Coin Spotlight: DigiByte

Designed to secure the next generation of digital applications.

What is DigiByte?

DigiByte is a rapidly growing decentralized, global blockchain focused on building state-of-the-art, sophisticated applications to protect objects of value such as currency, information, property, or important digital data. Its three-layer blockchain network separates smart contracts, processing, and decentralized applications and their technology also features cross-chain compatibility making it a serious competitor in the blockchain race.

DigiByte is one of the older cryptocurrency projects, launched in 2014, and lays claim to having one of the fastest, 15 second block times, networks currently available. Faster block times mean transactions get processed and confirmed much quicker, however, a major drawback is that it usually comes with scalability issues as each node on the network must maintain the entire history of the blockchain in order to confirm new transactions. DigiByte is the longest UTXO blockchain in the world with over 8,000,000 blocks and over 200,000 nodes. The project is supercharging their processing capacity via block size doubling every two years thus rapidly scaling the number of transactions per second.

To counter the drawback of scalability and transaction malleability, DigiByte was the first cryptocurrency to implement segregated witness (SegWit) where transaction confirmations are separated from the transaction information in the block. This makes the transactions more compact and allows for innovations such as cross-chain transactions and single confirmation transactions.

The Three Layer Blockchain

Applications Layer — Think of this as an App Store with clear use cases. This is DigiByte’s user-facing layer that enables transfers and access to the API. Users can also build and host both decentralized and centralized applications as well as smart contracts on the blockchain.

Digital Asset/Public Ledger Layer — This is where the network’s immutable ledger stores all the data and transactions. It also has security measures to protect against data manipulation and incentivizes and manages miners securing the platform.

Core Communications Protocol/Global Network Layer — This is the foundation for all the other layers. It provides communication and operating procedures. This layer links all the nodes on the network together and supports basic data transfer between the nodes.

Digi-ID

Digi-ID — open-source, community-driven Open AUTH project on the DigiByte Blockchain

Based on the DigiByte Blockchain, Digi-ID is a simple and straightforward authentication and security system. Users will be able to quickly and effortlessly log into or sign up to websites and applications by tapping or scanning a QR code that is automatically generated. The Digi-ID technology is built on sophisticated mathematics and cryptography such that it even addresses privacy concerns. Users, even with multiple devices, will only need their Digi-ID to log in and the application will easily verify your information.

There will no longer be a need to remember usernames, passwords, birthdays, or secret questions for every login process and Digi-ID also does not store your personal information. This protocol is at the forefront of enabling additional security and ease of use with Blockchain applications. It’s a game changer not just for the Blockchain and cryptocurrency community but for global internet usage as well.

Below is a list of additional projects initiated by the DigiByte Foundation:

DigiHash — The mining pool of the DigiByte Foundation.

DigiBot — A Telegram bot for users to interact with DigiByte.

DigiByte Playground — Interactive JavaScript sandbox to learn to build on top of DigiByte.

DigiByte Emma A.I. — DigiByte’s very own AI assistant. Ask her anything about DigiByte.

The DigiByte Team is one of the most active in the space with the following projects currently also in development:

DigiByte DigiMan — Browser to utilize many aspects of the security of DigiByte.

DigiByte DigiSeeder — Seeding service to ensure all wallets rapidly find other peers.

DigiByte DigiMessenger — A secure messaging app built on DigiByte that is being prototyped. DigiByte Easy Miner — An easy miner for beginners to begin mining DigiByte.

Coinplan is very excited to feature DigiByte because they are a rapidly growing blockchain focusing on cybersecurity for digital payments and decentralized applications. They’re also developing a key project called DigiAssets that gives users the ability to quickly and easily generate, send, and receive assets on the DigiByte Blockchain from their mobile device. This makes it significantly easier for people to start putting things onto Blockchain aside from just sending and receiving cryptocurrencies. People will be able to utilize more features of the blockchain such as security and immutability.

You can view DGB inside Coinplan’s Platform Portfolio and the Alliance Portfolio.

You can also follow the DigiByte Awareness Team (DGBAT), a 15- member, community-driven outreach initiative aiming to promote the DigiByte blockchain through education, outreach, and marketing.

To learn more about DigiByte, please take a look at these helpful links:

DigiByte Website

DigiByte Telegram

Twitter

DGBWiki

DigiByte Awareness Team