Overview

23/10/18 03:39 UTC-4

Uniqueness and features of DigiByte

Main features of DigiByte
Main features of DigiByte

The decentralized DigiByte shell was founded in the distant 2014 and since then it has been moving slowly to the heights of the cryptocurrency world. From the very beginning of its work, the DigiByte network focused on three main tasks of cryptography – the speed of transactions, security and decentralization.

 

Work principles

Despite all expectations, DigiByte continues to remain in the shadow of more famous blockchain networks. Most likely, this is due to the insufficient level of technical literacy of its creators and unclear plans for the future.

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Incredibly, but true – DigiByte is a scalable network with high transaction speed, in which security is even higher than that of Bitcoin and Litecoin. Despite this, the website of this project does not contain any information about the development team and employees serving the network infrastructure. It turns out that without a team of like-minded people dealing with marketing and development issues, DigiByte platform will not be able to rise to the level of leaders of the cryptocurrency market.

 

Capitalization

Like many crypto assets, DigiByte has been rapidly gaining over the past six months and has also rapidly lost its value. After some correction of the market, its value dropped to 0.02 dollars per coin. Each new DGB coin has its own identifier, built on the basis of UTXO, so transactions pass through a chain of blocks. The work of the network has a confirmation algorithm (proof of operations), which produces each subsequent block in 15-18 seconds. As of March 2018, 8 billion coins are in circulation, and the final result will be the release of 21 billion tokens for 21 years. The DGB can be bypassed using ASIC video cards and conventional GPU processors.

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All nodes on the platform are integrated into an infrastructure that organizes the transfer of data and stores the history of operations. Due to the rapid processing of information on the network, transactions are realized in 15 seconds, which is 40 times faster than in the Bitcoin network. On the DigiByte shell, it is possible to separate the block information from the transaction confirmation process – this provides additional mechanisms for network development and system performance.

Many experts are sure that DigiByte is a safer cryptocurrency than other representatives of altcoins. The fact is that, thanks to the uniform distribution of tokens among users, the network remains as decentralized as possible. The extraction of crypto-active is distributed among five algorithms, which does not allow large and powerful data centers to concentrate in their hands all the extraction of DGB.

 


An interesting option for future work in the DigiByte network will be the appearance of smart contracts on the chain of blocks. Open source code and the JavaScript programming language will allow you to implement new features and expand the audience of developers who want to join the network.

Editor: Yuliya Soroka

#DigiByte #DGB #cryptocurrency

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