Fact #58 Transactions on the network

Transactions on the DigiByte network are public, but pseudo-anonymous. You can see them on a Blockchain explorer, however there is nothing inherently that can link a new transaction / address to an end-user. There are no usernames, email addresses etc required to use the DigiByte network.

October 13, 2021
Fact #74 The Name

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.

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October 13, 2021
Fact #73 Permissionless

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.

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October 13, 2021
Fact #72 Transactions

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.

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October 13, 2021
Fact #71 Burning

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.

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October 13, 2021
Fact #70 Multiple Wallets

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.

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October 13, 2021
Fact #69 Not just a currency

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.

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October 13, 2021
Fact #68 ATM

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.

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October 13, 2021
Fact #67 Maximum

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.

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October 13, 2021
Fact #66 Protocol Upgrade

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.

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October 13, 2021
Fact #65 Bech32

DigiByte addresses starting with "dgb1" (The "Bech32" format) have multiple advantages, such as error correction in the event they were incorrectly written-down, as well as knowing that they are DigiByte-specific addresses.

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ABOUT

DigiFacts.org is a collection of facts about the DigiByte Blockchain. This website is made voluntarily and free of charge by abteilung83 | starbase11 as a member of the global DigiByte Community. DigiFacts shall help newcomers with their research about blockchain technology and crypto-world, especially with the DigiByte Blockchain. 

See the DigiByte.io, the DigiByte Foundation and the Awareness Team for further information. 

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