DigiByte

• DGB was founded in 2013 with its focus on decentralized applications (dApps) and smart contracts

• Token: DGB, used as a medium of exchange

• Consensus: Proof-of-work supporting multiple mining protocols

• Pre-mined DGB: 105 million for development

• Annual Issuance Rate: 5.57%, decreases annually (deflationary)

As of today 21 November 2024, the price of DigiByte is ₹0.95 INR, with a 24-hour trading volume of 141339731.58 USD. The market capitalization for DigiByte is 191598292.63USD. The circulating supply is 17376416842.9 DigiByte, with the total supply also being 17376416842.9 DigiByte.

:

• High security with five mining algorithms

• Fast transactions (15-second block times)

• Supports multiple mining protocols

• Highly decentralized network

• Low transaction fees

• Supports intelligent contracts and DApps

• Open-source and volunteer-driven

:

• Limited adoption and recognition

• Lack of awareness

• No significant use case advantage over competitors

• Lack of marketing

• Reliance on volunteer-based development

• Strong focus on security, scalability

• Fast transaction speeds, low fees

• Established presence in the cryptocurrency space

• Multi-algorithm mining for enhanced security and decentralization

• Faster transaction speeds, highly scalable blockchain

DigiByte aims to solve the issues of security, transaction speed, and scalability in blockchain technology. It is focused on providing a secure and efficient platform for digital payments and decentralized applications.

• Founder

• : Jared Tate, involved with Bitcoin since 2012

• Team

• : Supported by a community of volunteers, no central authority

• No ICO or Traditional Funding Rounds

• Seed Funding

• : $250,000 raised on December 2, 2014, from a private investor

• Pre-mined Coins

• : 105 million DGB for development

• Market Manipulation Risk: DigiByte's price can be influenced by the amount of money it takes to shift its price, a common risk for many cryptocurrencies. InvestorsObserver gives DigiByte a medium Risk/Reward Score, indicating a moderate level of risk.

• Lack of Widespread Adoption: Despite its technological strengths, DigiByte has not achieved widespread adoption, which can be risky for investors looking for growth and liquidity.

• Low Awareness and Visibility: DigiByte lacks awareness and visibility in the market, which can limit its growth potential and may affect investor confidence.

• Volatility and Price Stability: While DigiByte aims to maintain a stable average price, the cryptocurrency market is inherently volatile, and rapid price changes can pose a risk to investors.

• No Staking Rewards: As a proof-of-work coin, DigiByte cannot be staked, which means there are no staking rewards that can provide a return on investment, potentially making it less attractive to some investors

Whitepaper Insights

DigiByte (DGB) stands out in the blockchain landscape with its core principles centred around decentralization, security, and innovation. Unlike many projects, DigiByte did not opt for an ICO or presale, highlighting its commitment to a decentralized ethos. Launched in 2014 by Jared Tate, DigiByte has since been continuously developed, positioning itself as one of the more established players in the blockchain space. With a maximum token supply of 21 billion, DigiByte employs the UTXO model for cryptocurrencies, enhancing scalability and enabling the simultaneous processing of multiple transactions. Furthermore, DigiByte's innovative features, such as SegWit activation, DigiShield, and Odocrypt implementation, showcase its dedication to technological advancement within the blockchain ecosystem.

One of DigiByte's critical strategies for ensuring security and preventing centralization is its utilization of multi-algorithm mining. By employing multiple proof-of-work (PoW) algorithms, DigiByte enhances mining accessibility and mitigates the risk of 51% attacks. The three-layer blockchain architecture of DigiByte, catering to intelligent contracts, processing, and decentralized applications (dApps), not only supports cross-chain compatibility but also underscores its commitment to providing a robust and versatile platform for various blockchain-based functionalities. DigiByte's whitepaper insights emphasize its mission to create a secure, fast, and scalable blockchain infrastructure while championing decentralization, technological innovation, and long-term sustainability in the ever-evolving digital landscape.