DigiByte

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DigiByte is an open-source cryptocurrency running on the DigiByte blockchain.


History

Digibyte was first developed in 2013 and released January 2014.[11] It was initially created by Jared Tate who was dissatisfied with the security and speed of Bitcoin.[12]


In 2016, Digibyte was added to Microsoft's cloud computing platform Azure. Microsoft also nominated Digibyte for BizSpark, which is their program to assists blockchain projects with software support and services.[12]


In 2017, John McAfee tweeted about Digibyte which resulted in a 120% rise in price in 12 hours.[13]


Features

DigiByte is based in Bitcoin but with several adjustments to its code including functionality differences and 15-second block times making it the fastest UTXO blockchain today.[11] DigiByte uses five secure and advanced cryptographic mining algorithms to prevent mining centralization compared to single algorithm blockchains. [8]


Within the first month of DigiByte's release, the DigiShield hard fork was initiated, which allowed for the DigiByte blockchain to protect against multi-pools that mine large numbers of DigiByte at a low difficulty. This technology was adopted by other cryptocurrencies such as Dogecoin and Zcash with the help of the DigiByte team.[12]

DigiBytes are digital assets that are designed not to be destroyed, counterfeited or hacked, making them ideal for protecting objects of value like currency, information, property or important digital data. [1]


The company also seeks to promote a community of decentralized apps.[8]

See Also

List of cryptocurrencies

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