The Name "DigiByte" was originally chose as it signifies a "Digital Byte" of data. This is because blockchain technology such as DigiByte can be used for so much more than as a "coin" such as silver or gold. DigiByte is incredibly multi-purpose.
DigiByte's MultiAlgo means 5x algorithms all continuously compete for every single block. Others such as X16R are very different, instead rotating through each sub-algorithm with all miners swapping and using that same. As such, X16R is still a "single algorithm" compared with DigiByte's 5x MultiAlgo implementation.
Do you want to start a DigiByte podcast or meet-up? Go for it! There is nobody to ask for permission, part of DigiByte being a "permissionless" project. It is implied that you can, so go right ahead and do it.
Transactions on the DigiByte blockchain cannot be undone by anybody. Once a transaction has been made, it is permanent. Did you accidentally send 50 DigiByte instead of 5 DigiByte? You'll need to ask the recipient to return the surplus, as there is no "Undo" function and no central banking authority who can roll back transactions.
DigiByte cannot ever have a centralised "burning" of the maximum supply as other ICO's or centrally controlled tokens can. Because DigiByte is a fully decentralised project, it's impossible to issue a large scale "burning" of unused DigiByte. At most, you could only every destroy your own if you willingly transferred them in to the void.
You can use multiple wallets! DigiByte is not just limited to a single piece of software and the community is encouraged to find an app that works best for them. So try one, try a few and keep using the ones you like the most.
DigiByte can be used to verify and validate documents, music / media, identity and more! Although DigiByte excels as a means of exchanging value, it is not limited to just being a currency.
DigiByte is available on thousands of Crypto ATMs around the world! This is a great way for people new to cryptocurrency to get involved through a more "traditional" method of currency exchange.
There is a maximum of 21 billion DigiByte that will ever exist. This was intentionally chosen as a 1000:1 ratio compared to Bitcoins 21 million. No more can ever be created.
For a protocol upgrade to take place, over 70% of the network must agree and be in consensus that the upgrade will take place. This occurs by "signalling" support for it when blocks are mines, over the course of a 1-week period.
Below you can choose which kind of cookies you allow on this website. Click on the "Save cookie settings" button to apply your choice.
This content is blocked. Accept cookies within the '%CC%' category to view this content.