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DigiByte
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The price DigiByte today is 0.042879 USD, and the trading volume in 24 hours - 18,814,315 USD. The crypto asset has grown by -6.38% over the day. Currently, the coin’s market capitalization is 630,631,610 USD, and has 14,707,236,865 coins in circulation with the max supply of 106,285,390 coins DGB.

What is DigiByte (DGB)?

DigiByte (DGB) is an open source blockchain and asset creation platform. Development began in October 2013, and the genesis block of its DGB token was mined in January 2014 as a fork of Bitcoin.

DigiByte is a long-standing public blockchain and cryptocurrency that uses five different algorithms to improve security, and was originally aimed at improving the security, capacity, and transaction speed of the PTC blockchain.

DigiByte consists of three layers: an App Store smart contract, a public registry, and a core protocol in which nodes interact with relay transactions.

Who is the founder of DigiByte?

DigiByte was created by Jared Tate, also known as "DigiMan".

Tate's biography states that he has been involved with Bitcoin since 2012, and is the author of the book: "Blockchain 2035: The Digital DNA of the Internet 3.0".

DigiByte's activities depend not only on the developers, but also on the DigiByte Foundation, a volunteer organization charged with overseeing the preservation of the project. A third group of volunteers, the DigiByte Awareness Team, is responsible for marketing and advertising activities.

What makes DigiByte unique?

DigiByte is a modification of Bitcoin, which aims to diversify the security, speed and capacity capabilities.

Its first incarnation was in the form of an open source blockchain and the associated cryptocurrency DGB. The network has five separate algorithms that help maintain security and prevent ASIC miners from using too much power.

Later, another offer appeared - digiassets with its own DGB token. Digiassets appeals to those developers who want to run digital assets, decentralized applications (dApps) and encode the necessary relevant smart contracts.

All management structures of DigiByte operate on a voluntary basis in accordance with the thesis that the network should be open source and be publicly available. DGB transaction fees are paid to miners for verifying the blockchain.

How many DigiByte (DGB) coins are in circulation?

Today, there are more than 13 billion DGB coins in circulation. DGB has a strict supply limit of 21 billion tokens, while mining forms a curve with a decreasing issue - the reward for a block decreases by 1% each month.

DigiByte said it did not intentionally attempt to raise funds or distribute tokens through tools such as an initial coin offering (ICO) or similar token sale.

How is the DigiByte network protected?

DigiByte uses a total of five proof-of-work algorithms to protect the blockchain and reduce the risk of double spending or attacks by 51%.

Difficulty adjustment provides resistance to hostile actions in mining circles, with DigiByte claiming to have the most advanced setting of such complexity among cryptocurrencies.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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