This message is addressed to all the people with the question: “ Why should I look into DigiByte?”
1. DigiByte is around since 2014 (founded by Jared Tate). Proven and battle hardened.
Designed to become a better version of Bitcoin, and meets Satoshi’s true vision, being an open-source, truly globally decentralized, permission-less peer-to-peer network. With over 12M blocks, DigiByte is the longest UTXO blockchain in existence.
2. DigiByte is no ICO, there is no company behind, but it’s a grassroots movement.
A community of volunteers, that is still growing very rapidly all over the world. DigiByte has a finite supply of 21 billion ever to be mined (2035).
3. DigiByte has great technical features:
1,066 instant transactions per second.
DigiByte became the world’s first blockchain to install SegWit (Segregated Witness). With 1 sec. wallet-to-wallet and 15 second block-time, it’s the fastest decentralized POW UTXO blockchain in existence. Also the reliability in consistency of block timing is unrivaled.
Transaction fees are negligible (close to zero)
Tens of thousands of active nodes, hundreds of thousands downloads.
DigiByte is the essence of decentralization with a globally distributed open source network running on consensus instead of a centralized entity.
With 5 different algos run on different types of hardware to even further decentralize its global mining.
5 different mining algorithms with real time difficulty adjustment over 5 independent algos to protect against 51% attacks.
DigiByte pioneered both MultiShield and DigiShield, a technology that creates an asymmetric realtime difficulty adjustment, and is now even widely implemented in many other blockchains, like Zcash,Bitcoin Cash and over 25 others.
DigiByte production version now scales to 1066 transactions per second, on-chain. The vision of on-chain scaling is clear to support the DigiByte use cases, keeping it permisson-less and to prevent centralized off-chain solutions with corruptible middle man.
4. DigiByte Blockchain Technology has 6 pillars with a focus on real-world use cases:
Cryptocurrency & Global Payments:
DGB is the ultimate merchant coin. Fast, cheap and secure. Listed on over 100 exchanges, multiple wallet providers and payment processors, including POS systems. With 1 sec. wallet-to-wallet, 15 sec. confirmation, It is one of the few that is actually usable at the point of sale, both in online merchant solutions, as in brick & mortar shops.
Proof of Authenticity:
Validation and verification of digital materials. V-ID is using DigiByte Blockchain as one of the chains to validate and verify authenticity:
(Online) access control without the use of username, password or even 2FA. Several online platforms are using Digi-ID Technology for secure authentication. Antum ID has created MyDigiPassword, based on DigiByte’s Digi-ID technology for secure login to websites.
A secure layer on top of the DigiByte blockchain that allows decentralized issuance of assets, tokens, NFT’s, smart contracts, digital identity and much more. DigiAssets can be used to create a digital representation of real-world assets on the DigiByte blockchain. P2P financial solutions, crowd funding, ticketing, collectibles, trophies, certificates etc.
The ability to wrap DGB to renDGB will provide us interoperability with Ethereum’s ERC20 network and DeFi protocols.
Proof Of Community:
We call this our sixth algorithm: Proof of Community.
As DigiByte is a true, all inclusive, global grassroots movement!
No matter how big or small, we equally appreciate all positive contribution to DigiByte, its blockchain, ecosystem and community.
5. Commercial Development
In 2017 the community was able to improve the awareness on DigiByte with the foundation of the DigiByte Awareness Team. With their outreach activities they were able to have DigiByte listed and integrated on many exchanges, wallet providers and payment processors. Moreover, they were able to have DigiByte Technology applied in some real world use-cases, in example the ones created by VIDT and Antum.
Because of the rapid growth of the DigiByte ecosystem and its global DigiByte community, a legal entity called the DigiByte Foundation, was established in 2020 to protect the core values of DigiByte, remove single point of failures, guarantee ongoing development, be a point of contact for businesses and organizations, and (very important): be the voice of the large and fast growing DigiByte community as a whole.
2021 is going to be more exciting than it is already. We have a focus on bridging the gap between the decentralized DigiByte project and the commercial corporate enterprise world.
LCX, a Liechtenstein company recently partnered with the DigiByte Foundation, will be able to support us with their network of industry leaders, thought leaders, influential banks, legal- & finance professionals and resources to get us started with a great new venture. In this world there are too many issues related to our privacy and our data. We are on a mission to create a better and more secure digital environment, with self sovereignty for our children by embedding DigiByte blockchain technology in real world use-cases.
You can support and strengthen the DigiByte network by running a full node. Experience the speed of DGB yourself. Download a wallet and send or receive some DGB. Become a DigiByte community member instantly. Join this grassroots movement.
Secretary & Vice-Chair DigiByte Foundation.