Usually a cryptocurrency needs one hash algorithm. But there is an ecosystem of tokens that can be mined on five different algorithms. The project is called Digibyte (DGB), the cryptocurrency is of interest for its unique architecture, which fixes all the shortcomings of the top blockchain networks.
The system has a high throughput and its full potential has not yet been realized. In this review, we will talk about the technical features of the Digibyte digital coin, as well as how to earn it and where to store it.
The history of the development of the Digibyte (DGB) project
One of the active members of the bitcoin community, Jared Tate, stands at the origins of the Digibyte company. Having entered the cryptoindustry in 2012, Jared helped develop the ecosystem of the first cryptocurrency, but a year later he decided to launch his own project that would be free from the vulnerabilities of the Bitcoin payment network. Little is known about the rest of the team; many still prefer to work anonymously. In January 2014, a full-fledged crypto network was already launched. There was no pre-sale of tokens, the project started quietly without an advertising campaign. The miners found out about it on the Bitcointalk pages and immediately got down to work. In addition, network tokens are distributed through numerous digibyte faucets. Initially, the network worked on one algorithm, but after three months a hard fork was made to implement multialgo technology.
- DigiByte is based on UTXO technology. Blocks are created in turn on each of the five mining algorithms. The average block generation time is 18 seconds, the number of transactions in a block is limited. The dgb blockchain is the longest chain of all existing cryptocurrencies.
- The DigiByte ecosystem has a multi-tiered infrastructure.
- The global network connects all nodes and provides the basic level of information transfer.
- The public blockchain stores all the network data, it is with it that miners work.
- Decentralized Application System.
Scaling problems are solved thanks to the SegWit protocol. Segregated Witness technology separates transaction confirmation from block transaction data, as well as innovative methods of performing financial transactions such as cross-chain transactions and single confirmation transactions. DigiByte’s network bandwidth is 280 transfers per second, and the developers plan to increase it to 2000.
Where to buy coins
DigiByte is a digital asset traded on 25 exchanges. At the time of this review, the average digibyte rate is equivalent to $ 0.00643584 or 0.00000091 BTC per coin. DGB can be exchanged for other cryptocurrencies as well as for fiat. The largest number of transactions occurs on the platforms:
Trading pairs supported
DGB / BTC;
DGB / ETH;
DGB / USD;
DGB / USDT.
On the YoBit you can find dgb to etn exchange . Clients of the Coinfield platform can exchange DGB for the euro and Canadian dollars. To trade on any of the exchanges, you need to register, and to work with traditional money, complete identity verification. But, the Russian-language platform YoBit does not require documents yet. By creating an account on YoBit, you can buy or sell DigiByte coins, for example, for QIWI rubles, without providing your passport data.
DGB is a project with a unique technology that solves many of the problems of peer-to-peer ecosystems. The developers are pursuing a consistent policy of stabilizing the exchange rate and even announced plans to link the token to the price of the traditional currency.