What is DigiByte (DGB)? | A Legitimate Bitcoin Competitor?
By
Bennett Garner
December 3, 2018 10:30 am
DigiByte is a cryptocurrency that focuses on security, decentralization, and speed. Founded in 2014, it’s part of the older class of cryptocurrency projects. However, despite its age and ongoing development over the past four years, this project is still relatively unknown.
In this guide we cover:
What Is Digibyte?
History and Team
Trading History
Technical Specifications
Future Outlook
Where to Buy DGB
Where to Store DGB
Competition
What Is DigiByte?
DigiByte’s supporters argue that it’s the sleeping giant of cryptocurrency. According to its fans, it’s on the cutting edge of crypto-technology. It hosts a network that’s faster, more scalable, and more secure than other major currencies. Over time, they argue, its superior technology will win out againstBitcoin, Litecoin, and other top digital cash options. The project has a dedicated community and nearly 100,000 nodes across the globe.

DigiByte Features
On the other hand, adoption over the past four years has been slow. It’s still a relatively obscure currency compared to its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s little technical information about how the network actually functions. It’s difficult to get a sense of the real achievements of DigiByte versus things they have planned for the future.
In this article, we’ll try to dig deeper into the platform – its history, technological specifications, and its achievements. In the end, you’ll have to make your own decisions about whether DigiByte is the next big thing or mostly fluff.
History & Team
Jared Tate developed DigiByte in 2013 and launched the genesis block in January 2014. At the time, it was one of only a handful of public blockchain projects. It launched without an initial token sale and with little fanfare.

DigiByte Creator Jared Tate
After the launch, Tate dedicated himself full time to DigiByte’s development. Since then, funding for the project has come through donations to the DigiByte foundation. It’s also reasonable to assume that Tate and others involved in the project hold a significant amount of DGB (the native coin) from mining and initial transactions. Their wealth would increase any time the price of DGB increases.
Speaking of other people working on the team, it’s difficult to find much out about the staff supporting the project. The website doesn’t contain information about the team. A little digging on LinkedIn turned up a total of fewer than ten developers who claim to work for the project, including Tate.
Trading History
As with all cryptocurrency, DigiByte’s price has been volatile recently. Up until 2017, it’s price remained relatively constant, with only slight growth. However, 2017 and 2018 saw a series of spikes and crashes for DGB.
A June 2017 spike came when DigiByte hinted at an impending announcement on Twitter. Investors looking to make money off the announcement quickly bought into DigiByte. This pumped the price. However, the announcement didn’t come for several more days. It introduced a new wallet and a few added features. By the time of the announcement, the price of DGB had already collapsed to near pre-announcement levels.
DigiByte’s price spiked again in December 2017-January 2018. John McAfee, a popular crypto-investor, tweeted about DigiByte as a company worth watching. The resulting December spikecarried into the new year. But, it eventually collapsed along with the rest of the crypto market in the correction of January 2018.
There have been no major fluctuations in 2018, except for a brief period in Q3 of this year where the price rose for a month or two. This came around the same time the company announced wallet availability for iOS and Android, which may explain it. Also at this time, the Apple App Store started allowing payments in Digibyte.
Technical Specs
Like Bitcoin, DigiByte is a UTXO-based cryptocurrency. This means that new transactions don’t come from a wallet “balance.” Instead, each individual coin has an identifier. When a coin enters your wallet, it is considered “unspent” by your wallet. When you send that coin to someone else, it becomes a spent coin. This prevents the double spend problem of digital currency. It also solves other security issues with the blockchain.
DigiByte vs. Bitcoin
Blocks, Mining, and Hashing Algorithms
DigiByte launched its genesis block on January 10th, 2014. At launch, it used a single proof of work algorithm. Soon after, however, it co
Related Post:
- WHY DIGIBYTE DGB PRICE WOULD REACH 10 DOLLARS BY 2023 ?
- DIGIBYTE DGB TO REACH 7 DOLLARS SOON !
- DIGIBYTE DGB PRICE TO REACH 7 DOLLARS SOON !
- DIGIBYTE (DGB) PRICE PREDICTION – DIGIBYTE FORECAST – DIGIBYTE PRICE REVIEW #Digibyte News #DIGIBYTE
- Digibyte DGB Price Prediction – Digibyte WILL REACH $30 IN 2023 HERE IS WHY? – Digibyte DGB Crypto
- Digibyte DGB Price Prediction – Digibyte WILL REACH $20 HERE IS WHY? – Digibyte DGB Crypto
- CARDANO 10 MILLION DOLLARS IN NFTS INCOMING !! 13X $15 DOLLARS ?? POLKADOT ETHEREUM HATERS INCOMING!
- Why ripple reach 1000 dollars in 2019 !
- Will Ripple XRP reach 100 dollars ? – Hindi
- Why cardano reach 100 dollars till 2023 ! Probability part 3
