DigiByte (DGB)

Official Website: https://digibyte.io/en/gb.html

What is DigiByte?

DigiByte (DGB) is a cryptocurrency which was envisioned by its creator Jared Tate as a more secure, decentralized and faster variant of Bitcoin (BTC) back in 2014. DigiByte (DGB) since its launch has developed an ecosystem designed to counter the major challenges that the creators saw facing mainstream and more renowned cryptocurrencies such as Bitcoin (BTC). 

Digibyte Statistics  

Circulating Supply 

13,111,657,259 DGB 

Maximum Supply 

21,000,000,000 DGB

All Time High 

$0.142889 

Blockchain Statistics  

Consensus Algorithm  

Proof-of-Work (PoW) SHA256, Scrypt, Odocrypt, Skein & Qubit

Average Block Time 

15 Seconds 

Transaction Cost 

$0.00000033 Avg. 

Transaction Speed 

15 tx/s 

Mining 

CPU and GPU 

Staking 

N/A 

Block Explorer 

https://chainz.cryptoid.info/dgb/

Social Media Statistics 

Twitter Followers 

159,900

Telegram Group Users 

8,959

Reddit 

21,900 

 

Team

Development of the project is focused solely on by the Core Development team & the Core Outreach team is focused on outreach with cooperation from the DigiByte Awareness team. DigiByte (DGB) is not a company, so the marketing has resulted into being produced by different members of the DigiByte Community. There are some that are organized into groups, where they are using their skills to create awareness and encourage adoption. Groups like DGBAT (DigiByte Awareness Team) & the DigiByte Foundation (DF) are an advantage for DigiByte (DGB). As the community is growing, these groups will most likely keep going, improving and more of these working groups will appear in the future. 

Developers 

  • Jared Tate - Founder of DigiByte & Core Developer 

  • Gary Mckee (WB)- Core Developer  

  • Frederick (GTO90) - Core Developer  

  • MentalCollatz - Core Developer  

  • Noah Seidman -Android specialist  

  • Yoshi Jäger - iOS & Core Developer, UX-Designer, Mobile- & FullStack-Developer. Machine learning and blockchain expert. Master in C/C++, VanillaJS, Swift, Bourne/Bash  

  • Thomas Ploentzke- Software Developer, currently mostly (but not only) for application in macOS and iOS environment. Skills in all macOS and iOS core functionalities, including persistency, audio, bluetooth and uikit 

Mining

DigiByte (DGB) mining is the process in which new DigiBytes (DGB) enter circulation on the global network. This process is carried out through a process known as Proof of Work (PoW). Proof of Work (PoW) is considered the most secure method of ensuring trust and security on the blockchain. Mining is conducted by donating your computing power to process transactions. Essentially you mine "blocks" of transactions on the network.  You will need either a GPU, ASIC or an FPGA hardware attached to your computer to mine DigiByte (DGB). You will also need specialized mining software and a DigiByte wallet. 

MultiShield and DigiShield Technologies 

Each of DigiByte’s five mining algorithms includes a devoted difficulty adjustment which is compared to others, so as to balance out the load they work with. This balancing process itself is named DigiShield, with its advanced version designated as MultiShield. Dividing the mining amongst algorithms and applying these technologies should benefit the DigiByte network and help fortify itself against potential malware attacks.  

DigiByte’s UTXO-based model is another building block within the platform’s security architecture. With it, individual tokens are assigned an identifier. Tokens that are received by the wallet are treated as “unspent” except if the user sends them to an alternative recipient, after which they're treated as “spent”. At the identical time, the transactions are validated only in spite of everything the info referring to the transaction are found within the UTXO database. As for the privacy, DigiByte wants to make sure that establishing links between the accounts on its platform is harder by having a party within the transaction use a brand new address for every received transaction. 

Scalability  

The DigiByte team are mindful to the fact that faster block generation times can produce issues with scalability, meaning that individual nodes can have difficulty verifying transactions if they have to maintain track of the entire blockchain history, chiefly with the rising number of users. The team had to develop various technologies in order to deal with the problem. They developed the SegWit protocol upgrade first. This allowed for the effective separation of the transaction verification and information on the transaction in blocks. Resulting in a more compact ledger and the gained ability to implement single confirmation and cross-chain transactions on the blockchain. 

DigiByte also runs the UTXO which, in theory, improves the parallel transaction processing and incentivizes innovations relating to scalability. DigiByte also chose to limit the size and scope of its transaction so they can make them more efficient in terms of resources used and increase its throughput. This is known as “Blockchain Rigidity”. 

 

 

Where to Store Digibyte (DGB) 

 

https://www.bcbitcoin.co.uk/bitcoin-services/wallet-guide/ provides a few different wallets through their site for the storage of DGB. You can find mobile, browser and desktop wallets from 5 different providers all featured on the site. Most of these wallets are unofficial and developed by the community to improve and provide services on the open-source network. 

 

Dedicated Wallet providers such as Exodus are also great for storing, sending and receiving any DGB you may already have or are looking to purchase. It is always recommended that you ensure using a secure wallet, create back-ups and store any sensitive recovery information. As well as, complete your own research and due diligence.

 

Where to Buy and Sell Digibyte (DGB) 

 

You can Buy & Sell Digibyte (DGB) by heading over to the Buy Coins page of our website. Digibyte (DGB) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying DGB has never been easier, simply place your order and provide your wallet address. Once your payment arrives DGB will be sent directly to your wallet. If you choose to Sell Digibyte (DGB) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page. 

 

Conclusion

DigiByte is a rapidly growing open-source blockchain created in late 2013 and released in early 2014. The DigiByte.io website claims that after 6 years of proactive development, DigiByte (DGB) has become one of the ‘safest, fastest, longest and most decentralized UTXO blockchain in existence’. DigiBytes reach also cannot be ignored as it is global in 100+ countries.We have seen an increased interest in Digibyte over the recent months. If people begin to see the benefits and application that Digibyte can bring to commerce and the industry, then one can safely say it will be a strong contender in the crypto industry. 

Digibyte Resources  

Digibyte Website: https://digibyte.io/en/gb.html

Digibyte Block Explorer: https://digiexplorer.info/

Digibyte GitHub: https://github.com/digibyte-core

Digibyte Whitepaper: https://digibyte.io/docs/infopaper.pdf

Social Media 

Twitter: https://twitter.com/DigiByteCoin

Facebook:  https://www.facebook.com/digibytecoin/

Telegram: https://t.me/DigiByteCoin

Reddit: https://www.reddit.com/r/Digibyte/

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