DigiByte vs Bitcoin
DigiByte Launch Date: January 10th, 2014
- Blockchain Type: Public, Decentralized, UTXO based, Multi-Algorithm
- Ticker Symbol: DGB
- Genisis Block Hash: "USA Today: 10/Jan/2014, Target: Data stolen from up to 110M customers"
- Max Total Supply: 21 Bilion DigiBytes in 21 Years (2035)
- Current Supply: 8,107,031,908 DGB (May 2017)
- Yearly Supply Inflation: 12% in 2017
- Block Reward Reduction: 1% Monthly
- Current Block Reward 891 DGB
- Mining Algorithims: Five (Sha256, Scrypt, Groestl, Skein & Qubit)
- Block Timing: 15 Second Blocks, (1.5 Minutes per algo)
- Algo Block Share: 20% Block Share Per Algo (5)
- Difficulty Retarget Every 1 Block, 5 Seperate Difficulties, 1 For Each Mining Algo
- SegWit Support Yes. First major altcoin to successfully activate Segwit. (April 2017)
- Hardforks 4. DigiShield, MultiAlgo, MultiShield, DigiSpeed
- Softforks 3. SegWit, CSV, NVersionBips
DIGIBYTE TRANSACTION SPEED
DigiByte has introduced special code that doubles block size every two years to scale the amount of transactions the network can handle well into the year 2035. Additonal work is underway to further increase transaction speed and network capacity.
- Year 2016: 280 Transactions Per Second
- Year 2017: 560 Transactions Per Second
- Year 2019: 1,120 Transactions Per Second
- Year 2021: 2,240 Transactions Per Second
- Year 2035: 280,000+ Transactions Per Second
DIGIBYTE MINING
You can mine DigiByte on one of five seperate mining algorithms. Each algo averages out to mine 20% of new blocks. This allows for much greater decentraliztion than other blockchains. In order for an attacker to hardfork DigiByte the attacker would need to control 93% of the hashrate on 1 algo, and 51% of the other 4 making DigiByte much more secure against PoW attacks than other blockchains.
- Sha256 (ASIC friendly)
- Scrypt (ASIC friendly)
- Groestl (GPU friendly)
- Skein (GPU friendly)
- Qubit (CPU friendly)
DigiByte vs Bitcoin
Security: 5 DigiByte mining algorithms vs. 1 Bitcoin algorithm. DigiByte mining is much more decentralized. DigiByte mining algorithms can be changed out in the future to prevent centralization.
Speed: DigiByte transactions occur much faster than Bitcoin transactions. 1-3 second transaction notifications. 15 second DigiByte blocks vs. 10 minute Bitcoin blocks. DigiBytes are confirmed after 1.5 minutes vs. 1 hour with Bitcoin.
Transaction Volume: DigiByte can handle many more transactions per second. Bitcoin can only handle 3-4 transactions per second. DigiByte currently can handle 280+ transactions per second. The 2015 DigiSpeed hardfork introduced changes that double the capacity of the network every two years.
Total Supply: More DigiBytes, lower price, more micro transactions, better price stability. 21 billion DigiBytes will be created over 21 years. Only 21 million Bitcoins will be created over 140 years. 1:1000 ratio. 1 Bitcoin for every 1000 DigiBytes.
Flexibility: Ability to quickly add new features. DigiByte can add new features & upgrades much quicker than Bitcoin. Future DigiByte upgrades will push transaction limit to several thousand per second.
Marketability & Usability: DigiByte is an easy brand to market to consumers. DigiBytes are much cheaper to acquire. $1 - $10 long-term price target per DigiByte. Send 5 DigiBytes instead of 0.005 Bitcoin.
Enjoy the crypto world!!!!