When DigiByte was created and what its main differences are?
The DigiByte cryptocurrency was created in early 2014. DigiByte uses a Proof of Work algorithm and this cryptocurrency can be mined on ASIC, FPGA, and GPU. In contrast to Bitcoin, whose emission is limited to 21 million, there can be a maximum of 21 billion DigiByte (DGB), which is 1000 times more. The block of transactions is calculated much faster than Bitcoin, once in 15 seconds, not once in 10 minutes. The number of active DigiByte nodes is much larger than that of Bitcoin. In total, DigiByte has more than 100 000 crypto nodes. Unlike Bitcoin, which uses only one Proof of Work algorithm (this algorithm is SHA-256), DigiByte uses a combination of five Proof of Work algorithms. These are Sha256, Scrypt, Skein, Qubit, and Odocrypt algorithms.
What are the three levels of DigiByte?
To improve scalability and controllability, the DigiByte software code is divided into three levels. The first level is the "top layer" where the decentralized applications based on DigiByte blockchain are located. On the second level, the "middle layer", there is the decentralized data storage. The technologies Public Ledger and Digital Assets are used. The third level is the "lowermost layer", where the DigiByte nodes are located. Thanks to Core Communications technology, DigiByte nodes are combined into a single structure called Global Network. The reward for miners DigiByte is smoothly reduced by 1% every month.
How DigiByte Nodes Work?
The blockchain nodes provider for cryptocurrency DigiByte after installing the program wallet becomes any device, be it a server, PC, or cell phone. This DGB node is called a light or relay public node. Its task is to transfer to other free nodes until it reaches the full nodes provider. For owners of full DGB nodes, there is no compensation in DGB for checking transactions. However, installing full DigiByte node software is a necessary condition for mining the DigiByte coins. Running a full node DigiByte requires a computer with at least 4GB of RAM, around 10-15GB free drive space, and a decent internet connection, ideally 24/7. The software for the complete DGB node is available in operating system versions. Windows, Linux, and Mac OSX also. You can download the software to run the full DGB node from the official DigiByte website.
What payment units does DigiByte use?
Both software and hardware wallets are used for DigiByte storage. There are both native DGB and third-party wallets. Each DGB coin is divided into 100 million tiny parts, which are called digiSatoshi (similar to Satoshi, which is divided into cryptocurrency Bitcoin). Due to the insignificant cost of one DGB, commission payments in this cryptocurrency are made almost invisible.
Development prospects of DigiByte
DigiShield and MultiShield technologies are used to protect the DigiByte network from attack 51%. These tools correct the complexity of the network after each new block. The DigiByte software nodes support the SegWit technology which speeds up the network to 1066 transactions per second and allows you to do with only one confirmation. Software updates for DGB nodes are constantly being released. DigiByte software is widely advertised in Telegram, also in online games such as World of Warcraft. A unique feature of DigiByte is Digi-ID which allows network nodes to identify the user without entering a username or password, as well as without the need to store his private information in the blockchain.
