Cryptocurrency DigiByte (DGB)
One such project is the DigiByte (DGB) cryptocurrency, which is increasingly gaining popularity in the digital market. This asset appeared relatively recently - in 2014, but there are very positive rumors about it among the community. Many investors view DGB as a promising cryptocurrency with good growth potential.
Indeed, over the past period of digital market growth in 2017, DigiByte was able to grow significantly in almost half the season. DGB began trading at the beginning of 2020 at a price of $0.0002, and at the end of the year the cost of one coin was already $0.07. As a result, those who invested in this project were able to increase their capital by 35,000%
DigiByte. History of price rise
Not every cryptocurrency can boast such a good result. In addition, DGB is famous for its unique Blockchain architecture, which has many advantages over Bitcoin technology. That is why DigiByte should definitely be considered as one of the options for diversifying your investment portfolio.
And to convince you of this completely, let’s take a closer look at the DigiByte cryptocurrency. The history of its creation, all the features of the DGB system and we will evaluate the prospects for the growth of the coin over the next few years.
DigiByte (DGB) cryptocurrency rate
According to coinmarketcap.com, you can track the price, capitalization and place in the ranking of the top cryptocurrencies at the moment.
The project's capitalization is just over $300 million, the price of one coin is about $0.029. The total issue of coins is 21,000,000,000 DGB, currently there are 10,641,495,448 DGB in free circulation. It is noted that cryptocurrency mining is possible using five different algorithms: SHA 256, Skein, Qubit, Groestl and Scrypt . The official website of the company is https://www.digibyte.io
DGB rate:
| 1 DGB = | 0.11930000 AED |
| 1 DGB = | 0.00000000 AFN |
| 1 DGB = | 3.27300000 ALL |
| 1 DGB = | 12.8100000 AMD |
| 1 DGB = | 32.2000000 AOA |
| 1 DGB = | 0.04492000 AUD |
| 1 DGB = | 0.00000000 AZN |
| 1 DGB = | 0.02970000 BAM |
| 1 DGB = | 0.00000000 BBD |
| 1 DGB = | 2.65300000 BDT |
| 1 DGB = | 0.07674000 BGN |
| 1 DGB = | 0.00735200 BHD |
| 1 DGB = | 0.24880000 BOB |
| 1 DGB = | 0.17350000 BRL |
| 1 DGB = | 0.00000000 BSD |
| 1 DGB = | 0.00000274 BTC |
| 1 DGB = | 0.00000000 BTN |
| 1 DGB = | 0.98560000 BTS |
| 1 DGB = | 0.08343000 BYN |
| 1 DGB = | 0.04282000 CAD |
| 1 DGB = | 0.02931000 CHF |
| 1 DGB = | 0.22560000 CNY |
| 1 DGB = | 113.230000 COP |
| 1 DGB = | 20.0600000 CRC |
| 1 DGB = | 0.70890000 CZK |
| 1 DGB = | 0.00035340 DASH |
| 1 DGB = | 0.26850000 DKK |
| 1 DGB = | 9.13300000 DOGE |
| 1 DGB = | 1.82400000 DOP |
| 1 DGB = | 0.72690000 DZD |
| 1 DGB = | 16.1200000 EAC |
| 1 DGB = | 0.56350000 EGP |
| 1 DGB = | 0.62700000 EMC |
| 1 DGB = | 0.78360000 ETB |
| 1 DGB = | 0.00007515 ETH |
| 1 DGB = | 0.02720000 EUR |
| 1 DGB = | 0.01815000 FCT |
| 1 DGB = | 3.22400000 FTC |
| 1 DGB = | 0.02457000 GBP |
| 1 DGB = | 0.10160000 GEL |
