DigiByte is an open source decentralized cryptocurrency, launched in January 2014. The development team has since been trying to create a decentralized global blockchain, focusing on cyber security, payments and secure communication.
Just like other cryptocurrencies (Bitcoin, etc …), DigiByte is also a virtual currency that can be used as a means of payment outside the jurisdiction of government rules and regulations.
DigiByte was the first large altcoin to activate SegWit, they did this in April 2017. It was also one of the first cryptocurrencies that was concerned about possible transactions per second, it even has a special piece of code that doubles the blocksize every two years.
2015: 280 transactions per second
2017: 560 transactions per second
2019: 1,120 transactions per second
2021: 2,240 transactions per second
2035: 280,000+ transactions per second
Another important feature is that DigiByte can be mined on five separate mine algorithms, each algorithm mined about 20% of each block. This ensures much greater decentralization than with other block chains.
To create a Digibyte hard fork, an attacker would have to check more than 93% of the hashrate on 1 algorithm and 51% on the 4 others. This makes DigiByte much better protected against PoW attacks than other block chains.
This is the list of supported algorithms:
Sha256 (ASIC friendly)
Scrypt (ASIC friendly)
Groestl (GPU friendly)
Skein (GPU friendly)
Qubit (CPU friendly)
If you plan to invest in Digibyte so that you can trade in the DGB cryptocurrency, we recommend that you use Litebit. This is a Dutch-speaking trading platform on which you can buy and sell Digibyte and other cryptos, but you can also save them immediately.