DigiByte (DGB) is a public, decentralized blockchain that is up to 40x faster than Bitcoin. DigiBytes are digital cryptocurrency assets that can be sent over the DigiByte Blockchain. These transactions are recorded on an immutable ledger that is decentralised across thousands of devices around the world.
Digibyte is an interesting example of how not all cryptocurrencies ‘take-off’ in the way that Bitcoin and Ethereum have. Founded in 2014, Digibyte has only amassed a market capialisation 1/10th the size of that boasted by Bitcoin – yet it still desribes itself as ‘fast growing’.
This is also perhaps an unfair indictment though, given that Digibyte has actually pioneered many of the advancements seen in other blockchains. For example Digibyte pioneered asymmetrical difficulty adjustment mining which is used in many other blockchains. Digibyte was also quick to implement Segregated Witness which laid the foundation for the Lightning Network – something other blockchains are still catching up with and something which is sure to become a fundamental ingredient of blockchains in the future.
There’s no doubt that Digibyte is innovating in the field of cryptocurrency and blockchain technology. But perhaps this innovation is coming at the expense of demonstrating value to end users – be those mass market individuals, investors, or developers.
DigiByte Vs Bitcoin
The open source nature of DigiByte has attracted the global community of developers to build projects on the DigiByte blockchain.
- Mine That Digi is a gaming platform that rewards players of Minecraft with DigiBytes.
- DigiPSN is a Playstation store that exclusively accepts DigiByte for payment.
- In 2016, Microsoft nominated DigiByte Holdings to the Microsoft BizSpark Plus program and added DigiByte to Azure.
- In 2017, DigiByte was selected from over 1,000 applicants to participate in Citi Tech for Integrity, a global startup accelerator. As a finalist, DigiByte presented DiguSign to Facebook, IBM, PWC, Microsoft, and Mastercard, among others.