Difference between revisions of "DigiByte"

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DigiByte (DGB) is an open-source cryptocurrency running on the DigiByte Blockchain, a decentralised international blockchain created in 2013. The DigiByte coin was developed in 2013 and released in January 2014 <span class="plainlinks">[https://www.digibyte.io/digibyte-frequently-asked-questions <sup>[1]</sup><sup>]</sup></span>. Although based on Bitcoin, adjustments in the code allow for improved functionality, including 15-second block time and improved security. As of July 2018 DigiByte has a total market cap of over US $500 million.[2]. It is the world's longest, fastest and most secure UTXO blockchain in existence.  
 
DigiByte (DGB) is an open-source cryptocurrency running on the DigiByte Blockchain, a decentralised international blockchain created in 2013. The DigiByte coin was developed in 2013 and released in January 2014 <span class="plainlinks">[https://www.digibyte.io/digibyte-frequently-asked-questions <sup>[1]</sup><sup>]</sup></span>. Although based on Bitcoin, adjustments in the code allow for improved functionality, including 15-second block time and improved security. As of July 2018 DigiByte has a total market cap of over US $500 million.[2]. It is the world's longest, fastest and most secure UTXO blockchain in existence.  
  
<strong><h1>DigiByte Overview<span class="plainlinks">[https://digibyte.io/about-digibyte-blockchain <sup>[3]</sup><sup>]</sup></h1></strong>
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<strong><h1>DigiByte Overview</h1></strong>
  
DigiByte was created by programmer and entrepreneur Jared Tate with the goal of creating a fast and secure cryptocurrency that could reach a wider and more decentralised community than Bitcoin.[4] 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.
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DigiByte<span class="plainlinks">[https://digibyte.io/about-digibyte-blockchain <sup>[3]</sup><sup>]</sup> was created by programmer and entrepreneur Jared Tate with the goal of creating a fast and secure cryptocurrency that could reach a wider and more decentralised community than Bitcoin.[4] 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.
  
 
DigiByte pioneered asymmetrical difficulty adjustment mining with DigiShield, which is a widely used technology and the basis of many other blockchains. It is also the first to blockchain to fork from a single proof-of-work algorithm to multi-algorithm mining.
 
DigiByte pioneered asymmetrical difficulty adjustment mining with DigiShield, which is a widely used technology and the basis of many other blockchains. It is also the first to blockchain to fork from a single proof-of-work algorithm to multi-algorithm mining.

Revision as of 17:51, 12 August 2018

DigiByte Wiki

DigiByte (DGB)

DigiByte (DGB) is an open-source cryptocurrency running on the DigiByte Blockchain, a decentralised international blockchain created in 2013. The DigiByte coin was developed in 2013 and released in January 2014 [1]. Although based on Bitcoin, adjustments in the code allow for improved functionality, including 15-second block time and improved security. As of July 2018 DigiByte has a total market cap of over US $500 million.[2]. It is the world's longest, fastest and most secure UTXO blockchain in existence.

DigiByte Overview

DigiByte[3] was created by programmer and entrepreneur Jared Tate with the goal of creating a fast and secure cryptocurrency that could reach a wider and more decentralised community than Bitcoin.[4] 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.

DigiByte pioneered asymmetrical difficulty adjustment mining with DigiShield, which is a widely used technology and the basis of many other blockchains. It is also the first to blockchain to fork from a single proof-of-work algorithm to multi-algorithm mining.

Global Decentralization

The DigiByte blockchain is spread over a 200,000+ servers, computers, phones, and nodes worldwide.[5]


Soft fork

In April 2017 DigiByte became the second major cryptocurrency blockchain (following Groestlcoin) to implement Segregated Witness (SegWit) via the DigiSync soft fork. The technical milestone laid the foundation for implementation of the Lightning Network and cross chain transactions and atomic swaps.

Hard forks

DigiShield

Activated in February 2014 this hard fork allowed for the DigiByte blockchain to protect against multi-pools that mine large numbers of DigiByte at a low difficulty. It achieves this by recalculating block difficulty between each block, allowing for a faster correction when a multi-pool begins or ceases contributing to DigiByte, rather than recalculating once every fortnight as is the case with Bitcoin. Since then DigiShield has been added into over 25 other cryptocurrency blockchains such as Dogecoin, Startcoin, Zcash, AuroraCoin, BitcoinGold, BitTokens, CasinoCoin, CreativeCoin, Granite, Huncoin, Monacoin, Mooncoin, Nautiluscoin, Quatloo, SakuraCoin, Scorecoin, SmartCoin, StartCoin, SuperiorCoin, And Ubiq, with the help of the DigiByte Core team.

(more to add)

MultiAlgo

Activated in September 2014 from Myriadcoin source code, this hard fork allowed for multi-algorithm mining. Its purpose was to create a number of different proof of work (PoW) mining methods to accommodate the different types of mining capabilities that exist, such as dedicated ASIC mining, GPU and CPU mining. This allows for a larger number of people to access DigiByte mining pools and therefore it creates a more decentralised blockchain with the coins reaching groups who were unable to mine the coin on its original single-algorithm (Scrypt)fork.

MultiShield

Activated in December 2014, this hard fork worked to activate DigiShield across the new MultiAlgo platform and accomplish the same goals on all five mining pools.

DigiSpeed

Activated in December 2015 this was a hard fork that focused on making the DigiByte coin Transaction[7] speeds faster. Block time was reduced by 50% to 15 seconds and new block propagation code was added with the help of Microsoft.




Buying & Storing DGB

Support

Technical info

Using DGB

Mining

Community

Marketing DigiByte

Related DigiByte Websites