Digibyte is a cryptocurrency without the weaknesses of LTC and BTC. DGB (DigiByte) cryptocurrency review DigiByte cryptocurrency discussion

Cryptocurrency is now no longer a secret behind seven seals. Almost everyone has heard about it, and many have not just heard, but have learned to actively use it, turning its many advantages to their own good.

Bitcoin, which turned our minds upside down many years ago, is no longer alone. After him, the list of digital money is regularly replenished with new "names", however, few of them linger in the minds of users for a long time. Fortunately, in this area, as in nature in general, natural selection is triggered and mediocre projects that do not carry anything new and interesting disappear as quickly as they appear.

But this does not mean at all that apart from the cue ball there is not a single development worth attention. They are, and there are many of them. We will present one of these crypto-coins to you today. It is called Digibyte (DGB) and, as conceived by the authors, is designed to fix the weak points that Litecoin and Bitcoin "suffer" from.

In short, the idea of the Digibyte development team is to create such digital money that will provide a wide range of users with the ability to make fast (very fast) payments wherever they need it. In addition, this product must have minimal volatility in order to be integrated for services and goods.

From the point of view of many specialists, bitcoins and litecoins over time may face problems caused by today's triumphant growth in their capitalization and volatility. An increase in these two indicators leads to an increase in prices, and this, in turn, makes commodity speculation more risky. When the “X” hour comes in the existence of these currencies, then there will be a need for other approaches, which will provide young promising projects offering more favorable conditions and wider opportunities.

DGB will undoubtedly become one of these digital developments. Due to the fact that the number of tokens will be 21 billion, it is possible to achieve low volatility. And linking a crypt to one of the world's major currencies will make it a tool for transactions, not speculation.

Briefly about the main

Digibyte digital currency was developed in 2013 and launched early next, 2014. The coin is based on the BTC technology, but with a number of significant features that make the new currency more functional and attractive for users, plus the use of 5 algorithms.

The developers plan to mine 21 billion coins in 21 years (until 2035). The block reward amount is reduced by 1% every month. At the beginning of October 2017, the reward was 891 coins. Each algorithm accounts for a fifth of the blocks (20%). In April of this year, this altcoin was the first to successfully activate SegWit.

It is also impossible not to recall the fairness of the initial distribution and the focus of development on cybersecurity and practical application in real life.

Mining in a new way

Those who are familiar with the topic of cryptocurrencies are well aware that at first, Bitcoin was mined using a whole arsenal of modern expensive equipment. The situation changed when powerful ASIC miners appeared, sending traditional methods of mining crypto into the past. These devices did not make mining more difficult, but the efficiency of "digging" coins increased markedly, which made ASIC miners very popular in the community.

Based on this, the developers decided to mine DGB using ASICs as well, but to make the process available to the maximum number of people, use 5 algorithms at once - Scrypt (ASIC), Qubit (GPU), Groestl (GPU), Sha-256 (ASIC), Skein (GPU).

Each of these algorithms is used to mine about a fifth of the blocks, which raises decentralization to a qualitatively new level compared to other blockchains.

And one more side of this division. Imagine that an attacker who decides to hard fork a system needs to control more than 90% of the hash rate on one algorithm and 51% each on the other four. Agree, a troublesome task. This means that the security of our currency is much higher than that of its “brothers”.

To use Digibyte coins, of course, you need to acquire an appropriate wallet. You can download it from the official website, and it is available for various operating systems (we will tell you about the wallet for Windows).

Start by installing the wallet, that is, launch the installer. Then click "next" (Next), select the appropriate folder and click on "next" again. In the window that opens, you can customize the name of your "wallet", although you do not need to change anything, and after that you need to click on "Install". Wait for the end of the installation process and again "next", and the final touch - click on the "Finish" button.

To set up a wallet, you need to decide on the folder in which you are going to store the corresponding files, and mark your choice by clicking on the "Ok" button. After that, it will take some time to sync. You can find out the address of your "vault" by moving from the File tab to Receiving Addresses.

Plans and prospects

From what we have managed to tell you so far, you most likely have already realized how ambitious the goals of the Digibyte developers have been. They, one might say, swung at the "sacred", deciding to surpass the best representatives of cryptocurrencies in a number of parameters. Perhaps they were inspired by the example of the same Chrome or FB, who managed not to fold in front of more famous and popular competitors and, in the end, take a worthy place in their field. Who knows how everything happened there, but many experts already do not exclude that over time, such projects will take the place of Bitcoin.

