Cryptocurrency: DigiByte: (DGB)
Official Website: https://digibyte.io/en/gb.html
What is DigiByte?
DigiByte is a cryptocurrency which was imagined by its creator Jared Tate as a more reliable, decentralized and faster variation of Bitcoin back in 2014. DigiByte since its release has developed an ecosystem designed to counter the main challenges that the creators saw facing mainstream and more well-known cryptocurrencies such as Bitcoin.
Circulating Supply 13,111,657,259 DGB
Maximum Supply 21,000,000,000 DGB
All Time High $0.142889
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
Block Explorer https://chainz.cryptoid.info/dgb/
Social Media Statistics
Twitter Followers 159,900
Telegram Group Users 8,959
Development of the project is concentrated solely on by the Core Development team & the Core Outreach team is targeted solely on outreach with cooperation from the DigiByte Awareness team. There are some that are organized into groups, where they using their skills to make awareness and encourage adoption. Because the community is growing, these groups will possibly continue to grow and improving, and more of those working groups will appear within the future.
⦁ Jared Tate – Founder of DigiByte & Core Developer
⦁ Gary Mckee (WB)- Core Developer
⦁ Frederick (GTO90) – Core Developer
⦁ MentalCollatz – Core Developer
⦁ To have the DigiByte ⦁ website translated in 34 languages.
⦁ For the New DigiByte ⦁ website to be launched.
⦁ DigiByte to be added to ⦁ Flare Wallet.
⦁ DigiByte to be added to ⦁ Flyp.me.
|Item ID||Summary||Submitted by||Bounty available?||Being worked on?|
|0002||DigiAssets search in DigiExplorer||ChillingSilence||No||No|
|0003||Burn Assets on Android||ChillingSilence||No||No|
|0007||Dividends for DigiAssets||ChillingSilence||Yes||Yes|
|0009||Document Notarization website||ChillingSilence||Yes||No|
|0010||Update Core Wallet UI||ChillingSilence||No||Not yet|
|0011||Videos for the website||Murat||Potentially||Not yet|
DigiByte mining is the process in which new DigiBytes enter circulation on the global network. This process is done through a process called Proof of Work. PoW is considered the most secure mthod of ensuring trust and security on the blockchain.
Mining is conducted by donating your computing power to process aka 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. You will also need specialized mining software and a DigiByte wallet.
MultiShield and DigiShield Technologies
Each of DigiByte’s five mining algorithms includes a loyal difficulty adjustment which is compared to others so on balance out the load they work with. This balancing process itself is called DigiShield, with its advanced version designated as MultiShield. Dividing the mining amongst algorithms and applying these technologies should benefit the DigiByte network and help it fortify itself against potential malware attacks.
DigiByte’s UTXO-based model is an additional building block inside 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 alternate recipient, after which they’re treated as “spent”. At the identical time, the transactions are validated only in spite of everything the data concerning 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.
The DigiByte team are mindful to the actual fact that faster block generation times can produce issues with scalability, meaning that individual nodes can have difficulty verifying transactions if they need to take care of track of the whole blockchain history, chiefly with the rising number of users.
The team had to develop various technologies so as to cope with the matter. They developed the SegWit protocol upgrade first. It allows for the effective separation of the transaction verification and knowledge on the transaction in blocks. This resulted during a more compact ledger and therefore 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 referring to scalability. DigiByte also chose to limit the scale and scope of its transaction in order that they can make them more efficient in terms of resources used and increase its throughput. this is often called “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 the BC Bitcoin website. Digibyte (DGB) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Feel free to have a look at our DGB buying guide here for more information.
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 has become one in all the ‘safest, fastest, longest and most decentralized UTXO blockchain in existence’. DigiByte’s reached also cannot be ignored because it is global in 100+ countries.
We have seen an increased interest in Digibyte over the recent months. If people begin to work out the advantages and application that Digibyte can awaken in commerce and also the industry, then one can safely say it’ll be a powerful contender within the crypto industry.
Digibyte Website: https://digibyte.io/en/gb.html
Digibyte Block Explorer: https://chainz.cryptoid.info/dgb/
Digibyte GitHub: https://github.com/DigiByte-Core
Digibyte Whitepaper: https://digibyte.io/docs/infopaper.pdf