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DigiByte (DGB) Cryptocurrency

DigiByte (DGB) Cryptocurrency

What is DGB?

Digibyte was founded in 2014 by its lead-developer, Jared Tate, which aims to concentrate on increasing the transaction speed, decentralization, and security. In fact, the DGB technology performs significantly better than most other cryptocurrencies, which makes it special and one of the best performing altcoins. Considering the fact that it is 40x faster than Bitcoin as it has 15 seconds block timing. It has been designed to have the fastest block speed on the UTXO Blockchain, which makes it exceptional.

The Digibyte project became the world’s first blockchain to install SegWit (Segregated Witness), which means that transaction confirmations are kept separated from the information stored within the block, which helps to achieve faster transactions. The Digibyte team aims its technology to act as a global payment system used by people all over the world.

In the highly volatile world of cryptocurrencies, favorable factors like tight security protocols and an advanced algorithm play a really pivotal role in influencing investments. By placing the security factor before everything else, DigiByte team’s primary objective is to deliver highly secure services to investors.

Why DigiByte is different?

DigiByte has been working for years thus it managed to prove its security as a blockchain network. Originally, it was launched as a single proof-of-work algorithm but the most unique feature of the project is something else. It was made to prevent mining centralization and to make the network more secure and decentralized therefore it uses five mining algorithms while other networks only use one.

In addition, DigiByte claims to have the “most advanced difficulty stability” of any blockchain through DigiShield, which is being used in Ethereum, Bitcoin Cash, Zcash, Dogecoin, and many other blockchains. DigiShield re-targets DigiBytes ‘ difficulty in realtime to protect against multi-pools and an over-inflation of easily mined new coins.

DigiByte is 40x faster than Bitcoin because of its 15-second block time compared to BTC 10 minutes blocktime. DigiByte was also the first major Altcoin to implement Segregated Witness technology to improve scalability. From a security and scalability perspective, DigiByte unarguably is ahead of Bitcoin and Litecoin.

How is DigiByte produced?

DigiByte has a fixed supply and distribution schedule. A total of 21 billion DigiByte will be created within 21 years. Since there was no ICO or Token Generation Event, new DigiByte have been and always will be created through mining. The first DigiByte was mined in 2014 and the last of the 21 billion coins will be mined in 2035.

How to buy DigiByte?

Although DigiByte can be mined, doing so is a time-consuming process, and requires expensive hardware to make it worth your while. That means you’ll likely be better served by buying it outright. 

How you go about doing this depends on your payment method, and how much DGB you are looking to buy. But in general, buying in using another cryptocurrency is the cheapest way with the fewest obstacles, while using your debit or credit card will likely be more expensive, and will almost certainly require you to complete KYC verification first.

According to CoinGecko, DigiByte is currently listed on several dozen cryptocurrency exchange platforms, including well-reputed platforms like Binance, Kucoin, Bittrex, and OKEx. Through one of these platforms, it can be traded against other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDt). 

For those looking to purchase DGB with a credit or debit card, there are fewer options. Currently, just a handful of brokers offer fiat purchases for DGB, including Changelly and Coindirect. The DigiByte Foundation also allows users to purchase DGB using credit or debit cards through its partnership with Change Angel.


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