By the way, the team of the crypt we are considering is not going to belittle the merits and dignity of the cue ball. They acknowledge that it was BTC that opened the way for all other digital currencies and a fundamentally new approach to storing and transmitting data. But Bitcoin has been holding a leading position for quite a long time and cannot continue like this forever, especially if we take into account the problems that have arisen recently - a relatively slow pace of work, not a very large volume of coins, mining that is becoming increasingly difficult and the level of decentralization is falling.

Benefits of Digibyte

In response to the question why this crypt should be used, I would like to cite a number of its advantages, which, we think, will seem convincing even to the most inveterate skeptics.

Let's start with the fact that it is a very fast, even impetuous cryptocurrency, the principle of operation of which surpasses the known counterparts.

This coin is intended primarily for transactions. Assuming that more coins would help strengthen the crypt, the authors decided not to limit themselves to the amount measured in tens of millions, but proposed an impressive figure of 21 billion. And all these billions of coins should be directed not to speculative transactions, but to pay for goods and services. After all, it is much more convenient to pay for both with crypto, which does not cost thousands of dollars.

Nobody can say about the Digibyte project that it was developed in a hurry. The stage of its development was quite long. Both during the work on the project and now the authors listen to the opinions of the system participants and promptly respond to comments and suggestions. Particularly active and constructive users are promised various privileges and bonuses for their caring attitude.

The launch of the currency was absolutely transparent, it became known about it 3 days before the event itself and immediately after the launch, customers were able to start mining coins. In general, everything is honest, transparent, without any speculation.

Here the choice of options is small. There are only 2 of them - either you start mining Digibyte, or you buy coins. There is still an opportunity to earn coins in the game or on some resources for certain actions, but these are insignificant earnings.

The first option requires innovative ASIC miners, the effectiveness of which we have already talked about. 1 block in the system is generated very quickly, in 60 seconds. And everything would seem to be fine if it were not for the required expenses for the purchase of equipment, but it is not cheap.

If the first method does not suit you for some reason, then go to cryptocurrency exchanges. There you can exchange your funds for DGB coins through an exchanger (this is an option for beginners), or you can take part in the auction and try to crank up the operation to your advantage (this way is more suitable for professionals).

As of the beginning of October of this year, 1 coin cost about 0.95 rubles or 0.01656 dollars, and its market capitalization exceeded 140 million dollars.

If you are interested in reviews and opinions about this currency, as we did, you will get the following result - you need to invest in DGB, you need to mine it and have it on your balance sheet, since in the future this coin will most likely bring you profit. Such cautious confidence is inspired by the fact that serious "offices" paid attention to the coin and on this wave it began to grow.

This is not to say that this is a unanimous opinion, but it takes place and is supported by a fairly large number of users.

conclusions

So, let's put together and briefly summarize everything we've learned about DGB:

First of all, it is a digital currency that made it possible for anyone to carry out fast and secure financial transactions (transfers, payments, etc.). A pleasant feature of this system, unlike many others, is very low commission fees, and sometimes their complete absence. The currency is widespread, at the moment it is available for use in eight dozen countries.
Convenience and ease of working with Digibyte is due to the fact that transactions are carried out very quickly, literally in a few seconds, and at the same time it does not require registration.
One cannot fail to mention the high degree of transaction protection through modern encryption technologies.
You can become the owner of DGB coins by mining or buying (exchanging) them on exchanges. But these are not all possibilities. This cryptocurrency is already quite widespread, so you can be paid with it for some activities on the Internet (for example, for writing a message on Twitter) or rewarded for being active in certain games.
If you want to exchange your DGB for another crypto or some fiat currency, you can easily do it.

As you can see, it makes sense to take a closer look at this development. And we end there and, as always, we wish you good luck!

DigiByte (DGB) Is a rapidly growing three-year decentralized global blockchain with a focus on cyber security, payments and secure communication.

Focus on blockchain cyber security

As the number of cyber threats continues to grow exponentially, DigiByte is focusing on the most advanced blockchain security applications.

Focus on the fintech sector

As the blockchain era continues to influence the development of various industries around the world, DigiByte is positioning itself as a leader in the fintech sector.

The DigiByte blockchain, its underlying infrastructure and applications have been continuously evolving for three years now.

Course on 06/19/2019

Well: 0.88 RUB
Symbol: DGB
Rating (CMC): 55

Algorithm

DigiByte is by far the fastest, largest and most scalable and secure decentralized blockchain with multiple algorithms in the world.

