASIC hardware.
The new mining algorithm, called Odocrypt, is going to see DigiByte keep on focusing on fair mining, meaning it’ll keep on trying to keep large mining pools with ASIC machine farms at bay. The cryptocurrency initially forked to create five mining algorithms, according to its founder Jared Tate, but it only worked for a while as eventually ASIC’s caught up.