DigiByte

DigiByte is a blockchain that was invented back in 2014. Similar to Bitcoin, it is a UTXO blockchain network. However, DigiByte aims to be faster, more secured and more decentralized compared to Bitcoin. It also promises a lower transaction fee.
Share:
Price
Basic
Initial release:
2014-01-10
Consensus Mechanism:
Proof-of-work
DigiByte101

What is DigiByte?

DigiByte is a blockchain that was invented back in 2014. Similar to Bitcoin, it is a UTXO blockchain network. However, DigiByte aims to be faster, more secured and more decentralized compared to Bitcoin. It also promises a lower transaction fee.

How does DigiByte work?

Like Bitcoin, DigiByte is a UTXO-based cryptocurrency. However, DigiByte has a shorter block time. A new block is mined roughly every 15 seconds. The platform supports 5 different mining algorithms all operating on Proof-of-work consensus. Given the shorter blocktime, more blocks are created within the same timeframe, and with 4 years of existence it is one of the longest blockchain in existence.

The fast block time puts a challenge on the nodes as they need to maintain the entire history of the blockchain in order to confirm new transactions. To tackle this issue, DigiByte adopted segregated witness (SegWit) protocol which separates transaction confirmations from the transaction information in the block.

Reddit Hot Discussion
Official DigiByte Twitter