FAQs

What is DigiByte?

DigiByte is a public, rapidly growing, decentralized blockchain.

 

Who created DigiByte?

DigiByte was created by Jared Tate.

 

What is a Blockchain?

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Think of a series of Excel spreadsheets linked together

 

What is a DigiByte Block?

Blocks occur on the DigiByte network every 15 seconds. Think of a block as an Excel spreadsheet that records all the transactions that occur on the DigiByte network in the span of

15 seconds.

 

How many DigiByte will be created?

From the year 2014 through 2035 21 billion DigiByte will be created in 21 years.

 

What is Mining?

Mining is the proof of work cryptographic process that secures the DigiByte blockchain and allows for new DigiByte to be minted.

 

How many mining algorithms does DigiByte have?

DigiByte is unique in the fact that it has five independent mining algorithms that further enhance DigiByte security.

 

What is a genesis Block?

The Genesis block is the first block in the blockchain.

 

What is DigiByte genesis Block?

DigiByte Genesis block was generated on January 10, 2014. The Genesis block for DigiByte was hashed from the headline: "USA Today: 10/Jan/2014, Target: Data stolen from up to 110M customers."

 

What does UTXO stand for?

UTXO is geek-speak for “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid.

 

What is Digi-ID?

Digi-ID is a security protocol built on DigiByte blockchain technology that empowers users to effortlessly sign-in to websites, applications, and even into the internet of things - building entrances, for example. Digi-ID eliminates the often frustrating username and password requirements for authentication. With Digi-ID, the hassle of keeping track of various usernames and passwords is a thing of the past. Digi-ID works by automatically generating a unique DigiByte address for each site, application, or product for which a user needs authentication. Because Digi-ID uses public / private key cryptography, there are no passwords or usernames at risk. This method not only protects the consumer, it also protects the website or services that the consumer uses. Even with otherwise outstanding security, should a consumer re-use credentials from another vulnerable site, that consumer puts other users’ data at risk. Digi-ID eliminates all of these security issues. Digi-ID does not collect or store any data about its users. This means there is no liability from using a third-party “identity” service, nor will the website or application inadvertently collect any data from a user unless the service explicitly asks for it. This further strengthens the security while also bolstering end-users’ confidence that their data is neither tracked nor at risk by others’ negligence. With Digi-ID, there are no central servers storing personal information. Through true decentralization, there is not external point of failure for a hacker to target to exploit your platform. Further, because Digi-ID does not save any data to the blockchain, none of a user’s data is at risk of being hacked or stolen. Digi-ID is completely free; there are no fees, subscription services, or maintenance costs. There is no advertising or tracking. Digi-ID’s cost is its second best feature. Its primary feature is that, in accordance with Digi Byte’s security prioritization, Digi-ID is a more secure, yet simple method available to log in to websites, applications, and products. Digi-ID is so versatile, it can be used to secure the front door to your house. Since it is built on DigiByte blockchain technology, Digi-ID is anonymous and allows for unlimited scalability while promoting GDPR compliance.

 

What is Dandelion?

Dandelion helps to protect your physical privacy by making it significantly harder to identify where your transaction came from. This prevents people from using the IP address that a transaction came from to attempt to locate you. Dandelion does not make transactions private in the way that RingCT (Monero)or zkSNARKs (ZCash) would, however it does help DigiByte take a major step forward towards protecting the privacy and security of our users. Dandelion is about protecting your location by making it difficult to ascertain from a transactions source IP Address. Think of it like a default / built-in protection on the network-layer of the DigiByte blockchain so that people don’t need to rely on TOR or i2p (Though, Dandelion can work in tandem with TOR etc). You see if somebody malicious was able to find your IP address, and they knew that you were sitting on half a million dollars’ worth of cryptocurrency (Not just DigiByte, but say also Bitcoin), then they could potentially use that in an attempt to physically track you down with the goal of stealing your computer, private keys and cryptocurrency. Naturally nobody wants this, but it’s something to be mindful of and aware of the way that blockchains work. It’s also where Dandelion comes in as a solution.

 

 

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