| 1 DGB = | 0.00617100 GGP |
| 1 DGB = | 0.00080680 GIP |
| 1 DGB = | 0.29500000 GTQ |
| 1 DGB = | 0.24540000 HKD |
| 1 DGB = | 0.82200000 HNL |
| 1 DGB = | 0.20900000 HRK |
| 1 DGB = | 10.3700000 HUF |
| 1 DGB = | 479.500000 IDR |
| 1 DGB = | 0.11070000 ILS |
| 1 DGB = | 2.45600000 INR |
| 1 DGB = | 30.0700000 IQD |
| 1 DGB = | 6734.36000 IRR |
| 1 DGB = | 4.21100000 ISK |
| 1 DGB = | 5.82300000 JMD |
| 1 DGB = | 0.02385000 JOD |
| 1 DGB = | 3.42400000 JPY |
| 1 DGB = | 3.29300000 KES |
| 1 DGB = | 1.73900000 KGS |
| 1 DGB = | 112.130000 KHR |
| 1 DGB = | 37.7600000 KRW |
| 1 DGB = | 14.6300000 KZT |
| 1 DGB = | 47.5100000 LBP |
| 1 DGB = | 6.46400000 LKR |
| 1 DGB = | 0.00056890 LTC |
| 1 DGB = | 0.30680000 MAD |
| 1 DGB = | 0.44520000 MDL |
| 1 DGB = | 0.00000000 MGA |
| 1 DGB = | 36.7800000 MMK |
| 1 DGB = | 0.00000000 MVR |
| 1 DGB = | 34.8700000 MWK |
| 1 DGB = | 0.70690000 MXN |
| 1 DGB = | 0.13430000 MYR |
| 1 DGB = | 0.00000000 MZN |
| 1 DGB = | 0.71240000 NAD |
| 1 DGB = | 15.0200000 NGN |
| 1 DGB = | 0.03053000 NMC |
| 1 DGB = | 0.30860000 NOK |
| 1 DGB = | 4.45500000 NPR |
| 1 DGB = | 0.15140000 NVC |
| 1 DGB = | 2.44600000 NXT |
| 1 DGB = | 0.04913000 NZD |
| 1 DGB = | 0.01336000 OMR |
| 1 DGB = | 0.03083000 PAB |
| 1 DGB = | 0.11390000 PEN |
| 1 DGB = | 0.18580000 PGK |
| 1 DGB = | 1.61600000 PHP |
| 1 DGB = | 5.30200000 PKR |
| 1 DGB = | 0.11990000 PLN |
| 1 DGB = | 0.10350000 PPC |
| 1 DGB = | 223.570000 PYG |
| 1 DGB = | 0.13800000 QAR |
| 1 DGB = | 0.11780000 RON |
| 1 DGB = | 3.52000000 RSD |
| 1 DGB = | 2.30700000 RUB |
| 1 DGB = | 0.12060000 SAR |
| 1 DGB = | 0.30380000 SEK |
| 1 DGB = | 0.04401000 SGD |
| 1 DGB = | 0.00000000 STR |
| 1 DGB = | 0.00000000 SVC |
| 1 DGB = | 0.83760000 SZL |
| 1 DGB = | 0.99380000 THB |
| 1 DGB = | 0.06215000 TND |
| 1 DGB = | 18.1500000 TOP |
| 1 DGB = | 0.23810000 TRY |
| 1 DGB = | 0.28150000 TTD |
| 1 DGB = | 1.09300000 TWD |
| 1 DGB = | 72.4900000 TZS |
| 1 DGB = | 0.87600000 UAH |
| 1 DGB = | 118.110000 UGX |
| 1 DGB = | 0.03193000 USD |
| 1 DGB = | 1.56800000 UYU |
| 1 DGB = | 393.410000 UZS |
| 1 DGB = | 128506.0400 VEF |
| 1 DGB = | 460.320000 VND |
| 1 DGB = | 0.11050000 VTC |
| 1 DGB = | 3.48600000 VUV |
| 1 DGB = | 0.00000000 WST |
| 1 DGB = | 20.3500000 XAF |
| 1 DGB = | 0.00035040 XMR |
| 1 DGB = | 21.2700000 XOF |
| 1 DGB = | 0.40120000 XPM |
| 1 DGB = | 0.10840000 XRP |
| 1 DGB = | 0.58500000 ZAR |
| 1 DGB = | 0.65520000 ZMW |
History of the creation of DigiByte
For the first time, the developers of the Digibyte company thought about creating their project in 2013. They decided to take the Blockchain of the most famous cryptocurrency Bitcoin as a basis.
In total, it took the creators one year to implement their project. During this time, they significantly improved the source code of the Bitcoin blockchain. In particular, they gave it the ability to mine DigiByte using five algorithms, thereby increasing the efficiency and functionality of the digital asset significantly.
