DigiByte is a public, rapidly growing and highly decentralized blockchain. DigiBytes are digital assets that cannot be destroyed, counterfeited or hacked, making them ideal for protecting objects of value like currency, information, property or important digital data. It is an advanced crypto currency that has quite a few original features with the most interesting being the fact that it can transmit what are called digibytes over the blockchain. There’s also the possibility of a permanent payment ledger which is excellent for auditing purposes.
DigiBytes can be sent over the DigiByte Blockchain and forever recorded on an immutable public ledger that is decentralized on thousands of computers across the planet. Using the blockchain technology it aims to be at the forefront of the digital processing technology and is rapidly gaining more currency and support from the blockchain fraternity.
Additionally, Digibyte provides state of the art security with several important options such as Global Decentralization with a vastly well-established network. The DigiByte blockchain is spread over a 100,000+ servers, computers, phones, and nodes worldwide.
It also offers 5 Mining Algorithms. DigiByte uses five secure and advanced cryptographic mining algorithms to prevent mining centralization compared to single algorithm blockchains.
Difficulty adjustments protect a blockchain from several forms of malicious attacks. By creating and implementing DigiShield & MultiShield, DigiByte has the most advanced difficulty stability of any blockchain in the world today. DigiByte is essentially designed to be used as a transactional currency for day-to-day exchanges which require fast speeds and low fees. While this might not seem remarkable on its own, it is a positive factor given how currencies such as Ether and Bitcoin are currently facing serious scalability issues.
DigiByte also lays claim to having the longest UTXO blockchain in the world, i.e. more transactions have been committed on their blockchain than any other. If you compare the speeds of DigiByte and Bitcoin (BTC), it takes Bitcoin on average 10 minutes to verify a block in its blockchain whereas it takes DigiByte only about 15 seconds. Similarly, Bitcoin can handle 7 transactions a second while DigiByte can handle 560 and the number is scheduled to double every 2 years.
Bitcoin, and to a lesser extent Ethereum, have been questioned recently on their respective abilities to handle large volumes of transactions, both economically and at the required speeds, to truly be viable currencies. While both of these coins are working on solutions, DigiByte has managed to avoid them all together so far.
DigiByte has a history of innovation and forward thinking in the crypto space. It adopted Segwit before Bitcoin did, and uses a multi-algorithm mining system as previously mentioned. DigiShield, an update which protects the blockchain against multi-pool mining dominance, has also been adopted by other cryptocurrencies since it was introduced in 2014. DigiByte’s major point of difference is it’s suitability for mass-adoption. It is fast, secure and decentralized, but like all tokens, DGB’s success will be dictated by real-world adoption and meaningful partnerships.