DigiByte Price

About the coin

DigiByte is a rapidly growing open-source blockchain that was created in late 2013 and released in early 2014. It has become one of the safest, fastest, longest, and most decentralized UTXO blockchains in existence. Unlike many other cryptocurrencies, DigiByte has never been funded through an ICO or significant premined coins, and it operates without a CEO or a controlling company. It is a volunteer-based, global community-driven project.

Main features

DigiByte uses five cryptographic algorithms and real-time difficulty adjustment to prevent malicious mining centralization and hash power fluctuation. One of these algorithms, Odocrypt, changes itself every 10 days for ASIC resistance. DigiByte blocks occur every 15 seconds, making it 40 times faster than Bitcoin and 10 times faster than Litecoin. The blockchain supports up to 1066 on-chain transactions per second with negligible fees. DigiByte has introduced multiple blockchain firsts, such as DigiShield guard, MultiAlgo mining, SegWit implementation, Odocrypt algorithm, and Dandelion++ privacy protocol.

How it works

The DigiByte blockchain consists of three layers that provide network infrastructure, security, and communications. The top layer functions like an app store, allowing for the creation of digital assets and decentralized applications (dApps) using the DigiAssets protocol. The middle layer provides security and administration, recording all transactions on an immutable public ledger. The bottom layer facilitates communication and operating procedures across the global network. DigiByte is a 100% Proof of Work (PoW) blockchain that can be mined with five algorithms, contributing to its decentralization and security. The DigiAssets layer allows for the decentralized issuance of assets, tokens, smart contracts, and digital identity, offering limitless possibilities for real-world applications.