DigiByte (DGB) is a decentralized project that aims to reduce volatility and relies on calm assets with good technical prospects. The DGB cryptocurrency entered the market in 2014 and has remained the most scalable ever since. Today we will review the technical capabilities and advantages of the DigiByte project.
The DigiByte blockchain is focused on enhanced security for digital payments and decentralized applications. Also, the developers paid attention to the speed and security of transactions. The DGB digital asset cannot be hacked, tampered with, or destroyed.
The DigiByte platform is open source, that is, it operates on its own blockchain. To secure the platform from cyber attacks, the authors applied blockchain technology to develop secure applications.
Compared to many blockchain projects, DigiByte stands out for its high speed, scalability, and reliability. In the future, the platform intends to overtake the Internet payment operator PayPal in speed, which processes up to a million transactions per day.
Initially, the project was positioned as a cryptocurrency to support games. But due to a lot of controversies, this feature has been closed. DigiByte is one of the few blockchain platforms today that uses 5 proof-of-work algorithms.
What problems does the project solve?
Like many other cryptocurrencies, DigiByte is designed to solve the basic problems of Bitcoin. First of all, it is an increase in cybersecurity, since hacking has become the main scourge of the digital world.
The platform strives for unprecedented decentralization. Most cryptocurrencies are controlled by companies or individuals who own a large amount of power or coins in an account. This factor completely contradicts the blockchain ideology.
Another problem many blockchains face is transaction speed. The Bitcoin network, for example, processes 4 to 8 transactions per second. For comparison: the speed of transactions in the Visa network is 40 thousand per second.
To solve these problems, the authors of DigiByte suggested the following:
- Use of the digishield and multi shield protocols to protect the blockchain from malicious attacks;
- Introduction of 5 mining algorithms that solve the problem of network insecurity;
- Confirmation of transactions is carried out by thousands of users, which means that the DigiByte blockchain cannot be changed or hacked;
- DigiByte speed is 40 times faster than the Bitcoin network.
Where and how to get DigiByte?
The coin is traded on almost all well-known exchanges, in particular:
If you want to know how to convert dgb to etn or to buy coins, you need to register on any of the indicated resources, top up the exchange balance and in the Exchange or “Trades” section, open a buy order indicating the number of purchased coins. On most exchanges, DGB tokens are traded in pairs with ETH, BTC, and USDT. If you want to buy coins for fiat money (dollars, rubles, euros), you will first have to buy coins that are paired with DGB. After buying coins, they can be withdrawn to an external wallet
Despite the low cost and volatility, analysts assess the future potential of the platform positively. Ease of use and speed are the main advantages that network adherents highlight. Given the stability of the exchange rate, the DGB cryptocurrency is becoming an attractive means of payment for general consumption.
Experts also draw attention to the slow pace of development of the project. In their opinion, this is an advantage, since each stage is well thought out and implemented. The developers pay maximum attention to optimizing the system, the problems that arise are quickly eliminated.
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