As a result, in 2014, the DigiByte cryptocurrency entered the market, providing everyone with its unique product with an improved Blockchain code.
History of creation and improvement of DigiByte
The author and main leader of the project is Jared Tate. It was under his leadership that work began on a new cryptocurrency back in 2013.
From reliable data about the development team, only one more official programmer is known for sure, who is among the developers of the project. He is Jared Morgan. The rest of the team still prefers to remain anonymous.
From the very beginning, the work was focused on creating a decentralized open-source virtual coin, while not forgetting to implement guarantees for the cybersecurity of users.
In addition to achieving records for the speed of transactions, the creators took into account the errors of other popular cryptocurrencies (mainly BitCoin and LiteCoin), which made it possible to reduce the volatility of the coin price to a minimum.
The upper ceiling of issued coins will be reached by 2035 (21 billion DGB). It is noteworthy that this figure is 100 times higher than that of Bitcoin.
Finally, we note that DGB became the pioneer among altcoins that successfully activated SegWit (this happened in 2017).
DigiByte cryptocurrency security. Mining on 5 algorithms
DigiByte is a special decentralized payment network based on 5 algorithms - Scrypt, Sha-256, Qubit, Skein, Groestl. This unique development makes DGB the fastest and one of the most secure digital projects.
The very fact that DigiByte is based on several algorithms makes mining this cryptocurrency as profitable as possible. You can mine DGB using both regular video cards and ASICs. But that is not all. This structure of the system also makes the Digibyte currency the most secure system at this time, which simply has no other analogues. In order for a fraudster to gain control of the network, he will have to control 80-90% of the total hashrate for one algorithm and more than 50 for the rest.
To carry out an attack on a network, you will need incredible computing power, which is why the reliability of the DigiByte system is its main advantage.
General information about the DigiByte cryptocurrency
The DigiByte (DGB) cryptocurrency was created in 2013. It, like many modern projects, was created to make blockchain even better. During the development process, the creators tried to collect all the positive aspects of the blockchain projects existing at that time and make something that included all these indicators.
This is how DigiByte was born, which is called the largest, fastest and most convenient example of using the new technology. In addition, the developers tried, whenever possible, to pay attention to the security of the presented platform. For example, one of its features is that as many as five different algorithms were used in the DigiByte blockchain code:
- Groestl.
- Scrypt.
- Qubit.
- SHA 256.
- Skein.
This solution realized the main advantage of the coin - the possibility of mining not only on ASIC devices, but also using video cards.
In addition, this allows you to further secure the network. Hackers must control 80-90% of the total hashrate of one algorithm and at least 50% of the rest in order to somehow influence the operation of the network. If you doubt how effective this is, we can only say one thing: no other cryptocurrency has analogues of such a powerful security system, even the vaunted Bitcoin.
Now let’s take a short review of the DigiByte cryptocurrency:
- Official website – www.DigiByte.io;
- Protection method – Proof of Work;
- Trading ticker – DGB;
- Capitalization – $344,709,374;
- Cost – $0.03399;
Maximum emission – 21 billion. Coin mining will take place until 2035;- The block reward amount decreases by 1% every month;
- Works on five algorithms. Each of them accounts for a fifth of the blocks, that is, 20%;
- In April 2020, SegWit was successfully activated.
In short, the team behind the DigiByte platform was trying to create a digital coin that would allow fast payments anywhere. At the same time, the product should have minimal volatility, so that it could be integrated for the purchase of goods and services. And DigiByte has every chance to show its effectiveness in this regard.
For example, the presence of 21 billion tokens makes its volatility minimal. And being tied to world currencies will prevent it from becoming a tool for speculation. As a result, we have an ideal transaction tool.
Mission of the DigiByte project
The main idea of the developers of the DigiByte cryptocurrency was to create a project that would allow each user to carry out transactions within the network without any obstacles or delays. And DGB is perfect for this, since this cryptocurrency, in fact, cannot be destroyed, hacked or counterfeited, and transactions occur very quickly and their cost is minimal or not charged at all.
