DigiByte is a fast-growing global blockchain focused on the cybersecurity of decentralized applications and digital payments. The focus was on the most secure and reliable way of storing data, decentralization and transaction speed.
As a digital asset, DigiByte cannot be tampered with, hacked or destroyed, making it the best option for protecting valuable items such as information, currency, digital data.
It is a cryptocurrency that operates on its own blockchain, that is, open source. A quick and convenient exchange of DGB BTC is possible on the ceo-24.xyz website.
The main goal of DigiByte is to create a cryptocurrency that will be available to the wider community, completely decentralized, unlike Bitcoin.
To achieve its goal, DigiByte uses blockchain technology to develop secure applications that can resist cyber attacks.
DigiByte boasts a network that is more scalable, faster and more secure than nearly all other cryptocurrencies. DigiByte aims to surpass the operating speed of internet payment operators such as PayPal. These operators have processing speeds capable of producing one million transactions per day.
DigiByte has a time limit of fifteen seconds, which means transactions are completed, verified and confirmed faster.
It was originally viewed as a gaming cryptocurrency, but due to numerous controversies, the coin’s gaming function was closed. DigiByte remains one of the few cryptocurrencies today that uses multiple proof-of-work algorithms — five algorithms.
What problem is DigiByte trying to solve?
DigiByte was created in the same way as many other altcoins to address the shortcomings of Bitcoin. DGB is committed to addressing the issue of cybersecurity — this is its main task.
Solving problems like hacking has become a priority in the digital world, with so many people trying to manipulate others for financial gain.
Essentially, DigiByte strives to ensure the absolute security of things, information and resources.
DigiByte also strives to bring real decentralization to the world at large. Most cryptocurrencies are not fully decentralized as they are controlled by individuals and companies rather than communities. This is contrary to the definition of blockchain technology. On the other hand, DigiByte aims to address the issue of speed.
How does DigiByte solve these problems?
As noted earlier, the most obvious problem other applications face is susceptibility to cyberattacks. As a result of this threat, several valuable pieces of information are either lost or no longer confidential. Below are the DGB fixes for these issues:
- DigiByte is verified by thousands of different users and therefore cannot be hacked or tampered with.
- Implementing the five mining algorithms is another ideal step for solving the insecurity problem.
- Thanks to the creation of protocols such as multishield and digishield, the blockchain is protected from any malicious attacks.
- DigiByte’s speed is estimated to be 40 times faster than Bitcoin, which means it is able to solve the problem of slow transactions.
How can DigiByte be classified?
DigiByte can be used as a medium of exchange as well as a vehicle for investment. To enjoy the value that blockchain provides, you need to own a coin.