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What is Digibyte coin (DGB) and how does it work?

by Financial Economy

DigiByte was developed in 2013. Launched in 2014 by DigiByte founder Jared Tate, this project operates as an open-source blockchain. The DigiByte network is based on three layers: smart contracts, decentralized applications (DApps) and customizable tokens. Detailed information about what Digibyte coin DGB is and how does it work, how to buy, reviews, etc. is located in the continuation of the article. You can browse here for information about OKB coin.

What is Digibyte coin (DGB) and how does it work?

DigiByte is a decentralized, security and speed focused cryptocurrency. Jared Tate developed DigiByte in 2013 and launched the Genesis Block of this coin in January 2014. DigiByte, one of a handful of blockchain projects at the time, did not hold any ICOs. After entering the market, Tate devoted himself full time to developing DigiByte and since then has established the DigiByte foundation to raise funds for the project.

DigiByte’s digital assets are located in the open ledger, which forms the middle layer on the network. The third and lower layer holds the decentralized nodes, client software and their communication.

One of DigiByte’s unique features is the five mining algorithms it uses. These algorithms; Sha256 are Scrypt, Skein, Qubit and Odocrypt. The enhanced difficulty settings of these algorithms aim to keep the blockchain secure and protect it from malicious attacks. Also DigiByte has its own block scanner, which is DigiExplorer.

DigiByte became the first major altcoin to activate Segwit in April 2017. DigiByte launched DigiAsses in May 2019. DigiAsses works as a scalable layer two solution on the DigiByte blockchain infrastructure that can issue assets decentralized, offer smart contracts, digital identities, and more.

Is Digibyte (DGB) mining done?

When DigiByte was launched, no tokens were produced, so it can only be mined. DigiByte has a limit of 21 billion coins, all of which will be raised by 2035. You can mine DigiByte alone or with the help of a pool using one of the five mining algorithms it supports.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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