As the popularity of cryptocurrencies keeps on growing, there seems to be a rising need to develop systems that are secure, and free from any third party interference. This is where DigiByte comes in. In its core essence, Digibyte DGB can be thought of as a “growing global blockchain” that has been designed primarily to focus on the issue of cybersecurity within the domain of
- Digital payments
- Decentralized applications.
Since its launch into the market around four years ago, DigiByte DGB has gradually grown in size, and is now considered to be one of the larger decentralized UTXO blockchain platforms available in the market today.
Why Should I Consider Digibyte DGB?
As mentioned in the opening paragraph, DigiByte Blockchain technology is designed to heighten/ maximise the security of various applications based on the crypto network. According to an independent study, it was shown that Digibyte has the capacity to eliminate at least “90% of all common afflictions that are common across the blockchain today”.
(ii) Focus on IOT Devices:
As per the company’s official vision statement, they primarily are looking to focus on using their platform to help maximize the security of IOT devices, as well as other technologies that make use of “robust communication systems”.
(iii) AI Integration:
Another area of innovation that Digibyte is currently considering is that of Artificial Intelligence, and how it can be used for effective security control as well as data analysis.
What Is the Difference Here?
The DigiByte Blockchain has been designed primarily for the development of secure, decentralised applications that are able to help pioneer advancements in the realm of banking, social media etc. Some of the the core aspects of Digibyte which make it stand out include:
(i) Market Tested System:
The DigiByte blockchain as mentioned earlier, has been around for more than 4 years now. Over the course of this time, the system has been thoroughly tested and shown to be effective in providing high level security.
Another key aspect of this platform is the speed at which it processes all of its transactions. The “confirmation times” delivered by this blockchain are comparable to any other service in this sector.
(iii) Does not use an ICO based Structure:
While we may all have seen hundreds of ICO’s cropping up each and every day in recent months, Digibyte does not use ICO sourced funding to fuel its operations. There are no public companies or any wealthy individuals who have a hand in this project.
(iv) Multi Algorithm Mining:
This is another feature that really makes DigiByte shine. According to our research, DigiByte was “one of the first, and currently the only active blockchain to hard fork from a single mining algorithm to 5 mining algorithms”.
Other Key Aspects Regarding DigiByte DGB
(i) Long Blockchain:
According to official company data, the DigiByte Blockchain currently stands at about 5 million blocks. This is quite remarkable, as it means that the company must have faced quite a considerable number of scalability issues, which it would have then needed to overcome.
(ii) Growing Online Community:
DigiByte currently has one of the ‘largest decentralized communities’ on the blockchain today.
(iii) Tested on Decentralized Exchanges:
At this point, it should be mentioned that this system has been used on different online exchanges, and has worked effectively in securing volatile, private, confidential data as well as user information.
(iv) Hacking Protection:
As many people in the crypto world might know, one of the biggest threats to the Bitcoin network is that of a ‘51% attack’. DigiByte is designed to counter this issue through the use of certain security mechanisms and protection protocols.
(v) Makes Use of Manageable Units:
The availability of blocks on this network are much higher when compared to other blockchains. To be more specific, we can see that DigiByte proposes to create a “total of 21 billion DigiByte which will be created over a time span of 21 years (each DigiByte will be divisible to 8 decimal places)”.
How Do I Get On Board?
To buy any of the applications that are being promoted by the company, all users have to do is go to the official company website, and then make their choice. The specific details of the various wallets that are available for purchase can be checked out by simply clicking on the desired product. For any further details or clarifications, users should get in touch with company representatives by clicking on the “How can we help?” tab.