What is DigiByte (DGB)?
DigiByte slumbered for years until its recent eruption onto the market, surging virtually 1,000% in less than a month. Its price is currently around the $0.06 mark for a token. Here is a coin that boldly markets itself as a better alternative to Bitcoin, so what’s going on? Having existed for 4 years, why hasn’t this coin overtaken the king of cryptos? Buy DigiByte (DGB) India – BuyBitcoin
Buy QASH (QASH) in India with BuyBitcoin. Click here now.
DigiBytes are digital assets that cannot be hacked, destroyed or counterfeited. This makes them perfect for protecting objects of value like currency, information, property or important digital data. It was created as a superior alternative to Bitcoin, and its fans argue that over time its superior technology will win out against Bitcoin, Litecoin, and other top digital cash options. The DigiByte blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization.
Team Behind DigiByte
DigiByte’s credibility rests on the shoulders of Jared Tate, who developed DigiByte in 2013 and launched the genesis block in January 2014. DigiByte was launched without an initial token sale and with little fanfare, and at the time, it was one of only a handful of public blockchain projects. It’s important to note that the DigiByte project is unlike Bitcoin in the sense that it’s an open-source project and its team is composed of dozens (possibly more) of contributors around the world.
Trade with BuyBitcoin now. Click here now
Blocks, Mining, and Hashing Algos
DigiByte launched its genesis block on January 10th, 2014. At launch, it used a single proof of work algorithm. Soon after, however, DigiByte conducted a hard fork to introduce a total of five proof of work algorithms. Splitting the mining between algorithms encourages decentralization and increases the security of the network.
A new DigiByte block is mined approximately every 15-18 seconds. Each of the five mining algorithms mines one block every 1.5 minutes. Within each block, transaction sizes are limited. DigiByte was also the first to implement Segregated Witness technology, helping keep its blockchain small and scalable. The fast blocktime combined with four years of existence means DigiByte has the longest blockchain currently in existence. Longer even than Bitcoin’s.
DigiByte also claims to be more secure than other currencies. Putting security first to DigiByte means making sure the entire platform is as decentralized as possible. This is part of the reason why DigiByte’s team hasn’t grown significantly. They’ve left much of the promotion and development of DigiByte up to the community, in true decentralized fashion. The problem, of course, is one of coordination. While many people have contributed to the DigiByte code base and proselytized the platform, it has largely been ad hoc, without much clear direction from the DigiByte Foundation.
Future of Digibyte
Traction is the name of the game for DigiByte. So far in its four-year history, it hasn’t gotten much. 100,000 nodes is a respectable network size for an alternative currency. However, DigiByte is a relatively old currency, and it has had opportunities to gain massive support with the right messaging and public relations.
This is how Bitcoin changed everything for cryptocurrencies.Click here to know
DigiByte is currently gaining traction in the gaming community. An offshoot of DigiByte, DigiByte Gaming, offers DGB to gamers in exchange for time spent playing certain games.
Buy DigiByte (DGB) in India
BuyBitcoin will soon add DigiByte (DGB) cryptocurrency to the platform Keep visiting for updates.
- Over 25 coins listed to trade in on BuyBitcoin.
- Live trading 24/7 with zero buy-sell price difference.
- Open order book support, so you can set your buy and sell orders at a rate different from the market.
- Secured with utmost standard of the industry.
- Our 24/7 customer support team is always there to help you out.