Overview

A coin that has adopted the Bitcoin "21" figure however it increased the supply to 21 billion with past 5 algorithms to mine so as to continue mining locally. It consists of about 60-second block target, a 0.5% premine and a block retarget every 2.4 hrs or of 244 blocks.

It refers to the whole DigiByte network or can also be stated to be a single monetary unit on the payment network. In over 21 years, a 21 billion DigiBytes is expected to be created.

Block: Within the timeframe of 30 seconds, DigiByte sends a grouping of transactions across its network. Like an excel spreadsheet, the block lists the address location of all the DigiBytes in a given point. The new DigiBytes are included in the circulation as each block is discovered on the network with a process called mining.

Mining consists of the transactions that are processed in the network. An individual can participate to be a miner and utilize its device’s computing power to process the transactions on the network. The process is even made easier for the beginners with 3 click mining software.

Blockchain: The DigiByte blockchain consists of the entire history of all the blocks that are discovered on the network. The references of each block proceed all the way back to the start of the network which is also known as the genesis block. The ownership of DigiByte is made by decentralized consensus by linking the blocks together with accuracy, and securing the accounting of all the up to dates. 

The platform states network and the security of the user a priority. It strives to create speedy decentralized transactions, attain to keep the network open, transparent and accessible, easy-to-use and understand, innovative and adaptable technology, and facilitate improvisation.

The platform utilizes five highly advanced cryptographic algorithms, the transaction notifications occur in 1-3 seconds, wherein the blocks are discovered in every 30 seconds, and transactions are confirmed in 3 minutes, while it also states its future updation to working on increasing the speed. 

The fees consisting of DigiByte to DigiByte transactions are either free or carries a very small network-mining fee so as to incentivise people to mine. 

DigiBytes has already been used across 89 countries, and since it is decentralized, it does not require a middleman, 3rd party or central server. A new DigiByte production decreases every month to 1%. It provides its services to banks, merchants, and legacy institutions.