DigiByte is a highly-decentralized public UTXO blockchain that offers users a broad variety of applications including currency, data storage, and identity verification and protection.
The longest of all UTXO blockchains, DigiByte enjoys a broad network consisting of more than 200,000 nodes worldwide (Bitcoin BTC, in comparison, is currently running approximately 10,000 nodes). This enables DigiByte to be highly secure with high-speed block creation and excellent transaction speed capabilities, especially when compared to other UTXO blockchains. Creating blocks every 15 seconds, DGB's block mining speed is 40 times faster than Bitcoin, for example. It is currently capable of handling 560 transactions per second, and with plans to double block size every two years, will scale to handle 280,000 transactions per second by 2035.
DigiByte is on the cutting edge, innovating ahead of the competition in many regards, but especially in terms of network security and integrity. DigiByte uniquely utilizes multi-algorithm mining, called MultiShield, meaning it simultaneously uses 5 different algorithms to mine blocks, thus protecting the blockchain from potential attacks and double-spending. Along with multi-algo mining, DigiByte also takes advantage of the unique DigiShield solution to hashing difficulty, constantly adjusting difficulty on each algorithm and thereby retaining an optimal balance and security in the network's operations. Numerous other cryptocurrencies, such as ZCash, Bitcoin Cash, and Monacoin, have adopted these technologies that were first created by the DigiByte team and initiated on DGB.
With a strong emphasis on decentralization, DigiByte seeks to avoid the trappings of many more centralized cryptocurrencies. Whereas some more centralized currencies are at the mercy of a few powerful entities or even individuals who hold considerable hashing power, DigiByte can not be controlled by any small concentrated group due to its design. Without any pre-mining or ICO, all users have equitable access to the technology and its value from the time of its conception and on through time into the future.
The DGB blockchain also serves a huge range of utilities. Able to support smart contracts and DApps (decentralized apps), DigiByte offers many possible applications. For instance, Digi-ID can be used as proof of identification without the need for passwords, logins, or two-factor authentication by simply using the built-in feature in the DigiByte wallet. DGB is thus used to provide private and secure identity authentication and eliminates the possibility of fraudulent behaviour due to the immutable and incorruptible nature of blockchain technology. This capacity to prevent fraudulent behaviour extends to documentation and record-keeping in fields such as real estate and health care, for example, as well as in the utility of IoT devices and applications.
Few crypto communities are more passionate and committed than DigiByte's. Being so broadly decentralized, the DigiByte community is active around the world, contributing to ongoing improvements, refinements, and exciting innovations in blockchain technology. This is a community that is united in its mission to maintain true decentralization and to overcome many of the challenges faced in the quest to further spread the economic and societal influence of cryptocurrency and unleash the full potential of distributed ledger technology.