Digibyte is one of the hidden cryptocurrency gems on the market. It can handle over 1066 transactions per second and aims to increase the capacity to process thousands of transactions per second. Block creation takes only 15 seconds, whereas the Bitcoin block is created every 10 minutes. Nice advantage, isn't it? Despiteffering the top level security, one of the highest transaction and block creation speed on the market, this asset still remains somewhat underestimated.
What is DGB coin?
Although you won’t find much tech details about the project,Digibyte is a well known cryptocurrency on the market with lack of promotion and official information about the project.
Digibyte provides these features:
- 5 mining algorithms
- 3 Blockchain Layers
- Around 200,000 nodes
- Decentralized miing
- Real time difficulty adjustment
5 Mining Algorithms
The method of 5 Mining Algorithms ensures that the system will be stable and protected from 51% attack. Each mining protocol provides its own requirements and allows almost everyone to mine DGB.
Mining Algorithms Used in Digibyte
- Scrypt (ASIC mining). Used in Litecoin and Dogecoin.
- SHA256 (ASIC mining). Used in Bitcoin and most of it's forks.
- Qubit (GPU, CPU mining). Used in Digibyte.
- Groestl (GPU, CPU mining). Used in Digibyte, GroestlCoin. Hardware friendly.
- Skein (GPU mining). Used in Digibyte.
DigiByte is the first cryptocurrency with implemented Segregated Witness technology (Segwit). Segwit helps resolve scalability issues, saving up space in blocks by holding information on confirmations separately.
3 blockchain Layers:
Applications layer is a layer for decentralized applications.
Digital Assets layer is responsible for transferring transactions and mining. This layer transferes and holds most of the data. Almost 200,000 nodes are working on it's stable work.
Core Protocl is responsible for consensus between nodes.
Digibyte Real World use cases:
Digusign project. Working in China and using smart contracts technology allows people to store and sign documents securily in blockchain.
Digi-ID. Project used to make authentification process more decentralized and cryptographic.
Where to store DGB?
Try out new non-custodial solution. With Atomic Wallet interface you can easily store and exchange DGB + over 300 assets. Only you have control over your funds. Private keys never leave your device.