DigiByte is an open-sourced, decentralized and public Cryptocurrency which operates on the DigiByte Blockchain. The goal of DigiByte is to create a fast, secure and highly decentralized Cryptocurrency which aims to provide its services to a broad audience. DigiByte as such is one of the oldest, and its community is growing at rapid rates while at the same time developments are also being brought to it in a fast manner. DigiByte hence stresses first and foremost on security, after which comes fast transaction speeds followed by the introduction of new forms of technology in the blockchain and Cryptocurrency world. As a result, DigiByte has speedier transaction speed than Bitcoin, faster processing speeds and a triple-layered blockchain with five algorithms. All these have contributed to making DigiByte the fastest, longest and most secure blockchain which is in existence today.
DigiByte was officially launched on January 10, 2014, and it was created by Jared Tate, a programmer, and an entrepreneur. DigiByte was created with the goal of creating a highly secure as well as fast Cryptocurrency accessible to a broader and decentralized community of people compared to Bitcoin. As such DigiByte holds the distinction as one among the first and oldest Cryptocurrency to hit the market. As a result, DigiByte has gradually branched out over the years, and it has gained popularity worldwide. The gaming community has also received DigiByte Gaming quite well since it offers DigiByte Tokens as rewards while playing games. DigiByte also possesses many advantages regarding transaction and processing speeds, mining speeds, the presence of additional algorithms and the presence of multiple network layers. As a result, despite being a little more than four years old, it is still operating and has a loyal community base.
Using DigiByte to make purchases and carry out transactions is entirely seamless and straightforward. All that is required is for you to have a DigiByte wallet which contains DigiBytes bought from exchanges. After your wallet is filled with DigiBytes, you can accept payments and make purchases for any goods and services, by downloading a wallet and then sending a person which you are paying a DigiByte Address. Using DigiByte is a process, and as such, there is no room for any third parties or other surveillance to handle your business making it safe and secure. At the same time transactions are carried out in a couple of seconds making it extremely fast as well.
DigiByte brings with it a lot of key features which makes it one of the most trusted and used Cryptocurrency in the world, and they are as follows:
1. Security: Security is one attribute that has been a core philosophy of DigiByte since its inception, and this attribute is one of the reasons that make it very popular. The Security aspect of DigiByte has been Five years in the making as such it comes with a host of very powerful and useful security tools. DigiByte is very heavily decentralized; as a result, all its blockchains are widely spread over thousands of servers, personal computers, smartphones, and other smart devices. While in the mining department DigiByte employs five extraordinarily advanced and secure crypto mining algorithms which prevent centralization while mining for currency. On top of that DigiByte uses its difficulty stability programs known as MultiShield and DigiShield to protect blockchains from any form of malicious attacks that may plague and destabilize a blockchain.
2. Speed: The second feature of DigiByte that makes it powerful is its speed, and this is something which DigiByte takes seriously. Beginning with the Block Speed, DigiByte takes the crown as the fastest, with it showing 15 seconds block speed which is not seen in any other public blockchain. DigiByte is also one of the early implementers of the Segregated witness also known as SegWit which allows for other forms of innovations to take place on top of DigiByte's blockchain thus enabling cross transactions to take place between different chains allowing for faster transactions. Further to improve the speed of transactions in DigiByte, the blockchains is rigid, and thus they have a limited and fixed scope and size. The rigidity of the blockchain thus increases the overall speed and efficiency while at the same time maintains security.
3. Adoption of advanced technology: Another thing that sets DigiByte apart from other Cryptocurrency is their forward-thinking philosophy. DigiByte as such adopts and implements various new and advanced technologies which include using their Blockchain technology to counter-attack vulnerabilities that affect the Internet, Applying DigiByte's security tools to the Internet Of Things devices to improve communication and security as well as combining and integrating Artificial Intelligence with the DigiByte's advanced Blockchain technology. All these ventures with advanced technology ensure that DigiByte is always at the forefront of technology, experimenting and exploring new ways to bring innovation to technology as a whole.
Let us look at some of the benefits of DigiBytes
1. Decentralization: Decentralization is one of the most significant advantages of DigiBytes because, with decentralization, almost anyone can mine for DigiByte currency. DigiByte as such provides five algorithms through which mining can be done.
2. Lower Fees: Another benefit of using five algorithms is that the transaction fees are kept relatively low compared to other forms of transactions. Along with lower transaction fees, DigiBytes also provide faster transaction speeds which are a bonus.
There are a lot of exchanges through which you can purchase DigiBytes, and they include Cointree, Indacoin, CoinSwitch, Changelly, Huobi, Bittrex, YoBit and Livecoin. The first requirement before you know how to buy DigiByte is to set up a DigiByte Wallet, and this can be done by visiting the official wallet page of DigiByte and then running it on your computer. While setting up your DigiByte wallet, you will be required to create a password for your digital wallet, and then your wallet will be encrypted. After which you will receive your wallet address which is unique to you and will be used for transactions. For you to have DigiByte, you need to have Ethereum which will be used for exchange between the two. After you have bought Ethereum, you can use the Ethereum to purchase DigiBytes which will then be transferred to your DigiByte wallet.
Source: The Merkle - 1 month ago
Sundays are usually very interesting days for cryptocurrency trading. Not because the biggest gains usually materialize, but primarily because there can be some interesting changes few people expect. Digibyte, a currency rather often overlooked, is making some positive strides. DGB has also reclaimed its spot in the market cap top 30 over the past few […]
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