DIGIBYTE version 6.14.2 (COMPLETED)

The latest version of the basic DigiByte protocol was released in April 2017.

DIGUSIGN

Did you sign it in the blockchain? Have you signed up on the blockchain yet?

Currently, several joint projects are underway to ensure the security of documents on the DigiByte blockchain. Follow the news.

DIGI-ID

Use of the global blockchain DigiByte for identification and authentication of public key infrastructure applications.

Frequently asked Questions

Launch date: Jan 10, 2014
Blockchain type: Public, decentralized, based on UTXO, using several algorithms
Stock symbol: DGB
Genesis block hash: “USA Today: Jan 10. 2014, Target: data of nearly 110 million users stolen "
Maximum Total Supply: 21 billion DigiByte in 21 years (2035)
Current Supply Amount: 8 107 031 908 DGB (May 2017)
Annual supply inflation: 12% in 2017
Block reward reduction: 1% monthly
Current block reward: 891 DGB
Mining Algorithms: Five (Sha256, Scrypt, Groestl, Skein and Qubit)
Block time: 15 second blocks (1.5 minutes per algorithm)
Share of blocks per algorithm: 20% of blocks per algorithm (5)
Difficulty is recalculated every 1 block, 5 separate difficulties, 1 for each mining algorithm
SegWit support: Yes. The first major altcoin to successfully activate SegWit. (April 2017)
Hard forks: 4. DigiShield, MultiAlgo, MultiShield, DigiSpeed
Soft forks: 3. SegWit, CSV, NVersionBips

Mining DIGIBYTE

You can mine DigiByte using one of five separate mining algorithms. Each algorithm allows, on average, to mine about 20% of new blocks. This makes it possible to provide a much higher level of decentralization than other blockchains. For an attacker to be able to hard fork DigiByte, he would need to control 93% of the hash rate on 1 algorithm, and 51% on the other 4, which makes DigiByte much more secure against PoW attacks compared to other blockchains.

Sha256 (ASIC compatible)
Scrypt (ASIC Compatible)
Groestl (GPU Compatible)
Skein (GPU Compatible)
Qubit (CPU compatible)

DIGIBYTE Transaction Speed

DigiByte has implemented a special code that doubles the block size every two years to scale the number of transactions that the network can handle well until 2035. Additional work is underway to further increase transaction speed and network throughput.

2016: 280 transactions per second
2017: 560 transactions per second
2019: 1120 transactions per second
2021: 2,240 transactions per second
2035: 280,000+ transactions per second

DIGIBYTE versus other leading blockchains

Over the past three years, DigiByte has taken a distinct place in the blockchain world.
First major altcoin to activate SegWit (April 2017).
First used to calculate the complexity of DigiShield (2014, today it is used in many blockchains).
Mining algorithm Multishield (2015).
UTXO, proof of work, decentralized, open source.
Fair initial distribution.
Focus on practicality, safety and real-world applicability.

The DGB cryptocurrency was developed back in 2013, when the digital coin boom was just beginning. She already managed to collect into a single whole the extremely positive aspects of a number of blockchains. Thus, most experts note that DGB cryptocurrency has an optimistic forecast for 2018. In the field of security, the currency is also not inferior to its counterparts, and in many respects even surpasses them.

If we dwell in detail on the algorithms for the operation of this cryptocurrency, then several types should be noted:

Groestl;
Scrypt;
Qubit;
SHA 256;
Skein.

It is important to understand that most modern hackers can control 80 percent of the overall algorithm hash rate. If the second algorithm operates in the system, then the share of control is reduced by half. Therefore, the level of security in DGB currency is now unparalleled and is the best in the world.

With their help, the process of currency mining is carried out on various icics. It is also possible to carry out this process on video cards.

You can buy DGB on the Yobit exchange. The most profitable rate is buying with Bitcoins BTC - DGB. Check out the DGB price chart.

If you don't have bitcoins, you can get them for free here.

The purpose of the creation of the DGB cryptocurrency

The main task pursued by the developers of the DGB digital currency was to enter the financial market for electronic money of the system, where all transactions would be carried out instantly. In this regard, the volatility indicator is also important, which in this currency is several times lower than that in analogues such as Bitcoin. This goal was achieved quite simply. The cryptocurrency was tied to one of the world currencies, and the number of coins was created with the maximum supply.

