What Is DigiByte (DGB)?
DigiByte (DGB) is a cryptocurrency meant to fix Bitcoin’s issues with speed and security. It was developed in 2014 and because it’s so much faster than Bitcoin, it has a longer digital ledger (i.e. more transactions recorded). Its continued development focuses on increasing and maintaining exceptional levels of security and speed, even getting a co-sign from paranoid security expert and cryptocurrency fanatic John McAfee.
Who Is DigiByte?
DigitByte was created by Jared Tate, a cybersecurity expert based in Austin, TX. Its website lists the copyright as open-source under the MIT license.
Use Cases of DigiByte
Because DigiByte has faster transaction speeds and is open-sourced, it’s likely to be used as a digital currency. The company also onboarded a variety of third-party partnerships, including Digihash, Abra, Shapeshift, Digusign, HitBTC, Bittrex, and Litebit. Many of these “partners” are simply exchanges that support DGB transfer to other cryptocurrencies.
How to Mine DGB
DGB is mined using five different algorithms to prevent centralization. While theoretically possible to mine with a home device, you’re better off joining a pool or purchasing an array of ASIC machines to maximize profits.
Learn More About DigiByte
If you want to learn more about DigiByte, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.