Skip to main content
x

DigiByte Blockchain (FAQ)

The DigiByte Blockchain

The blockchain is the most innovative part of the DigiByte Ecosystem providing the network infrastructure, security and communications to function with cutting edge high-speed.

The Three DigiByte Blockchain Layers

1. Applications Layer

This is the top layer of DGB that most people utilize in everyday applications.

2. Digital Asset / Public Ledger Layer (Think Security)

The digital asset layer is what incentivizes the security of the entire platform.

3. Core Communications Protocol / Global Network Layer

This is the bottom layer of the DigiByte that supports all infrastructure.

1. Applications Layer

The Top Layer is like an App Store with clear real-world uses.

DAPPS (Decentralized Apps)

Decentralized applications built on top of the DigiByte blockchain.

Digi-Apps

Centralized applications built on top of the DigiByte blockchain.

Smart Contracts

Smart contracts that leverage the rigidity and security of the DigiByte blockchain.

2. Digital Asset / Public Ledger Layer

The Middle Layer provides Security and Administration.

Digital Assets: DigiBytes

A digital byte of data, a representation of larger data or a unit that holds value, and cannot be counterfeited, duplicated or hacked. DigiBytes can be used to secure value for many things.

Immutable Public Ledger

An immutable public ledger where all transactions of DigiBytes are recorded.

Mining Security

DigiByte uses five separate mining algorithms for security. New DigiBytes come from mining.

3. Core Protocol / Global Network Layer

The Bottom Layer provides Communication and Operating Procedures.

Core Communications Protocol

A very low-level way nodes on the DigiByte global network communicate.

Global Network

Thousands of people running DigiByte software all across the planet.

Decentralized Nodes

Any server, computer or mobile phone connected to the DigiByte network becomes a node that helps relay transactions.

DigiByte Digital Asset

Each unit is a finite, secure, transferrable and adaptive 'digital byte' of data.

DigiByte Digital Asset Supply Curve

Supply will be limited to 21 Billion DigiBytes over 21 years (2014 - 2035).

Where does DigiByte fit into the blockchain industry?

DigiByte Mining Breakdown

DigiByte uses five individual mining algorithms that are equally weighted. Each algorithm has its own difficulty adjustment that is weighted against the other algorithms in a dynamic process known as MultiShield.

MultiShield is the advanced version of the original DigiShield (asymmetric difficulty adjustment now widely implemented in many other blockchains). DigiByte pioneered both MultiShield and DigiShield.

DigiByte Technical Specifications

Launch Date: January 10th, 2014
Blockchain Type: Public, Decentralized, UTXO based, Multi-Algorithm
Ticker Symbol: DGB
Genesis 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)
Block Reward Reduction: 1% Monthly
5x Mining Algorithims: 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 Separate Difficulties, 1 For Each Mining Algo
SegWit Support: Yes. First major altcoin to successfully activate Segwit. (April 2017)
4x Hardforks: DigiShield, MultiAlgo, MultiShield, DigiSpeed
3x Softforks: SegWit, CSV, NVersionBips
Current Supply: 8,107,031,908 DGB (2017)
Yearly Supply Inflation: 12% in 2017
Current Block Reward: 842 DGB