Digibyte is one of the most rapidly growing and decentralized blockchains. Developed in 2013, it is one of the most highly secure and scalable blockchain infrastructures.
DigiByte = Fast POW
Link to the main website
Link to price/market cap
Exchange Ticker (DGB)
Circulating Supply (11.1 Billion)
Total Supply (21 Billion)
Market Cap Ranking
Digibyte is one of the most rapidly growing and decentralized blockchains. Developed in 2013, it is one of the most highly secure and scalable blockchain infrastructures, providing industry leading transaction speed. Digibyte’s technological specifications make it perfect for micro transactions and also its multiple algorithms make it highly decentralized.
- Blockchain Infrastructure
Digibyte’s blockchain speed is cutting-edge, in fact, it has the fastest block times of any cryptocurrency on the market with an equal level of decentralization, a mere 15 seconds. Digibyte transactions are limited in size and scope with the goal to increase speed, efficiency and security while also utilizing Segregated Witness (SegWit). The Digibyte blockchain is used by 100 000+ devices globally on a day to day basis, which along with the implementation of DigiShield and MultiShield make it one of the most secure blockchains on the market. DigiShield is a system created and developed by DigiByte, which re-targets a coin’s difficulty to protect it multi-pools and over-inflation of easily mined new coins.
Digibyte utilizes Proof of Work mining in order to verify transactions. Digibyte provides its miners with a selection of a total of 5 mining algorithms: SHA256, SKEIN, QUBIT, GROESTL and SCRYPT. Each type of algorithm mines one block every 1.5 minutes and is suited towards specific mining hardware, which ensures diversity and provides protection against mining centralization. Miners have a couple of options, either choosing to solo mine or to participate in a mining pool, like DigiHash.
Digibyte’s software infrastructure consists of several layers.
The Core Communications and Global Network Layer connects nodes on the network. It allows for very basic data transfer between nodes and is used as a foundational layer.
The Public Ledger and Digital Assets Layer is where the network’s data gets stored securely in order to prevent data manipulation.
The Application’s Layer is the part of the ecosystem that gets to the end user, involving interface, transfers, APIs and other applications built on the Digibyte blockchain.
Despite the competitive edge, the DigiByte team is always one to under-deliver. Their work on the road map is slow and half of the things listed on it were either fake or development never began. They had a “rebrand” which essentially was the same logo with switched colors. There was even, at one point, a Digibyte Gaming website which turned out to be a complete scam, where people were spent money but they never received the games they paid for, the site got taken down due to “DDoS” and is no longer active to this day. They also employ the use of bots on both Twitter and Reddit to get fake engagement.
The technology behind Digibyte is great, however, the team seems not to care about what happens with the coin at all, the development has been sluggish and nothing interesting seems to be happening with the coin for quite a while. The team needs to invest less in fake twitter bots and more on proper marketing for their project.
- Lots of exchanges
- No direct backing (asset, profits, commodity)
- Slow road map
- Associated with scams