Digibyte DGB- A Fast and More Secure Open-Source Blockchain
- Digibyte is a fully decentralized blockchain.
- It is open source which means users have the power to modify it.
What is Digibyte DGB
Digibyte is a blockchain that is open source. It was developed by Jared Tate. He is also known as “DigiMan.” The development of the blockchain was started on October 2013, and finally, on January 10, 2014, its genesis block was successfully mined. Since its launch, the blockchain has gone through many improvements; MultiShiled was activated to improve cryptocurrency protection, and Digi-ID was launched for effortless sign-in and sign-out to the website.
Key features of the blockchain
Digibite promises to be truly decentralized. Hence, The blockchain has no CEO who might be controlling the blockchain.
This blockchain uses five cryptographic algorithms to prevent any malicious mining centralization. It also uses Odocrypt, specially designed to change itself every ten days for ASIC resistance.
Digibyte claims a surprising speed of 1066 on-chain transactions per second, with negligible fees. The blocks of Digibite occur 40x faster than Bitcoin.
This blockchain can be mined with five algorithms which are Qubit, Odocrypt, Scrypt, Skein, and Sha256. It is a 100% Proof of Work blockchain and can be mined from any type of hardware, such as GPU, ASIC, and FPGA.
All you need to do to use Digibyte is Install a DigiByte-supported wallet.
- Click Scan.
- Scan the QR code.
- Send Digibyte DGB.
The working of the Digibyte DGB Blockchain
The Digibyte protocol works on three different layers:
The top layer consists of the application of the DigiByte (DGB) blockchain. One can also encode smart contracts that leverage the security of the blockchain. Decentralized applications can also be built on blockchains.
The middle layer works on security and administration. Digibyte claims that any data byte on the Digibyte (DGB) blockchain cannot be hacked or duplicated. For more advanced security, digibyte uses five proof-of-work algorithms.
The Bottom Layer
This layer is responsible for the communication and operation of the digibyte (DGB)cryptocurrency. All the computers on the digibyte network become the node of the network, which helps to relay the transactions.
The DigiByte network is open source which means that not you can use it freely, but you also have the power to modify the software.
How to Buy DigiByte
DGB is available on multiple exchanges. It’s very easy to buy Digibyte. You can just follow the following three steps to buy DigiByte.
1. Choose a Crypto Exchange
There are many crypto exchanges available in the market, which you can choose from to buy Digibyte. The top crypto exchanges on which Digibyte is currently available are:
- Huobi Global
2. Create an Account
After choosing any crypto exchange, you need to make an account on that crypto exchange and make your cryptocurrency wallet.
3. Make a Deposit
Once the exchange verifies your account, you have to deposit some funds in the wallet; you can use any payment method that best suits you.
4. Buy DigiByte (DGB)
Now just buy the digibyte cryptocurrency by entering the amount and clicking on buy. It is as simple as that.
Contracts now you are a member of the digibyte community.