What is DigiByte?
DigiByte (DGB) is a rapidly growing three year old decentralized global blockchain, live in over 96 countries all over the world, with a focus on cyber security, payments & secure communications.
Like other cryptocurrencies like Bitcoin (BTC) or MintChip, DigiByte is also a variation of a virtual currency which can be used as a medium of exchange, through a regulated process guided by certain principles of cryptography, outside the jurisdiction of government rules and regulations.
Why Should You Care about DigiByte?
DigiByte has witnessed a monumental growth in recent times and have taken the world of Cryptocurrencies by a storm. Even though it has been under the radar since it’s inception over 3-4 years ago, the recent boom is making DigiByte one of the most recognised, used, profitable and trusted cryptocurrency out there.
- DigiByte has observed a phenomenal 200% growth in its exchange value over the period of May 2017. This upward trend is being forecasted as a regular occurrence in the coming time.
- DigiByte has been announced as being a finalist chosen to appear at a Citibank conference in Singapore on June 8-9th. The potential profit this alternative currency can make if backed by a global conglomerate like Citigroup is huge.
- Integration of DigiByte into several MMORPGs (massively multiplayer online role playing games) and inclusion into gaming developer houses such as Nintendo means that DigiByte could soon be used by players to actually earn real digital currency as they play in real time.
- The development, maintenance, improvement and constant inclusion (as of now, it is 40x faster than Bitcoin) of the DGB platform has made sure that DigiByte has the potential to become the single biggest scalable cryptocurrency enabling real-time global payments anywhere in the world.
DigiByte: Properties of a Blockchain & How to mine it
DGB Blockchains are a network of distributed database similar to a public ledger that maintains a continuously growing list of records often termed as ‘blocks’ through hashing.
DGB Blockchains are designed to maintain records of all DigiByte transactions. Each blockchain can then be further used to connect to the overall DGB cryptocurrency network and can be utilised to perform the task of validating and relaying transactions over a trusted public network in a ledger like manner.
DigiByte, like other cryptocurrencies can be “mined” by compiling recent transactions into blocks and solve a computationally challenging puzzle. Mining could be imagined as a large lottery that allows you to compete with your mining hardware with everyone else on the network to earn more currencies.
Salient Features of DigiByte
Let’s take a look at what makes DigiByte stand apart from other cryptocurrencies
- Security: Years of bolstering the backend infrastructure makes DigiByte a safe and secure transactional currency.
- Transparency: When you are opting for DigiByte, you are not alone. Many industries and applications, including the gaming houses have put their faith in this global ledger.
- Efficiency: The DigiByte blockchain offers superior speed, scalability and security to enhance efficiency as compared to other alternative currencies, making it one of the best options.
Future Potential of DigiByte Blockchain
- Core Protocol: Usage of Multiple-Algorithm mining combined with advanced scalability and processing speed makes DigiByte poised to be a cryptocurrency frontrunner.
- FinTech: The best and latest development in the financial technology is being integrated into the DGB platform on a day to day basis, keeping your investment safe and secure.
- Internet of Things: With the advent of Internet of Things, where day to day physical objects are connected over the internet to become an intelligent network capable of sending and receiving data, DigiByte can become the desired mode of currency over large-scale IoT networks.
- Document Validation: Using DGB network and technology, Securing & validating blockchain notarized documents is now possible.
- Trade Finance: DigiByte is constantly upping its game to be the face of trust, transparency and security when it comes to global trade.
Thanks for reading!
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