In the long term, DGB can be safely used to transfer confidential information, various currencies, property rights, etc. According to the developers' plan, Digibyte will be tied to the rate of one of the world currencies. Since the number of DGB coins is strictly limited in the code, the volatility of this asset will be minimized, which will make the DGB cryptocurrency even more convenient for financial transfers.
Prospects for DigiByte (DGB)
After digging through a bunch of information on the Internet, we realized that the DigiByte developers decided to take their project seriously. This is evidenced by the number of exchanges that have added DGB coins to the listing, as well as the support of platforms and programming languages that were used to write its blockchain.
Given the difficulty of scaling the Bitcoin network, DigiByte cryptocurrency can be used for payments on some platforms. But, most likely, this project will not be able to pass the test of time, and will not have enough popularity.
Advantages of DigiByte
The Digibyte project has quite a few advantages. Let's highlight the main ones:
- Global network decentralization . The DGB network is distributed worldwide on 100,000 servers, PCs and other devices. It is worth noting that each device connected to the DigiByte network automatically becomes one of the nodes. Therefore, problems with the distribution of DGB are definitely not expected.
- Maximum degree of protection. The DGB network operates on 5 algorithms, so it is not possible to hack it. At the very least, this will require powerful computing power.
- Fast transactions. DGB blocks are created every 15 seconds, making intranet transfers super fast. In fact, the DGB network is now 40 times more powerful than the Bitcoin blockchain. By 2020, the DigiByte cryptocurrency should process more than 5,000 transactions per second (like the Visa payment network)
- Limited issue of coins. In total, the DigiByte cryptocurrency will issue 21 billion DGB , which are planned to be mined by 2035.
Comparison of DigiByte and Bitcoin
Development team
The founder and creator of DigiByte is Jared Tate. Since 2012, Jared has been involved in the Bitcoin community, but some time later in 2013, he found some flaws in the Bitcoin protocol and decided to create his own project without these errors, which was eventually called Digibyte.
Behind the project is a large team of experienced programmers and developers. Just look at the impressive list of publications on the official Github. In addition, the team maintains a competent and targeted policy for interaction with the community. The project has an actively growing number of points of presence on social networks and public platforms. The number of supporters is constantly increasing and this is a good marker of the growth potential of the DigiByte cryptocurrency.
Where to buy DigiByte (DGB) cryptocurrency
Although the DGB cryptocurrency is not as popular as Bitcoin or Ether, it can currently be purchased on almost all the best crypto exchanges. The coin has long been added to their trading list by such large platforms as:
- Bittrex
- Huobi
- Poloniex
- HitBTC
- KuCoin
The largest daily trading volume occurs on the Bittrex exchange - more than $1,175,000. There you can buy DigiByte cryptocurrency without any problems by exchanging Bitcoin or Ethereum for it.
How and where to buy: listing on exchanges and availability in exchangers
You can purchase DGB cryptocurrency on almost all well-known exchanges, such as Poloniex, Bittrex, HitBTC and others.
You can purchase coins using Bitcoin, Ethereum, Litecoin and others.
After registering and replenishing your account on the service, you will need to select a trading pair, depending on what currency is in your account.
You can also withdraw DGB to fiat through an exchange (if available) or through exchangers.
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DigiByte Storage Wallet
Most often, due to its low cost, DigiByte cryptocurrency is preferred to be stored on the exchanges where users purchased it. And given the fact that the main trading platforms selling DigiByte are very popular exchanges with a high level of account protection from hacking, keeping DGB on exchanges is one of the most convenient options for storing this asset. However, I would like to note that the chances of your account being hacked and the possibility of losing all your investments in the DGB cryptocurrency remain quite high.
That is why it is best to store your digital coins in electronic wallets created by the developers of the Digibyte company. Initially, the founders of DGB took care of their users by creating several options for storing their assets.
DigiByte (DGB) Storage Wallet Options
The most popular is to install the client on your PC (support for Windows, Linux and MacOS). This desktop wallet option is the most secure way to store DGB cryptocurrency.
An additional option for storing DGB coins is to install a mobile application or install a Chrome browser extension. If you wish, you can install a hot storage electronic wallet called Coinomi on your phone, it is quite convenient to use, but the security of storing your digital assets is significantly reduced. Accordingly, if you have large accumulations of DigiByte cryptocurrency, then be sure to use the official desktop wallet from the DGB developers.
