Trade DGB - DGB Markets, Exchanges, Broker
DigiByte (DGB) is one of the older crypto currencies on the market. Nevertheless, the company has remained relatively unknown for a long time, despite strong performance and much technological innovation. That seems to be changing now. One of the best-known multi-wallet providers Abra now also carries DGB and enables trade.
The company and its objectives
Jared Tate, a well-known programmer and entrepreneur, was dissatisfied with Bitcoin's security and speed. He decided to create something better. Tate and his team started developing Digibyte in 2013. The first block was finally released on January 10, 2014. The company waived a token sale before the release.
Tate has since dedicated itself full-time to the DigiByte project. He is also the only member of the team mentioned on the company's website. Through research on LinkedIn, a total of 8 people were identified claiming to be employed by DigiByte. DigiByte, as a pure open source project, has no classic or fixed team structure. It is to be expected that in the background a multiplicity at developers and idea givers participate.
As the company explains on its own website, the focus is primarily on cyber security. The concept of DigiByte is designed to outperform Bitcoin in all respects. It should work faster, more surely and more slimly than Bitcoin.
DigiByte also tries to penetrate other markets to expand its scope. Thus, the company also deals with the use of Artificial Intelligence and the security of IoT devices. The gaming sector was also an option. At the end of November 2015, DigiByte Gaming was launched as the first platform of its kind. However, on Twitter in May 2017 the discontinuation of the project was announced. Whether there will be a restart is not known.
What is Digibyte (DGB)?
DigiByte is a digital asset based on its own distributed public blockchain and hosts a network that is expected to be faster, more scalable and more secure than others. DigiBytes cannot be hacked, destroyed or falsified. These features make them perfect for protecting valuables such as currency, information, property or important digital data.
The DigiByte blockchain is distributed over more than 200,000 nodes around the world. DGB is a mineable coin with a maximum supply of 21 billion coins. This is 1000 times Bitcoin's supply limit. The number of coins was chosen so high that DigiByte can keep up with the competition in the money transfer industry such as PayPal or Western Union. The coins are to be completely dismantled by 2035. Currently there are about 10 billion DGB in circulation.
DigiByte uses 5 algorithms, each requiring 1.5 minutes for a transaction confirmation. The block time thus corresponds to 15 seconds and is around 40 times faster than Bitcoin. Currently, the system can process 560 transactions per second (TPS). In comparison, PayPal manages 130 TPS and Bitcoin 4 - 7 TPS. By 2020, DigiByte wants to catch up with the leader Visa with 2,000 TPS. In the long term, the company plans to achieve up to 280,000 TPS by 2035.
Digibyte misunderstood pioneer?
Many of today's popular tools and technologies of well-known crypto currencies were either developed by Digibyte or they were one of the first to use it. These include, among other things:
Despite this performance, the company has not been able to achieve long-term success for a long time. Only a tweet by John McAfee at the end of 2017 brought the necessary attention to the project. Shortly thereafter, the DGB course increased by 120% within 12 hours and media coverage increased. Note: However, John McAfee's statements should be treated with caution.