In this cryptocurrency, a security system is adopted, which belongs to the Proof of Work class. This is one of the most reliable systems on the market, which completely excludes the penetration of unauthorized persons into the cryptocurrency.

In order to conduct trading operations, the developers provide for the use of a special ticker called DGB. Such approaches allow us to speak about the prospects of the currency. At the same time, numerous users have already appreciated its advantages, and now the currency is rapidly progressing, accepting new investment volumes. This contributes to the rapid growth of the value of one coin. The growth rates are such that at the moment DGB is valued at 0.065617 US dollars, which is relatively good compared to peers that began their development path in the same year.

DGB Perspective

Taking into account this circumstance, it is necessary to pay attention to the fact that the level of capitalization for this currency has now exceeded $ 628 million.

This figure has almost doubled over the past year. This has its own objective explanation. Last year, one of the largest emissions was recorded for this digital currency, which totaled 21 billion.

Gradually, the currency is undergoing some changes, which are designed to make it more open to clients. Developers are constantly looking for innovations that could bring the coin as close as possible to ordinary customers and thereby raise the level of investment. Using the budget class of users, the main task of the creators is achieved - to make currency a payment instrument.

It is the recent rise in the value of the currency by almost 100% that is the most colorful confirmation that it has the best prospects. Now there is an entry into the market of a system of large investors who invest large sums with the aim of subsequent profit. Therefore, it seems promising to invest in the purchase of coins at this stage, while their value is available to most buyers. This will allow you to invest in a promising project and get pretty good profits pretty soon.

Watch the video about DGB

You can buy DigiByte profitably on the following sites:

DigiByte is a platform that is gaining popularity very quickly. It was created for the purpose of making digital payments. The project has high cyber security. DigiByte was born in early 2014. Now this project can be called one of the largest in the vastness of the World Wide Web. At the moment, the total capitalization is 85 mln.

DigiByte Features

To date, the blocks of the project are spread over 100 thousand servers;
-The platform has a high degree of protection, thanks to 5 special algorithms;
-Algorithms are able to prevent even the most serious malicious attack;
-One block on the platform is created at an incredibly high speed of 15 seconds;
-The DigiByte platform is endowed with artificial intelligence. This allows for better automation of data analysis.

DGB cryptocurrency is in the list of the top 100 crypto coins. The prospects for this currency are very big.

DigiByte benefits

It is worth highlighting several main advantages of this platform:

The project uses smart contracts;
-DigiByte Assets allow you to purchase certain products or services;
-The platform uses as many as 5 algorithms that maximize the safety of mining coins;
-Any device that is connected to the platform becomes a node.

The developers have created a platform that allows transactions to be carried out as quickly as possible. At the same time, volatility is at a minimum.

The DigiByte team is confident that over time the volatility of many cryptocurrencies will increase significantly, so their project was created in such a way that the volatility of their coins in the future remains as low.

It is planned that by 2035 about 21 billion coins will be mined. Every month the block reward gets less than 1%. The developers are focused on improving the security of the platform. The team is focused on finding practical applications in the real world.

Plans

The DigiByte developers have every chance of surpassing many existing platforms. They are not intimidated by the most popular competitors. Over time, they are able to overtake them and take their place in this area.

It was Bitcoin that pushed the development team to create the DigiByte platform. This allowed us to create a platform that has a new approach to storing and transferring data. The DigiByte project has a high level of data protection.

Bitcoin has retained its leading position for a long time, but recently the pace of work has significantly decreased, and mining has become difficult. The DigiByte platform has every chance to take Bitcoin's place in the future.

DigiByte is a cryptocurrency that provides high speed of money transfers.The first version of the project was presented on January 10, 2014. The throughput of the system is 280 transactions per second. By this indicator, DigiByte is one of the leading altcoins using the Proof-of-Work algorithm.

Developers are actively implementing the most promising ideas that come to Bitcoin and other protocols with a noticeable delay. To ensure the reliability of the consensus, the MultiShield mechanism is used, which adjusts the difficulty of mining in real time. In 2017, DigiByte became one of the first protocols to implement the use of SegWit, a technology designed to speed up translations using the PoW algorithm.

The unit of value in the system is the DGB token. In November 2017, there were over 9.4 billion DGB coins in circulation. The upper limit of emission is capped at 21 billion - 100 times more than Bitcoin.

