Top Cryptocurrencies

What is Digibyte? A Beginners Guide To The Highly Decentralized Blockchain

DigiByte is a public highly decentralized blockchain that is rapidly growing. DigiBytes represent digital assets that cannot be destroyed, hacked or counterfeited. It makes them ideal for protecting objects of value like information, currency, property or other relevant digital data.

DigiByte uses the DGB token which is currently trading at $0.022 with a market cap of $244 million.

DigiBytes that are sent over the DigiByte blockchain are forever recorded on an immutable public ledger that is decentralized. This happens on thousands of computers across the planet.

DigiByte

Features That Make DigiByte Secure

  1. It utilizes five secure and advanced cryptographic mining algorithms that help prevent mining centralization as compared to single algorithm blockchains.
  2. It’s globally decentralized. The DigiByte blockchain is spread over 100,000 plus serves, computers, phones, and nodes worldwide.
  3. It has superior difficulty stability that helps protect its blockchain. Difficulty adjustments help protect blockchains from several forms of malicious attacks. The platform creates and implements DigiShield & MultiShield which ensures that it has the most advanced difficulty stability of any blockchain in the world today.

Features That Make DigiByte Faster

  1. DigiByte has the fastest blocks of any public UTXO blockchain in the world today. The blocks are created at a speed of 15 seconds.
  2. Its blockchain is rigid. Unlike other transactions that happen on different blockchains, DigiByte transactions are limited in size and scope to increase speed, efficiency, and throughput. Its something that helps maintain security.
  3. Its blockchain implements SegWit early. Segregated witness allows for several innovations to occur on top of the DigiByte blockchain. They include cross chain transactions and single confirmation transactions.

Features That Make DigiByte Forward Thinking

DigiByte

  1. The platform combines artificial intelligence with advancements of its blockchain to explore innovations in automation and data analysis.
  2. It offers a solution to cybersecurity issues. The platform’s blockchain technology can be leveraged and applied to different applications. It helps fix 90 percent of the most common vulnerabilities that affect the internet today.
  3. It has IOT devices in mind. Currently, Digibyte is focused on applying its security to IoT devices and services which require robust communications.

Features That Make DigiByte Different

DigiByte

Since its launch, the platform’s blockchain has been in constant development for five years. One of its main goals is to position itself towards building a secure and decentralized digital future. It plans to make this possible by utilizing its unique combination of problem-solving experience by pioneering innovations.

With this in mind, let us look at the features that make it different.

  1. It has been tried and tested for over five years. Its blockchain has been battle-hardened and tested for years. These tests have been based on proven blockchain technology.
  2. It possesses industry leading transaction speeds coupled with quicker confirmation times. It’s something that makes the platform one of the safest ways to send value using the blockchain.
  3. It utilizes multi-algorithm mining. DigiByte uses five mining algorithms. It was one of the first and currently active blockchains to hard fork from a single mining algorithm to five.
  4. Unlike many other projects within the blockchain space. DigiByte has not been funded through an ICO, pre-sale or token sale. There is also no private company that controls its blockchain. It’s something that aligns well with its vision of a decentralized future.
  5. The platform has a fixed number of tokens that will ever exist on its blockchain at 21 billion. These 21 billion DigiBytes will be created within 21 years, and each is divisible to eight decimal places.
  6. Its one of the first blockchains to implement industry critical features. These include Digishield, MultiAlgo, SegWit, and MultiShield.

In summary, DigiByte is:

  • Highly secure and scalable.
  • It has manageable units for adoption.
  • Its tried and tested technology for over four years.
  • Has industry-leading transaction speeds.
  • It has an active development team.
coinmag

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

Leave a Comment

Your email address will not be published. Required fields are marked *