What is DigiByte ?
DigiByte is an open-source blockchain that prioritises safety and scalability to compete against established cryptocurrencies.
Additionally, its platform has capabilities that enable users to create content, run apps, and manage digital identities. Additionally, its protocol is designed to utilise various mining methods, and a total of 21 billion DGB coins can be mined.
About DigiByte Coin
It was launched in early 2014 after being established in late 2013 by Jared Tate, the creator, and founder.
Primary features of DigiByte
- It is a fully-functional blockchain network comprising three distinct layers: smart contracts and decentralised applications (dapps), a public ledger for the DigiByte coin, and the system’s fundamental infrastructure.
- Compared to other Proof-of-Work (POW) currencies, DigiByte offers five distinct mining methods.
- DigiByte mining is possible on a consumer-grade system that allows a broader audience to join the network.
Is DigiByte a promising cryptocurrency?
New DGB coins are created on a block-by-block basis. They are used to compensate players that have consumed energy and added transaction blocks to the DigiByte network.
DGB, like Bitcoin, is a scarce asset with a maximum supply of 21 billion tokens.
DigiByte may appeal to users as it aims to establish a viable alternative to major cryptocurrencies through asset issuance and smart contracting.
The current DigiByte price is around $0.05187. Digibyte cryptocurrency price all-time high was $0.17808 on May 1, 2021.
How to use DigiByte coins?
Transfer to other cryptos: Users can exchange DGB to other cryptocurrencies.
Create dapps: Software developers can create decentralised applications (dapps) for clients by leveraging the network’s smart contracts.
Trading and investing: One can also trade and invest in DigiByte through cryptocurrency exchanges.
Pros & Cons of DigiByte coin
DigiByte blocks are generated at a 40 times faster rate than that of Bitcoin and ten times that of Litecoin.
It boasts a transaction rate of 1066 on-chain transactions per second with a minimal fee.
They have created many things that might be regarded as firsts in the realm of blockchain.
It is decentralised, as it has never collected funds via an initial coin offering(ICO) and does not have a substantial number of pre-mined coins. Additionally, no CEO or corporation controls the blockchain.
DigiByte has been in this market for nearly seven years and they are still unable to compete with Bitcoin and Litecoin. Many individuals are unaware of the DigiByte currency as it doesn’t have enough presence in the media.
Many investors assert that DigiByte is undervalued compared to other coins because of its lack of use cases.
Beginners may not find it as an easy experience as the official wallet offered on their website is a full node wallet that needs storage of the whole DigiByte currency blockchain.
Trade DigiByte coin on CoinSwitch kuber
- Start investing and trading in DigiByte starting from Rs.100.
- Start trading through CoinSwitch Kuber without paying any initial amount.
- You can take money from your bank account and get your redemptions credited to your bank account.
- Avail user-friendly trading platform
- Check your transactions and investments easily
DigiByte ICO summary
DigiByte didn’t come up with an ICO.
FAQ's on DigiByte
- What Is DigiByte Cryptocurrency?
The DigiByte cryptocurrency aims to maintain and operate the DigiByte network.
- Should I Invest in DigiByte?
Whether you should invest in DigiByte depends on your research and where you see the coin in the future.
- Is DigiByte a Privacy Coin?
DigiByte is not a privacy coin.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.