Official website: https://www.digibyte.co/
Telegram main chat: https://t.me/DigiByteCoin
Twitter: https://twitter.com/DigiByteCoin
FB: https://www.facebook.com/digibytecoin/

Technical features

The DigiByte developers aimed to create a fair consensus mechanism in which the power of the network could be controlled by independent miners with few resources. The protocol is based on the Proof-of-Work algorithm, while DGB is mined using 5 algorithms, the share of each of which is 20%:

Scrypt
SHA256
Qubit
Skein
Groestl

The difficulty of mining is configured separately for each algorithm, depending on the current power distribution. The difficulty parameter is changed on each block. This mechanism is called MultiShield. The block generation time in the system is 15 seconds.

Developers pay great attention to the speed of translation processing. In April 2017, DigiByte became one of the first cryptocurrencies to receive support from SegWit. The system is capable of serving up to 280 transactions per second.

On this platform, developers plan to create a full-fledged ecosystem for creating applications and digital assets. According to the official website DigiByte, the system will be split into several levels.

Applications. Developers will be able to use a ready-made set of tools to interact with the public blockchain and create private chains. The work of programs in DigiByte is based on the use of smart contracts.
Creation of digital assets and storage of data in a public registry. The system can be used to transfer and store money, encrypted messages, files, or property rights.
The core of the system is the technical level that ensures the operation of tools for users and developers.

Most of the announced opportunities so far exist only on paper. The developers plan to implement the conceived functionality within 3 years.

Team

There is very little public information about the DigiByte team. It is known that the creator of the project is Jared Tate, but information about his career is contradictory. Tate regularly gives talks and presentations at major blockchain conferences and is the face of the project.

One of the developers of the system, Jered Morgan, is a professional programmer. The rest of the team members prefer to remain anonymous. To promote the project, an institute of ambassadors has been created - representatives of the system in different countries. At the moment, DigiByte ambassadors are working in several countries in Europe and North America, as well as in New Zealand.

DigiByte cryptocurrency discussion

bitcointalk (English): https://bitcointalk.org/index.php?topic=408268
reddit: https://www.reddit.com/r/Digibyte/
MMGP: http://mmgp.ru/showthread.php?t=509506

How to create a DigiByte wallet

The developers have provided several options for interacting with the system:

download the full client to a computer running Windows, Linux or Mac OS;
installation of a mobile application for Android;
using the Coinomi mobile wallet.

The full version of the wallet for PC provides the greatest security when working with the system. You can download it on the project website in the Downloads section under the Official DigiByte Wallets heading. The screenshot shows an example download for Windows 64-bit.

During installation, the program will ask you to choose a place to store the blockchain. To change the default settings, click "Use a different data directory" and specify a new path.

Loading the blockchain the first time the program is launched, it usually takes several hours. The current progress is shown in the status bar. Clicking on the "Synchronizing Headers" line will display complete information about the download status.

First of all, developers are advised to set a password for transactions. To do this, go to the "Settings" menu and select the "Encrypt wallet" item. Important: the password cannot be recovered, so you should write it down in a safe place.

You can get and send DGB using the buttons on the top navigation bar. Since the network does not experience problems with the speed of delivery of transfers, when sending funds, you should leave the default commission size.

Where to buy DigiByte

You can buy DGB for fiat money only on the LiteBit.eu exchange. In practice, this method is not suitable for residents of the countries of the former USSR: to replenish the balance, the site uses SEPA transfers, available only in the Eurozone. Other exchangers and exchanges that work with local currencies do not offer the option to purchase DGB.

You can buy DigiByte in exchange for bitcoins. The DGB token is listed on most popular cryptocurrency exchanges:

Bittrex
Poloniex
Cryptopia
YoBit
HitBTC
Kucoin

The Bittrex platform provides an opportunity to exchange DGB not only for Bitcoin, but also for Ethereum (ETH).

Results, reviews and prospects

The popularity of the DigiByte platform among traders increased in the spring of 2017, when within 2 months the value of the coin increased several hundred times. The sharp rise in the rate was provoked not only by the bullish mood of the cryptocurrency market, but also by the release of positive news about the project. At various times, there were reports of plans to cooperate with Citibank and other large companies, but this information was subsequently not confirmed.

The main problem investors see is that many of DigiByte's functions remain unfulfilled. The project roadmap is designed for 3 years, and even if all the promises of the developers are fulfilled, the project will not receive obvious advantages over its competitors.

Traders are cautious about the prospects for the coin. Some note the revaluation of the real cost of the project in mid-2017, caused by the inflow of fresh capital and a positive news background.

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