Home Crypto News What is Digibyte (DGB)?

What is Digibyte (DGB)?

What is Digibyte

Digibyte is cryptocurrency with one of the oldest, fastest and most decentralized blockchain in the world. Digibyte is a blockchain project that attaches great importance to security. With Digibyte it is possible to make digital payments extremely secure. According to DGB, it is 5x more secure than, for example, Bitcoin . “It uses the same technology used in nuclear bombs.”

Thanks to Digibyte’s blockchain, you can send and receive payments all over the world in seconds. The abbreviation of Digibyte is ‘DGB’. This cryptocurrency can be mined and a total of  21,000,000,000 DGB, (21 billion) Digibyte tokens can be mined.

Tip: The video below briefly explains what Digibyte is.

What can I use Digibyte (DGB) for?

As you have already read above, you can use Digibyte to make (international) payments. Digibyte is completely open-source, so anyone can use the Digibyte blockchain.

How does Digibyte differ from other cryptos?

Digibyte has some key differences from other cryptocurrencies . To get a clear picture, we compare Digibyte with Bitcoin.

The big difference in scalability is especially noticeable. Digibyte can process 560 transactions per second while Bitcoin can only process 7 transactions per second. In addition, it is striking that Digibyte has 5 mining algorithms and Bitcoin only 1. By using 5 algorithms, the network is safer according to the Digibyte team.

The Digibyte rate

The Digibyte price is very volatile, just like many altcoins. For example, it is possible that the DGB price rises or falls by 40 percent within 1 day. The Digibyte rate depends on a number of important factors, namely:

  • New updates within the Digibyte network.
  • A new collaboration of DGB with another company.
  • Media attention.
  • News about the general adoption of cryptocurrency and blockchain.

The graph below shows the Digibyte rate (note, the rate is shown in dollars). This chart shows that the Digibyte coin was issued at the beginning of 2014. At the time of launch, the value of 1 DGB token was around $0.00068. Until April 2017, the price has remained relatively stable with a price between $0.00068 and $0.00030.

In April 2017, the DGB price started to rise sharply to a price of $0.06 dollars. After that, the price dropped again. But in January 2018, Digibyte started a huge price increase. On January 3, DGB reached its absolute peak. At that time, 1 DGB token was worth around $0.13 dollars. After this high, the DGB price has fallen sharply.

Where can you buy Digibyte (DGB)?

There are several places and exchanges where you can buy Digibyte. Unfortunately, it is not (yet) possible to buy DGB at Coinbase or Binance. Do you want to know at which crypto exchanges you can buy Digibyte tokens? Below we have listed the most important and reliable crypto exchanges that sell DGB for you.

  • Battle
  • Binance
  • Litebit
  • Bittrex
  • Hitbtc

Who is the founder of Digibyte?

The founder of the cryptocurrency Digibyte (DGB) is Jared Tate. Jared Tate has been involved with Bitcoin since 2012. Jared quickly saw the potential of digital currencies and decided in 2013 to improve the Bitcoin protocol on a number of points. This led to the launch of Digibyte. Since then, DGB is still seen as an important blockchain pioneer.

What are the benefits of Digibyte?

1. Highly secure
Digibyte is one of the most secure cryptocurrencies in the world. This is because DGB has a blockchain spread across over 200,000 servers and computers. In addition, the Digibyte network is extra safe because 5 mining algorithms are used.

2. Fast
Another big advantage of Digibyte is that the network is very fast. DGB has the fastest block speed of any UTXO blockchain in the world. 

3. Large community
Digibyte has been making strong progress in marketing lately. The cryptocurrency community plays a major role in this. This provides additional exposure for the coin.

4. Scalable
Digibyte can process 560 transactions per second while Bitcoin can only process 7 transactions per second.

What are the disadvantages of Digibyte?

1. Not unique enough
A disadvantage mentioned by critics is that Digibyte is not unique enough. The coin is actually an enhanced Bitcoin, just without the name recognition. According to some, it takes more to become a major player in the crypto market.

2. Still unknown to large crowds
Only in 2018 will we see that  Bitcoin is really accepted by the Mainstream. Gradually, altcoins such as Ethereum and Ripple are following. However, many smaller altcoins such as Digibyte are not yet known to a large group of people. This ensures that DGB has not yet reached its full potential.

3. Not yet fully accepted
Like all cryptocurrencies, Digibyte is not yet fully accepted. Many governments fear that cryptocurrencies are harmful to the financial system. Governments do not yet have proper regulations for cryptocurrencies. This ensures that large institutional investors only dare to invest sparsely.

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