The Digibyte ecosystem is built around two pillars of security and speed, which are both considered by digibyte fans as limitations of similar blockchains that are either not secure or not able to scale to meet the current and future demands of its users. digibyte was launched in 2014 by the creator and founder Jared, who after working on the Bitcoin code in 2012, started working on DGB in 2013. To explore new ideas and concepts to make blockchain technology better.
Digibyte uses a similar system as Bitcoin to keep track of transactions. This system is called a UTEXO system, which stands for unspent transaction outputs and is different from account based blockchains such as Aetherium, Tron cosmos and Neo to name a few.
Digibyte is a proof of work blockchain which means it uses miners to validate transactions on the network. Did you buy it is said to have the fastest block time of any of the UTX o coins with a new block mined now get this every 15 seconds. To keep this block time stable. Digibyte has a real time difficulty adjustment. This real time difficulty adjustment is called Digi shield and has been added to more than two dozen other blockchains including Aetherium Zcash and Dogecoin. While SegWit was being debated for years in the Bitcoin community and eventually led to a contentious hard fork of the BTC network. digibyte dove headfirst into the new protocol, and it was the very first alt coin to incorporate segway into its code in 2017. Earlier in its evolution, GGP took the bold step of using not just one, not two, but five separate mining algorithms. The outcome of this move was to create one of if not the most decentralized blockchains in existence. This is important because the more nodes and operation the more secure a blockchain becomes*
A digibyte can scale up to 1066 transactions per second. This is 40 times faster than Bitcoin and 10 times faster than light coin. SegWit, which is a second layer protocol enables this blazing fast transaction speed by making things that would slowing non SegWit chain down possible.
Another characteristic which adds to the speed of the network is the rigidity of the max transaction size and variable block size. This means a block doesn't have to be full and can be mined at the 15 second block time. Do you think digibyte blockchain can scale as they say it will or will it slow down once mass adoption is reached? Leave a comment below with your thoughts. To keep the network fast. digibyte uses multiple layers for specific functions. These are split into three layers like a DGB sandwich. The bottom layer of the network is where the nodes and the client software operate and communicate with each other. The middle layer is the public blockchain or ledger. This is the layer where the native digit by token lives moving from one address to another. Without this token, the top layer where the newest Digi byte innovations live wouldn't be possible
Now these are things such as smart contracts daps, and programmable custom tokens. Some other networks have similar functions, but none approach solving the problem of scalability, speed and security, quite like Digibyte. This top layer is called Digi assets. And the very first two were created by Jared Tate himself, Digi torch and Digi flame. If it reminds you of the Olympic torch and the eternal flame, then the names did what they were supposed to do because these Digi assets are to be passed from one developer to the next as they create more Digi assets for the network. In May 2018 Digibyte up the ante on digital security with Digi ID, which is a security platform eliminating the need of using username password multi factor authentication for accessing your accounts. This relies on a public private key cryptography to help reduce the risk associated with using passwords and having them stolen. So now you have a brain full of information about digibyte. So how do you get it?
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