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DigiByte was created with the goal of creating a fast and secure cryptocurrency that could reach a wider and more decentralised community than Bitcoin.
The first Digibyte block was mined on January 10, 2014, and included the headline from USA Today: “Target: Data stolen from up to 110M customers," hashed into the Genesis block to mark the importance of security in digital transactions. Also included was a premine to pay developers and early adopters.
It allows moving money over the internet similar to PayPal & Western Union but with many improvements, including lightning fast transactions with minimal or no fees.
Digibyte modified the difficulty algorithm to Digishield increasing his satoshi level. This asymmetrical technology is the basis of many other blockchains.
Digibyte was the first blockchain to generate a fork from a single proof-of-work algorithm to multi-algorithm mining.
DigiByte this year has implemented Segregated Witness (SegWit) via DigiSync, Lightning Network, cross chain transactions and atomic swaps becoming the second major cryptocurrency to implement soft fork.
To protect the DigiByte blockchain against multi-pools that mine large numbers of DigiByte at a low difficulty was activated DigiShield.
Where every block difficulty is calculated between each block, enabling a faster correction when a multi-pool begins or ceases contributing to DigiByte, then calculates once every fortnight.
A lot of cryptocurrency have implemented DigiShield with the help of the DigiByte team, for example Dogecoin, Startcoin, Nautiluscoin, and Zcash.
DigiByte is based on proof of work (PoW) mining methods to fix the different types of capabilities that exist, using dedicated ASIC mining, GPU and CPU mining.
Many users access at the DigiByte mining pools and they creates a more decentralised blockchain where before were unable to mine on its original single-algorithm.
DigiByte block mined every 60 seconds and manage up to 140 transactions per second.
The Digibyte blockchain dynamic system will increase every two years the number of transactions per second by halving the block time.
In 2017, capability reaches 560 transactions per second, with a maximum capability of 280,000 transactions per second to be reached in 2035. Over 8 billion DigiByte crypto coins issued and the maximum number of coins is 21 billion, will be reached 21 years after creation, maybe in 2035. The number of coins is a deliberate ratio of 1:1000 to Bitcoin.
The five DigiByte mining algorithms (Sha256, Scrypt, Groestl, Skein & Qubit) use Asic machine. There are 6 platforms for the DigiByte blockchain and currency. These include DigiByteGaming, DigibyteTip, DigiByte Market, DiguSign, Digi-ID and DigiHash.
DigiHash is the developer mining pool and it carriers Sha256, Scrypt, Skein and Qubit algorithms. The developer community obtains fees of mining pool to keep interest to evolve Digibyte. DiguSign is based on smart contract platform to run on DigiByte blockchain. The technology embeds a secure cryptographic SHA256 hash of a document and embeds it in the Digibyte blockchain, allowing anyone to store, notarize, and validate any document in public in a secure, decentralized manner.
Launched for beta testing, DigiByte Gaming is the first platform of its kind to begin ushering in the era of the Blockchain attention economy through a disruptive and innovative approach to digital advertising powered by blockchain technology.
The most popular games such as League of Legends, Counter-Strike Global Offensive and World of Warcraft running on DigiByte Gaming platform developed by DigiByte team. All the online gamers are rewarded with DGB. After the integration of Minecraft game platform, DigiByte will conquer a great value and his market cap will be higher.
Players get rewards on the basis of their game performance with DigiBytes sent directly to their DigiByte Gaming wallet. DigiByte (DGB) is a decentralized payment network & digital currency, inspired by Bitcoin. It now has over 10,000 users and growing.
Advertisers can sponsor the DigiBytes paid out through the gaming platform and achieve full engagement with the "hard to reach" millennial demographic.
DigiByte Gaming platform was attacked by a heavy DDos and the site was unreachable.
DigiByte open source project has attracted developers to build great applications for the DigiByte world.
One fact more, in June, 2017, DigiByte has participated a tech event presentation called “DiguSign” for Citibank. This Tech integrity challenge has showed the enormous potential at the big world as IBM, Microsoft, Facebook, LTP, PWC, Clifford Chance, and MasterCard.
DigiByte’s presentation brief reads as follows: “An easy-to-use, workflow compliment to the trade, logistics, and related banking industry, via a web and mobile platform to allow users to create blockchain identities.”
That’s real business right there – and it’s more REAL than any other comparable sort of hype.
Should I buy a bunch of Digibyte? That’s the million-coin question, isn’t it?
Don’t expect the information above to make or break the market in the near future!
Today Market Situation
Wallets:
DigiByte Core Windows, DigiByte Core Mac, DigiByte Android, Chrome Gaming Wallet, Coinomi Wallet, Jaxx Wallet.
Exchanges that trade DigiByte:
Poloniex, Bittrex, Shapeshift, Litebit, Yobit, Cryptopia and Novaexchange.
Website https://digibyte.co/
Thanks to read my post.
Sincerly,
Paolo News
This is very good. Have learnt from this post. Keep it up
Thanks @talk2liams
Nice information @paolonews. Then Digibyte has a very good future and must have to hold it for long. right?
Yes, Digibyte and others Altcoins have a great future, so hold the most significant with great project and potential..and let we see where they go..maybe explode as Bitcoin maybe not..you invest only few cents..
How do I subscribe for digibyte. What is tbe address of their website?
at the final of the post is the website too.
Website https://digibyte.co/
Awesome post @paolonews, great to see your are taking the time to right such an extensive piece. Steemit needs more people like you!
Thanks @boye
I'm try to enter in this new world in the best way.
if u don't want follow follow just say no , don't need to be an ass
ass are you and your family..
you are a parasit who look for money...sell your ass you will make more money idiot.
Good points in this post. Interesting to see I'm not the only one that is thinking about this. Blockchain is here to stay, therefore we shouldn't look at what most people invest in but in the real quality projects, with great teams, management and a great product. Some people are still investing in "an idea". Is an Idea worth 100m+ USD to you? Besides coinmarketcap.com there is: https://www.coincheckup.com This site gives you a complete in depth investment analysis on every crypto in the market.
thanks for your comment, it's very helpful.
DGB is faster and easier to use, and can cater much more bigger volume of transactions blocks compare with BTC folks, DGB has Segwit also.
Pls take note now China occupies 81% of the mining capacity of Bitcoin worldwide, if China government announce "force-closure of all the mining factories in China", BTC/BCH/B2X all will be in big trouble of transferring blocks. Even if throw all the transactions of Bitcoin to Digibyte, Digibyte will still run smoothly, see full explanation as below youtube. If that would happen, you will see big jump in all the altcoins as substitute including Digibyte.
29th October 2017 Digibyte’s Founder Jared Tate on Texas Bitcoin Conference in Austin, Texas.
concise nice info
ok
I hate the person like you..you need to contribute with a quality comment..no trash..Steemit doesn't work in this way..or you still understand that?the next time I'll flag you.
thanks. for your fake upvote and to have retire it...you will never grow in this way, little man.
fuck off
who are you?i didn't reply to you. are you the same @macstrong?
you have a low reputation, do you want I flag you?