DigiByte (DGB) is an open source blockchain and asset creation platform. Development began in October 2013 and the genesis block of its DGB token was mined in January 2014 as a fork of Bitcoin (BTC).
A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity and transaction speed.
DigiByte Cryptocurrency consists of three layers: a smart contract “App Store,” a public ledger and the core protocol featuring nodes communicating to relay transactions.
DigiByte is a rapidly growing open-source blockchain created in late 2013 and released in early 2014. After 7 years of forward thinking development, DigiByte has become one of the safest, fastest, longest and most decentralized UTXO blockchain in existence. DigiByte is global in 100+ countries.
DigiByte is a modification of Bitcoin which aims to diversify security, speed and capacity possibilities.
Its first incarnation was as an open source blockchain and associated cryptocurrency, DGB. The network has five separate algorithms which help to maintain security and help prevent ASIC miners from commandeering too much power.
Later, another offering, DigiAssets, appeared, with DGB as its native token. DigiAssets appeals to those developers looking to launch digital assets, decentralized applications (DApps) and encode the necessary corresponding smart contracts.
All governance structures for DigiByte are run on a voluntary basis, in line with the thesis that the network should be open source and publicly accessible. Transaction fees in DGB are paid to miners for validating the blockchain.
More secure, Faster, Forward thinking.
DigiByte Cryptocurrency is more than a faster digital currency. It is an innovative blockchain that can be used for digital assets, smart contracts, decentralized applications and secure authentication.
What makes DigiByte stronger than others?
DigiByte is a rapidly growing open-source blockchain created in late 2013 and released in early 2014. After 7 years of forward thinking development, The has become one of the safest, fastest, longest and most decentralized UTXO blockchain in existence.
This is how the DigiByte blockchain works.
The three layers are the most innovative parts of the the blockchain providing the network infrastructure, security and communications to function with cutting edge speed.
Applications / DigiAssets.
The top layer is like an app store with clear real-world uses. All types of digital assets can be created with the DigiAssets protocol on top of the blockchain. Decentralized applications (dApps) can be built on top of the blockchain. Also smart contracts that leverage the rigidity and security of the blockchain can be encoded easily.
Digital asset / Public ledger.
The middle layer provides security and administration. A DigiByte CryptocurrencyByte of data, a representation of larger data or a unit that holds value, and cannot be counterfeited, duplicated or hacked. An immutable public ledger where all transactions of are recorded. uses five proof of work algorithms for security. New come from mining only.
Core protocol / Global network.
The bottom layer provides communication and operating procedures. A very low-level way nodes on the DigiByte global network communicate. Thousands of people are running software all across the planet. Any server, computer, tablet or mobile phone connected to the network becomes a node that helps relay transactions. Start contributing to the blockchain in the optimal way.
Open source / Permissionless.
Just like this website, the The blockchain is completely open source and free to use released under the MIT license, which gives you the power to run and modify the software. Transparency allows for independent verification of binaries and their corresponding source code. DigiByte Protocol on GitHub.
A digital currency you would absolutely love.
DigiByte (DGB) is a highly scalable peer-to-peer digital currency that enables industry-leading transaction speeds with negligible fees. The is the best means of making digital payments.
Easy to use.
Getting started to use DigiByte is even easier than sending an SMS. You can send and receive DigiByte Cryptocurrency using the devices you already know and love. All you need is installing a DigiByte supported wallet then click scan, scan the QR code and send DigiByte.
Not an ICO.
The has never been funded through an ICO or significant amount of premined coins (0% remaining). There is no CEO or a company controlling the DigiByte blockchain. The founder, developers and the community are unpaid volunteer
DigiByte transactions are confirmed in approx. 15 seconds, which is 40 times faster than Bitcoin and 10 times faster than Litecoin. SegWit enables up to 1066 on-chain transactions per second and negligible fees make the ideal currency for daily payments.
The has been built on the uncrackable technology of the Bitcoin blockchain and implemented various advanced enhancements over it such as DigiShield guard, MultiAlgo mining and the Odocrypt algorithm. Also Dandelion++ privacy protocol helps keep you safe by hiding your IP and physical location.
The is a 100% Proof of Work (PoW) blockchain that can be mined with five algorithms called Sha256, Scrypt, Skein, Qubit and Odocrypt. MultiAlgo mining contributes to decentralization, security of the network and gives you the freedom to use different kind of hardware’s such as an ASIC a FPGA or a GPU.
Compared to 21 million Bitcoin, 21 billion (1000:1 ratio to BTC) have been designed to be ready for mass adoption. The block rewards reduces by 1% every month instead of halving every 4 years. All 21 billion DigiByte will be mined by the year 2035. After 2035 the miners will then rely on transaction fees alone.
A simplified way to create digital assets.
DigiAssets is a secure, scalable layer on top of the DigiByte blockchain that allows for the decentralized issuance of digital assets, tokens,
DigiAssets can be used to securely represent anything we find in the physical world. From tangible assets such as real estate or cars, through to scarce digital pieces of art. Signed documents such as deeds and medical bills can be protected.
DigiAssets as an ecosystem and platform already has interested parties either planning on or currently building platforms in real estate, finance, remittance, identity, point of sale, racing, trade, healthcare, supply chain, government and more.
DigiAssets leverages unique aspects of a truly decentralized blockchain only found within a permissionless blockchain like DigiByte. This allows DigiAssets to be more secure, scalable and decentralized than any other platform in the market.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.