What is DigiByte?
DigiByte is considered as a public, fast-growing and highly decentralized blockchain. It is a digital asset that cannot be destroyed, forged or hacked, making them ideal for guarding objects of value like currency, data, property or important digital information.
DigiBytes can be transmitted over the DigiByte Blockchain and forever marked on an immutable public ledger that is decentralized on thousands of computers all over the planet.
How Does DigiByte Works?
DigiByte at first glimpse is another digital asset that subsists on its own decentralized public blockchain. It successfully claims to be “the world’s longest, fastest and most reliable UTXO blockchain in existence.” It was built as a superior option to Bitcoin, thinking a faster, more secure cryptocurrency that reaches a broader community. The blockchain is expanded over more than 100,000 nodes, endeavoring for the final level of decentralization.
Whereas Bitcoin’s regular block time sits at 10 minutes, DigiByte’s 15 seconds gives users just enough time to open devices. The project has an imperative need for speed, with the block time doubling every two years – efficiently turbocharging the network’s number of transactions per second with an unbelievable projected rate of 280,000 p/s in 2035. DigiByte’s current scale of 560 p/s already overshadows Bitcoin’s 7 p/s.
DigiByte’s peripheral concern was to bridge the gap between gaming and digital currencies, with players being compensated in-game with the DGB token. Things started with a bang, with DigiByte adding many integrations with games that include Minecraft and League of Legends. After giving out millions of tokens, the team shut down DigiByte gaming in May 2017 after severe technical issues.
What makes DigiByte More Secure?
The DigiByte blockchain is spread over 100,000+ servers, computers, phones, and nodes worldwide.
5 Mining Algorithms
DigiByte utilizes five secure and exceptional cryptographic mining algorithms to stop mining centralization compared to single algorithm blockchains.
Advanced Difficulty Stability
Difficulty regulations protect a blockchain from several forms of malicious attacks. By designing and executing DigiShield & MultiShield, DigiByte has the most advanced complexity stability of any blockchain in the world today.
What makes DigiByte Faster?
15 Second Blocks
DigiByte has the fastest block speed of any public UTXO blockchain in the world presently with 15-second block timings.
Early SegWit Implementation
Segregated witness acknowledges for several innovations to occur on top of the DigiByte blockchain such as cross chain transactions and single authentication transactions.
DigiByte transactions, unlike other transactions on other blockchains, are limited in size and range to increase speed, efficiency, and throughput. Most importantly this preserves security.
The DigiByte Team
DigiByte’s reliability rests on the shoulders of Jared Tate. While Tate has an important presence both in the physical and online world, the DigiByte project is not similar to Bitcoin in the understanding that it’s an open-source project.
The team is comprised of dozens possibly more of contributors worldwide. While the idea of an open-source venture is commendable, the implementation of such a project is complicated. Almost every sustainable, successful cryptocurrency has a well-documented team composed of experts from a diverse range of industries at least; these are the projects that draw corporate partnerships and public adoption.
That said, the “team” is available across its broad array of social media channels such as Twitter, YouTube, Facebook, and more.