DigiByte (DGB) Profile

DigiByte Token Profile (PDF)

DigiByte is a digital token designed specifically for mining using different algorithms. It was created in 2014 as a fork of the Bitcoin protocol. It attempts to improve the security features of Bitcoin and decreased the 10-minute block creation time to enable faster transactions. In addition to Huntercoin, DigiByte pioneered the concept referred to as “multi-algorithm mining,” which enables the validation of network transactions using different mining software; including Bitcoin’s SHA-256 hash algorithm and Litecoin’s Scrypt. This feature at times made the protocol attractive to many miners since they can leverage their existing hardware to mine DigiByte blocks. The project was able to secure deals with some platforms to use DigiByte as their native token, including DiguSign, a smart contract platform for payments. Although four digital tokens were forked from DigiByte, core development continues to flourish. In April 2017, DigiByte became the second major digital token to implement SegWit, or Segregated Witness, an update initially intended for Bitcoin that optimizes what is stored in the blockchain.